125) choose the correct option:1.A tax collected from buyers has an equivalent impact to a same size tax collected from sellers. 2.A tax creates a tax wedge between a buyer and a seller. This causes the price paid by the buyer to rise, the price recei

1-T,2-T,3-F

1-T,2-F,3-T

1-T,2-F,3-F

1-F,2-F,3-T

Answer is:

1-T,2-T,3-F

above the equilibrium price

below the equilibrium price

precisely at the equilibrium price

at any price because all price ceilings are binding constraints

Answer is:

a shortage or a surplus depending on whether the price ceiling is set above or below the equilibrium price.

a surplus

a shortage

an equilibrium

Answer is:

There may be long lines of buyers waiting for apartments

Landlords may discriminate among apartment renters

There will be a shortage of housing

The quality of apartments will improve

Answer is:

always determines the price at which a good must be sold.

sets a legal maximum on the price at which a good can be sold

is not a binding constraint if it is set above the equilibrium price

sets a legal minimum on the price at which a good can be sold

Answer is: