Which statement is true? Both price floors and price ceilings result in a misallocation of resources. Both price floors and price ceilings create shortages. Both price floors and price ceilings create surpluses. Price ceilings are intended to help suppliers, whereas price floors are intended to help consumers.
| Which statement is true? | |||||||||
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Related questions
Who bears the primary costs of a rent control program?
| A. | landlords | |||||||||||||
| B. | renters that get rent-controlled apartments | |||||||||||||
| C. | taxpayers | |||||||||||||
| D. | the wealthy Assume the demand for sushi is Qd = 180 - 3P, where Qd is quantity demanded and P = price in dollars. The supply of sushi is Qs = 80 + 5P, where Qs is quantity supplied (and P is, again, price in dollars). A price of $20 would result in:
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US agricultural price supports are politically popular because
| A. | They have no adverse impacts | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| B. | The US would have food shortages without them | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| C. | The benefits accrue to a large number of voters and the costs are paid by a small number of voters | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| D. | The costs are spread out among millions of people Assume the demand for sushi is Qd = 180 - 3P, where Qd is quantity demanded and P = price in dollars. The supply of sushi is Qs = 80 + 5P, where Qs is quantity supplied (and P is, again, price in dollars). What would be the equilibrium price?
Price floors and ceiling prices:
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