Solutions? 1. Which of the following is not a reusonnble way for a goverament to

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Solutions? 1. Which of the following is not a reusonnble way for a goverament to regulate a n (a) Impose price ccilings (b) Encourage firns to merge into larger fim. (c) Break up large firms into small firms (d) Require firms to produce more than they would if they were unregulated. h of the following cases will a producer in a competitive market decide to stop producing in the short rm? (a) The market price is below the producer's minimum average variable cost. (b) The market price is below the producer's minimum average total cost. (c) The market price is above the producer's minimum average variable cost (d) The market price is above the producer's minimum average total cost. 8. (Use this information for Questions 3-5. It will help to draw graphs.) Consider a competitive market with the following supply and demand curves:Q20-2P and QS 10. The equilibrium price is (a) $5; 10 (b) $10; 20 (c) $10; 5 (d) $5; 20 and equilibrium quantity is . If the government taxs procducens $2 per uni, hem (a) the equilibrium price will stay the same but there will be a shortage. (b) the equilibrium price will rise and quantity will stay the same as before. (o) the equilibrium price and quantity will tauy the saumc as before (d) the equilibrium price and quantity will both drop.

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