Excess of good in market problem

The excess of papayas would appear when: (1) seller’s supply prices increase to P1. (2) Govt. set a price ceiling of P1. (3) Growers predicted prices to soar. (4) Hurricane destroyed all Central American papaya plantations. (5) Government obliged a price floor of P2.

Please someone suggest me the right answer.

View Complete Question

Related Questions in Microeconomics

Q : Flatter demand curves for goods Demand

Demand curves tend to be flatter for goods such that: (w) are necessities than for luxury goods. (x) absorb smaller shares of family income. (y) have more close substitutes obtainable. (z) have more close complements within consumption.

Q : Profit-maximizing firms with monopsony

Unlike the competitive employers, profit-maximizing firms with the monopsony power will: (1) Set any salary they want and hire as lots of workers as they want. (2) Make any amount and charge any price they desire for output. (3) Be expected to try to make the most of

Q : Estimation of price elasticity of

You can calculate approximately a price elasticity of supply by data indicating that: (a) steel production rises 18 % while national income grows 13 %. (b) farmers increase soybean plantings 15 % while prices rise 5 %. (c) Ford raises production when

Q : Concentration ratio Explain the concept

Explain the concept of a concentration ratio. Is the concentration ratio in a monopolistically competitive industry likely to be higher than for a perfectly competitive industry

Q : Affects of costs and revenues in

When the relative positions of all affects on costs and revenues are the same for all the several firms in this industry, in that case this firm is most likely operating in a: (w) differentiated oligopoly market in the short run. (x) monopolistically

Q : Annual total revenue when profit

When Nostalgia Corporation maximizes profit in its production of Silver Screen DVDs, in that case its annual total revenue will be roughly: (i) $40 million. (ii) $60 million. (iii) $80 million. (iv) $100 million. (v) $120 million.

Q : Problem on Labor Union Goals Can

Can someone please help me in finding out the accurate answer from the following question. The higher union wages would be least likely to pursue: (1) Higher union initiation fees. (2) Mandatory retirement programs

Q : Legal constraints in Labor Markets The

The employer can legally pursue a policy of: (i) Wage discrimination which is based on the race or gender. (ii) Closed shop agreements with the unions. (iii) Firing the workers who join union. (iv) Wage discrimination mainly based on the employee’s seniority. (v

Q : Problem on falling income causes

I have a problem in economics on Problem on falling income causes increase in demand. Please help me in the following question. If falling income causes the demand for a good to rise, it is an: (1) Inferior good. (2) Costly biological necessity. (3) N

Q : Financial investments-traceable by most

Most of the U.S. capital investment is traceable to the financial investments by households, that is one way that private individuals: (i) Turn into capitalists. (ii) Save. (iii) Evade taxes. (iv) Avoid the circular flow of resources and income.

Discover Q & A

Leading Solution Library

Avail More Than 1429740 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1930236
Asked

3,689

Active Tutors

1429740

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment