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Which of the following is an effect of the government instituting a price ceiling of $2.00 a gallon on gasoline? a. quantity demanded will be more than the quantity supplied. c. quantity supplied
will be more than quantity demanded. b. quantity demanded will remain the same. d. quantity supplied will remain the same. Please select the best answer from the choices provided
a. quantity demanded will be more than the quantity supplied.
Expert answered|Fanboy|Points 2421|
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Asked 9/25/2012 10:18:11 AM
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Weegy: The answer to your question is C. If she could bake 10 cakes for $16 you would expect her to bake double the amount for double the price. However, she can only bake 14 cakes for 4 extra dollars. [ You can see the definition of decreasing marginal returns (also known as diminishing returns) here: ] User: An entrepreneur knits sweaters for sale. The entrepreneur has fixed costs of $100. When he makes 10 sweaters in one month, he must ... (More)
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Weegy: Could you please provide a question in order to better assist you? Thank you. User: Which example best demonstrates the practice of the U.S. government providing subsidies to American industry? a. Offering a decrease in the excise tax for automakers who produce environmentally friendly cars. b. Deregulating the utilities and power companies. c. Encouraging farmers to switch to organic methods by supplying financial support. d. ... (More)
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