Consider a perfectly competitive market described by the, Ask an Expert

Economics

Consider a perfectly competitive market described by the demand function P = 50 - 0.5Q and supply function P = 20 + 0.3Q. Suppose the market is initially in equilibrium. If the government intervenes in the market and imposes of a price restriction of P = $35 per unit, the result will be a:

surplus of 20 units

surplus of 30 units

surplus of 50 units

shortage of 20 units

shortage of 30 units

shortage of 50 units

View complete question

Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M91409831
Price:- $20

Guranteed 24 Hours Delivery, In Price:- $20

Have any Question?Write your Review or question?

Related Questions in Microeconomics

Question engineering economythe abc corporation has an

Question: Engineering Economy: The ABC Corporation has an investment opportunity that costs $125,000 and 7 years later pays a lump-sum amount of $215,000. What percent interest rate per year would be earned on this inves ...

Question below you find several incidents that are the

Question: Below you find several incidents that are the consequence of shifts in either Money Supply or Money Demand. First, tell me whether the instance is due to a Supply or Demand shift. Second, state which specific s ...

Question fiscal measures may help a recessionary condition

Question: Fiscal measures may help a recessionary condition in the economy. Do you think we are moving towards a recessionary lag under the new administration? If yes, suggest measures to rectify the situation. If not, j ...

Question what are the major arguments against globalization

Question: What are the major arguments against globalization? What are the major arguments in favor of globalization? The response must be typed, single spaced, must be in times new roman font (size 12) and must follow t ...

Question you could write on any one of the following topics

Question: You could write on any one of the following topics or more than one topics. Please be reminded that while research could help for this essay, however, the most important thing is original idea. 1. Money is said ...

Question what is the equivalent uniform annual amount at

Question: What is the equivalent uniform annual amount, at the end of years 3-7, of a uniform series of cash flows of 2,000 during years 2-9. the interest rate is 9% per year. The response must be typed, single spaced, m ...

Question in the tradeoff between economic output and

Question: In the tradeoff between economic output and environmental protection, what do the combinations on the protection possibility curve represent? The response must be typed, single spaced, must be in times new roma ...

Question electric utilities in california often make

Question: Electric utilities in California often make exchanges of power with utilities in the Pacific Northwest because their time patterns of consumption differ. California peaks in summer to meet air conditioning load ...

Question risk management covers many areas of an

Question: Risk management covers many areas of an organization's operations. Describe a minimum of two elements of risk management and (1) evaluate if those elements are present in your organization's risk management pro ...

Question a 5-year macrs class equipment that costs 50000

Question: A 5-year MACRS class equipment that costs $50,000 was sold for $15,000 after depreciating it for 3 years using MACRS. What is the amount of depreciation recapture? The response must be typed, single spaced, mus ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Microeconomics Expert