logo

Crowdly

Browser

Add to Chrome

ECC1000 - Principles of microeconomics - S2 2025

Looking for ECC1000 - Principles of microeconomics - S2 2025 test answers and solutions? Browse our comprehensive collection of verified answers for ECC1000 - Principles of microeconomics - S2 2025 at learning.monash.edu.

Get instant access to accurate answers and detailed explanations for your course questions. Our community-driven platform helps students succeed!

Suppose a tax of $9 is instead levied on sellers in this market. How does the deadweight loss now compare to when the tax was levied on the buyers?

100%
0%
0%
0%
View this question

Suppose a tax of $9 is levied on buyers in this market. What is the new producer surplus with this tax? Your answer should be a number - do not add any words or symbols.

View this question

What is the equilibrium price? Your answer should be a number - do not add any words or symbols.

View this question

The figure shows the demand and supply curves in the salt market. The government imposes an excise tax on the price of salt, to be paid by the suppliers. As a result, the equilibrium quantity falls from Q* to Q^T. Based on this information, read the following statements and select the correct option(s) that refer to after the tax has been implemented.

Image failed to load: The demand and supply curves in the salt market

0%
100%
0%
0%
View this question

The figure shows the market supply curve for second-hand textbooks, together with original and new demand curves, where the curve has shifted due to the arrival of new students. Based on this information, read the following statements and select the correct option(s).

Image failed to load: The market supply curve for second-hand textbooks, together with original and new demand curve

0%
100%
100%
0%
View this question

There are five students who are looking to buy one second-hand textbook each. Their willingness-to-pay are £5, £6, £8, £12, and £15, respectively. Based on this information, read the following statements and select the correct option(s).

0%
100%
0%
0%
View this question

A person is willing to pay $5 for a 1st bottle of water, $3 for a 2nd bottle of water, and $1 for a 3rd bottle of water. Suppose this person is the only consumer in this market and that the market price for water rises from $1 per bottle to $2 per bottle. Using this information, read the following statements and select the correct option(s).

100%
0%
0%
0%
View this question

The market for apples is in equilibrium at a price of $0.50 per pound. If the government imposes a price floor in the market at a price of $0.40 per pound:

0%
0%
0%
View this question

Image failed to load

A price floor has been set at point b. The area of deadweight loss that results from this price floor is:

100%
100%
100%
100%
View this question

Image failed to load

If

rent controls are set at

Rent_1:

0%
0%
0%
0%
View this question

Want instant access to all verified answers on learning.monash.edu?

Get Unlimited Answers To Exam Questions - Install Crowdly Extension Now!

Browser

Add to Chrome