midnite maniac
New member
I have been getting no where in looking these up...I would appreciate it if someone could kindly help me on these 2 problems....Thanks much 
1. The "quota rent" refers to __________.
a) the difference between the demand price and the supply price at the quota limit.
b) the rent received by landlords who own rent-controlled apartments.
c) the opportunity cost of using a quota-controlled service, or of buying a good that is subject to an import quota.
d) the minimum rent that the owner of a building must receive before he/she is willing to rent out the building.
2. If an excise tax is imposed on automobiles and collected from consumers _________.
a) the demand curve will shift downward by the amount of the tax.
b) the supply curve will shift upward by the amount of the tax.
c) the equilibrium quantity supplied will increase relative to the pre-tax level.
d) the equilibrium quantity demanded will increase relative to the pre-tax level.
I really appreciate the help everyone.....I will award 10 points to the one who answers Thanks much!
1. The "quota rent" refers to __________.
a) the difference between the demand price and the supply price at the quota limit.
b) the rent received by landlords who own rent-controlled apartments.
c) the opportunity cost of using a quota-controlled service, or of buying a good that is subject to an import quota.
d) the minimum rent that the owner of a building must receive before he/she is willing to rent out the building.
2. If an excise tax is imposed on automobiles and collected from consumers _________.
a) the demand curve will shift downward by the amount of the tax.
b) the supply curve will shift upward by the amount of the tax.
c) the equilibrium quantity supplied will increase relative to the pre-tax level.
d) the equilibrium quantity demanded will increase relative to the pre-tax level.
I really appreciate the help everyone.....I will award 10 points to the one who answers
Thanks much!