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Question 7 {1 point) Which of the following is the best example of a public good? 0 educatien 0 cars 0 national defense 0 medicine Question 8 (1 point) () Listen In a competitive market, the effect of a binding price ceiling on the market outcome is: O decrease price, increase quantity O increase price, decrease quantity O decrease price, decrease quantity increase price, increase quantityQuestion 9 {1 point) 5-H In the market for rental apartments, the following table shows a schedule of demand and supply: quantity quantity price demanded supplied 500 200 0 600 100 25 700 50 50 If the government implements rent control by setting a maximum rental price of $600, what is the quantity traded and the extent of market shortage? \fQuestion 10 (1 point) () Listen Which of the following government policy has the effect of lowering the price in the marketplace? Oquota, limiting quantity traded O sales tax Obinding price ceiling binding price floor