Suppose that the average cost of a doctor visit is $100. if the government imposes a price ceiling of $50 on the cost of a doctor visit, there will be:

there will be excess demand of doctor visits

Explanation:

Price ceiling is a regulation by the government to keep a good or service to be sold at or below a certain price limit. This means that the government is keeping the price from rising above a certain level. The main reason why a government would do that is to protect consumers from being exploited through being charged exorbitant prices. In this case, limiting the cost of doctors visit to $50 max from the average $100 will lead to excess demand  by customers.

hi,

henry is an economist and wants to understand the relationship between inflation and consumer spending habits. for his research, he needs the consumer price index for 2014 and the inflation rate. based on the prices of goods given, what will he find to be the cpi and inflation rate for 2014? assume that a consumer’s basket for three consecutive years consists of the following:

you dont privide answer choices.

answer - 15% of a inflatation rate is 15% less in cpi

answeri believe this is (true );