Suppose the price charged by jeans producers for the latest designer jeans is $75. but the equilibrium price for the jeans is $125. in a market without price controls, the price of jeans will
increase to equal the equilibrium price
decrease to equal the equilibrium price
stay the same

Which of the following is an example of a production quota? a. the government sets an upper limit on the quantity that each dairy farmer can produce. b. the government sets a price floor in the market for dairy products. c. the government sets a lower limit on the quantity that each dairy farmer can produce. d. the government guarantees to buy a specified quantity of dairy products from farmers.

If the family’s net monthly income is 7,800 what percent of the income is spent on food clothing and housing?

What tax is paid by the most people in the united states