Answer to Question #73533 in Microeconomics for Jennifer

Question #73533

. If the government sets a price floor in the market what is the difference between the quantity demanded versus quantity supplied? What do we call this?

Expert's answer

If the government sets a price floor Qs> Qd
We call this surplus.

Learn more about our help with Assignments: Microeconomics

Comments

No comments. Be the first!

Leave a comment

Related Questions

1. Explain the concept of externalities and discuss one type of externality that may be encountered in
2. uppose the demand curve is: P = 200 – 2Qd and the supply curve is: P = 40 + 2Qs. If the government
3. suppose the demand for Frisbees is given by Q=100-2p and the supply by Q=20-6p a)what will be th
4. 4. The Regional Clear Air Incentives Market (RECLAIM) program is an emissions trading program for ni
5. QL=-L^3+8L^2+12 then find (a)optimal level of labour employment (b)optimal out put level(c) labour e
6. Find the equilibrium of L and K subject to a given output: minimize cost: C=40K+20L subject to Q=6
7. QL=L^3+8L^2+12 then find optimal level of labour employment,optimal out level,maximum out put level&