posted by .

If the government imposes a price ceiling of $100 on a market, what would happen in the market as a result of protests of price gauging by the sellers? What would happen to the price and quantity in the market?

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. economic

    If the Government fixes the price of this product at $2 explain what would happen in the market. Draw a supply and demand curve for "this" product. Is the fixed price above or below the market equilibrium?
  2. Economics

    The market for fertilizer is perfectly competitive. Firms in the market are producing output, but they are currently making economic losses. a. How does the price of fertilizer compare to the average total cost, the average variable …
  3. Economics*Micro

    A market has the following demand and supply equations: Qd = -50P + 1000 Qs = 150P - 400 Which of the following statements is true?
  4. Economics

    It is assumed that the toothpaste market is perfectly competitive and the current price of a case of toothpaste is $42.00. CPI has estimated its marginal cost function to bas follows: MC=.006Q. The Board would like to know how many …
  5. business and tech

    lets say that price gauging didn't happen,and the merchants sell the goods at the market price but with laws of supply and demand how would that be a good thing, When disasters hit an area, the cost of everything seems to go up immediately?
  6. Microeconomics

    Answer the following questions based on the graph that represents J.R.'s demand for ribs per week of ribs at Judy's rib shack. a. At the equilibrium price, how many ribs would J.R. be willing to purchase?
  7. Economics

    The price received by sellers in a market will decrease if the government Answer A. imposes a binding price floor in that market. B. decreases a binding price ceiling in that market. C. decreases a tax on the good sold in that market. …
  8. Econ

    I have spent a few hours on this question. Can anyone help?
  9. economy

    consider a perfectly competitive market in which all firms have the same costs. choose the statement that is incorrect a)the market demand is elastic at the market price b)each firm takes the market price as given and produces its …
  10. Economics

    What would happen to the price of cheeseburgers if the price of cheese went up?

More Similar Questions