Excess supply at the minimum price

Programs which guarantee farmers minimum prices which exceed equilibrium prices will yield: (w) cheaper food for consumers. (x) excess demand in food markets. (y) excess supply at the minimum price. (z) higher equilibrium prices.

Can someone explain/help me with best solution about problem of economic...

View Complete Question

Related Questions in Microeconomics

Q : Increasing cost industry in long run

When curve C reflects the long run supply curve as in demonstrated figure for this industry, in that case this is a/an: (w) decreasing cost industry. (x) increasing cost industry. (y) constant cost industry. (z) diseconomies of scale industry.

Q : International demand or supply affected

Sixty Chinese manufacturers have started producing generic staplers. Since each factory is very small to noticeably influence the international demand or supply for staplers, every firm is: (1) a cartelized seller. (2) a price taker. (3) a primary goo

Q : Illustrations of monopoly power The

The best illustrations of monopoly power in the United States are possibly: (w) local public utility companies. (x) state university systems. (y) the national TV networks. (z) national defense firms. Hey friends pl

Q : Reliablity with standard economic

Which of the given behaviors is least reliable with standard economic suppositions regarding consumer behavior? (i) Gustav cannot decide which of three distinct combinations of goods he favors. (ii) Lynn hates pickled herring; however Chris is willing

Q : Increased value of product due to time

The farmer stores corn after its harvest in the fall and then vends it in the spring as a hog food at very higher price. The raised value of the corn is due to its modifying: (i) Place. (ii) Form. (iii) Possession. (iv) Time. Can s

Q : Effects when rental price and quantity

When the rental price of DVDs start from $2.50 to $.99 and the quantity demanded raises from 510 to 820 in that case the price elasticity of demand to rent DVDs is: (w) perfectly elastic. (x) perfectly inelastic. (y) relatively elasti

Q : Meaning of tax Meaning of tax : Tax is

Meaning of tax: Tax is a legally compulsory payment imposed on the people by the government. There are two kinds of taxes: Direct taxes and Indirect taxes.

Q : Monopolists maximize profits Maximizing

Maximizing the net social benefits from a specified stock of resources does NOT need that: (i) price equals marginal cost for all goods. (ii) marginal social benefit equals marginal social cost [MSB = MSC]. (iii) no one can be made better off unless s

Q : Emerging natural monopoly A monopoly

A monopoly will come out naturally when: (w) the government relaxes antitrust laws. (x) economies of scale are large relative to market demand. (y) variable costs are huge relative to fixed costs. (z) variable costs rise as output expands.

Q : Incurs total costs by profit

This profit-maximizing brickyard as in illustrated figure incurs total costs of approximately: (i) $1200 daily. (ii) $1300 daily. (iii) $1400 daily. (iv) $1530 daily (v) $1600 daily.

Discover Q & A

Leading Solution Library

Avail More Than 1461204 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1949355
Asked

3,689

Active Tutors

1461204

Questions
Answered

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

Submit Assignment