Chapter 6 v D bbhostedcunyedu C pr Assessment Player Ul Application Take Test: test 1 - 2023 Spring Term (1) l... G Chegg Search Remaining Time: 1 hour, 03 minutes. 52 seconds. Question Completion Status: 1525 3|: 4 sls 7 a 9 1o1112l1314151s171s19 20 21 22l 23 24 25 26 rlgure 4.: Refer to Figure 4.3. In the market for pencils, the quantity demanded will be greater than the quantity supplied ifthe government imposes an effective price oor. price ceiling. price surplus. market equilibrium price. QUESTION 5 The government imposes a price floor on wheat that is below the market price, You are asked to suggest a rationing scheme that will minimize the misallocation of resources. You suggest that no rationing system will be necessary. using a queuing system to compensate for the excess demand. using rationing coupons that can be resold. using rationing coupons that cannot be resold. QUESTION 6 The harmful effect of a price ceiling to is , consumers: the selling price of the product is above the equilibrium price producers: the ceiling creates a surplus of the product producers; the selling price of the product is above the equilibrium price consumers; the ceiling creates a shortage of the product Click Save and Submit to save and submit. Click Save AllAnswers to save all answers. 1 points Save Answer 1 points Save Answer Save All Answers Save and Submit EC V U bbhostedcunyedu CL @ a] Take Test: test 1 2023 Spring Term (1) Introduction to... Q Chegg Search u UntitledA v Remaining Time: 1 hour, 03 minutes. 31 seconds. Question Completion Status: 1b 2b 3|} 4 5l 6 7 8 9 10 11 12l 13 14 15 16 17 18 19 20 21 22l 23 24 25 26 QUESTION 7 1 points Save Answer Refer to the information provided in Figure 3.18 below to answer the question(s) that follow. 100 150 250 350 400 Q Miimuofpoundsofbunitos Figure 3.18 Refer to Figure 3.18. The market is initially in equilibrium at Point B. If demand shifts from Dz to D1 and there is an excess supply of 200 million pounds of burritos, the price of burritos would be $1.50. $3.00. $4.00. $6.00. QUESTION 8 1 points Save Answer When quantity demanded equals quantity supplied, there must be no government intervention in the market. the demand curve must be the same as the supply curve Click Save and Submit to save and submit. Click Save AllAnswers to save all answers. Save All Answers Save and Submit