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Which of these products or services is likely to have an inelastic supply in the short run? A. cargo ships B. haircuts C. newspapers D. staples
Weegy: A product with elastic supply is one where the price you offer will have a strong impact on whether the seller will sell. A. cargo ships User: How does an increase in an excise tax on cars affect the supply of cars? A. More cars will be made. B. Fewer cars will be made. C. Supply will stay the same. D. Supply will increase. Weegy: B. Fewer cars will be made is how an excise tax will affect supply of cars (More)
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Asked 12/26/2012 3:00:18 PM
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A large increase in gas prices creates a demand for cars with good gas mileage. It takes months for car companies to make these cars. How do you describe this market for cars? A. inelastic B. elastic C. static D. inferior
Weegy: A. inelastic User: What is the effect of import restrictions on supply? A. They cause the available supply of goods to drop. B. They cause the available supply of goods to rise. C. They often cause supply to rise steeply and then drop. D. They usually do not have any lasting effect on supply. Weegy: B- they cause the availability of the goods to drop, as the import restriction, such as a quota, restricts the amount of supply at "x" quantity. [ If the supply prior to the import restriction is at a greater amount then "x" then supply falls to meet the boundary. ] User: Which of the following is an example of government influence on supply? A. law of supply B. subsidies C. marginal costs D. market supply curve Weegy: Subsidies. The government basically funds,in all or in part, an industry's production. User: If a seller expects the price of a good to rise in the future, the seller will A. place these goods on the market immediately. B. increase production of the good. C. store these goods until the price goes up. D. increase the price of the good now. Weegy: The seller expects rise in price of a good he will increase production of the good. User: Due to an increase in her rent, Isa needs to cut back her spending on other items. Which of the following types of goods will Isa consume less of? A. substitutes B. normal goods C. inferior goods D. complements Weegy: Isa will need to spend less on complements User: Which of the following actions by the government constitutes a subsidy? A. a price floor on wages B. a payment to farmers for not cultivating land C. an excise tax on cigarettes D. a requirement to use lead-free fuel (More)
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Asked 12/26/2012 3:10:49 PM
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A minimum price, set by the government, that must be paid for a good or service is called a _____. A. price wall B. price floor C. price field D. price ceiling
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Updated 10/25/2015 10:30:56 AM
1 Answer/Comment
A minimum price, set by the government, that must be paid for a good or service is called a price floor.
Added 10/25/2015 10:30:56 AM
This answer has been confirmed as correct, not copied, and helpful.
Confirmed by yumdrea [10/25/2015 10:38:14 AM]
Free market economy?
Weegy: hi.welcome to weegy?what is your questions about economy?thanks for using weegy User: what is a free market economy? Weegy: hi.welcome to weegy?what is your questions about economy?thanks for using weegy (More)
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Updated 6/11/2014 12:35:35 PM
1 Answer/Comment

A free market economy is an economy in which the allocation for resources is determined only by their supply and the demand for them.

Added 6/11/2014 12:35:35 PM
This answer has been confirmed as correct, not copied, and helpful.
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