Refer to Exhibit 4-11. Suppose that the government imposes a price ceiling in the market for good ABC at a price of $4. The number of units that would be exchanged in the market for good ABC at the price ceiling would be _________ units.

Answers

Answer 1

Question Completion:

Exhibit 4-11  

Price of Good ABC     Quantity Demanded    Quantity Supplied

      $4                                          100                             40

        5                                           80                              80

       6                                            60                             110

       7                                            50                            160

Options:

a. 20

b. 40

c. 100

d. 60

Answer:

The number of units that would be exchanged in the market for good ABC at the price ceiling would be _________ units.

b. 40

Explanation:

The suppliers of good ABC cannot sell above $4 since it is the price ceiling.  A price ceiling is the opposite of a price floor.  A price ceiling usually prevents the market of good ABC from reaching equilibrium as suppliers will be unwilling to supply more units of ABC.


Related Questions

Other Questions
Hello guys i am in secondary school y8 and need help on my school work due tomorrow please could you help me out. what is the slope of the line in the graph? How many days are in 5 years? Correct answer gets brainliest. 2 possible answers Find the value of x.Please help!! This quote shows all of the following.Check all that apply.how Jim Crow laws were enforced throughscare tactics and bullying.how white supremacist groups such as theKu Klux Klan used intimidation.how African Americans were at risk if theyopposed Jim Crow laws.how African Americans were protected by thepolice and their communities.DONE What were the weaknesses of the Articles of Confederation? Check all that apply. Kepler Company Comparative Income Statements This Year Last Year Sales $ 950,000 $ 900,000 Less: Cost of goods sold 500,000 490,000 Gross margin $ 450,000 $ 410,000 Less: Selling and administrative expenses 275,000 260,000 Operating income $ 175,000 $ 150,000 Less: Interest expense 12,000 18,000 Income before taxes $ 163,000 $ 132,000 Less: Income taxes 65,200 52,800 Net income $ 97,800 $ 79,200 Less: Dividends (common) 27,800 19,200 Net income, retained $ 70,000 $ 60,000 Also, assume that for last year and for the current year, the market price per share of common stock is $2.98. In addition, for last year, assets and equity were the same at the beginning and end of the year. Required: Note: Round all answers to two decimal places. 1. Compute the following for each year: This Year Last Year a. Return on assets % % b. Return on stockholders' equity % % c. Earnings per share $ $ d. Price-earnings ratio e. Dividend yield % % f. Dividend payout ratio Reread lines 9-19.In what ways does the author compare Dr. Frankenstein to Prometheus? Which early civilization consisted of different city states each with its own god/kinga)mayab)hebrewsc)inca d)aztec If you bought a stock last year for a price of $63, and it has risen 17% since then, how much is the stock worth now, to the nearest cent? Ted I just have one question for you, what color is an orange? PLEASE HELP! HURRY. ALMOST OUT OF TIME So I was doing a hooda math escape game, and forgot how to do these. Can you help me? Who is the most beautiful woman in this world? Which option best describes the relationship between the two ideas below?Maggie Simpson made Oreo-flavored ice cubes. She putthree of the ice cubes in her milkshake is it Cause and Effect, example or Sequence what is the lenght of the diagonal of the rectangle will give brainlest The electrode is being __________ as you weld with it? Why is Justice Taney's argument ineffective?O He uses the freedom of African Americans asevidence.He uses a previous status of African Americans asevidence.O He uses the dissenting argument of the court asevidence.O He uses the ruling of the previous court as evidence. What physical property of the metal rods was being tested during step 4 of the procudure?4. Measure and record how long it takes heat from the hot plate set on "high" to melt the wax ball. A. magnetism B. thermal conductivity C. electrical conductivity D. density Please help me.This is an excerpt from the website the Americas by high school student AllieDubecky:European colonization was the worst thing to ever happento indigenous populations in the Americas. But indigenouspeople should have known better than to trust Europeanexplorers. If they had put up more of a fight, perhaps theEuropean explorers would have decided not to createcolonies in the Americas.Which statement about the credibility of this source is most accurate?O A. The source is credible because it contains more facts thanopinions.O B. The source is not credible because it does not contain the dates ofthe events.O C. The source is credible because the author is an expert onindigenous people.O D. The source is not credible because it contains more opinions thanfacts.