Question: *** FIGURE 1 HAS 3 QUESTIONS I KEEP GETTING THEM WRONG. ***I NEED HELP IN THIS PLEASE BECAUSE I DO NOT KNOW WHY I KEEP

***FIGURE 1 HAS 3 QUESTIONS I KEEP GETTING THEM WRONG. ***I NEEDHELP IN THIS PLEASE BECAUSE I DO NOT KNOW WHY I KEEPGETTING THIS WRONG. PLEASE ANSWER ALL QUESTIONS THESE ARE GIVING ME PROBLEMSIVE TRIED SO MANY TIMES NOW If the price is $7, then

***FIGURE 1 HAS 3 QUESTIONS I KEEP GETTING THEM WRONG. ***I NEED HELP IN THIS PLEASE BECAUSE I DO NOT KNOW WHY I KEEP GETTING THIS WRONG.

PLEASE ANSWER ALL QUESTIONS THESE ARE GIVING ME PROBLEMS IVE TRIED SO MANY TIMES NOW

If the price is $7, then we conclude equilibrium in the rental market for DVDs has been reached. a decrease in demand will occur. an excess supply of 40 DVD rentals. an excess demand of 80 DVD rentals. Any price above P2 results in a(n) Fig. shortage. surplus. equilibrium. increase in demand. Using Figure 1, which is a binding price ceiling for this market? Any price above P1 or below P2. Only price P2 Any price below P2 Any price above P2 Using Figure 1, suppose this is the labor market and the price is the wage rate. The government sets the wage rate at P1. What is one result of this policy? There will be excess supply equal to (q4 - q2) There will be excess demand equal to (q4 -q2) There will be excess supply equal to (q4 - q1) There will be excess demand equal to (q4 - q1)

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