What is the effect of a price ceiling implemented above equilibrium price? no effect shortage surplus none of these answers

Please label which one goes in each box. Everything is in the image below

Question 21 The graph below represents the market for lightbulbs. Calculate the surplus caused by the price floor. Pr = $7 Price (5) PE=$4.50 Market for Lightbulbs QD=2080 QE=6700 as 9080 Price Floor D Quantity

Could you explain the difference between a suprlus and shortage in terms of supply and demand?

The imosition of a price celing on market will resut in

Price A B P C EQ Market for Product X What would happen to the equilibrium price of Product X if demand for Product X decreased? It would rise. It would fall. Quantity It would fluctuate. S It would stay the same. D

Question 9   Setting a price ceiling below the equilibrium price can result in   a surplus, where the quantity demanded exceeds the quantity supplied.   a shortage, where the quantity demanded exceeds the quantity supplied.   a surplus, where the quantity supplied exceeds the quantity demanded.   a shortage, where the quantity supplied exceeds the quantity demanded.   no impact on the quantity demanded or the quantity supplied.     Question 10   US minimum wage law is an example of a   price floor.   price ceiling.   law that requires quantity demanded to be equal to quantity supplied.   law that allows individual employers and employees to make free decisions.   law that sets the minimum number of hours that an employee must work for wages during the week.     Question 11 Gross domestic product (GDP) is best defined as the total market…

California LifeLine provides discounted home phone and cell phone service to qualified households. The service discount cannot exceed $39 per household. What would happen if the state of California were to increase the subsidy to $59 per household? Group of answer choices Supply would shift to the left Government payments to households would decrease The price consumers pay increases and the quantity consumed increases The price consumers pay falls and the quantity consumed increases

The figure below represents the market for Gasoline, where initially the equilibrium price was $5.60. The picture shows the effect of a $1.50 tax on gasoline. Using the information from the figure, what is the price elasticity of supply(Using the Midpoint method) when moving from equilibrium to the new supply after the tax?(round your answer to 2 decimal places)

Discuss the market equilibrium price and quantity (give examples on surplus and shortage)