Questions
QAMO 2010-004 Fall 2025 Unit 9: Welfare Economics -- Application Problem
Multiple dropdown selections
In this market, there will be [ Select ] excess demand excess supply of [ Select ] 41 0 39 80 121 . Ironically, the amount of natural gas used with the price ceiling will be [ Select ] less than more than the natural gas used if the price was allowed to rise to the market level.
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Step-by-Step Analysis
The question presents a market situation described with dropdowns and asks us to select the correct phrases and numbers to complete the statements.
First dropdown options to choose from are: excess demand or excess supply.
Second dropdown options for the quantity are: 41, 0, 39, 80, 121.
Third dropdown options regarding the comparison are: less than or more than.
Step-by-step reasoning for each part:
- First part (type of imbalance): In a market with a price ceiling that is bindin......Login to view full explanationLog in for full answers
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