# Q4 suppose that the randwick council decides to

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Q4. Suppose that the Randwick council decides to introduce rent control to lower cost of living ofUNSW students. It imposes a binding price ceiling in the rental apartment market. Which of thefollowing are true?
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Q5. If the demand curve is perfectly inelastic (a vertical line) or the supply curve is perfectly elastic (ahorizontal line), then the burden of a per unit tax imposed on sellers falls
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Q6. In the market for onions, quantity demanded is given by Q = 40 – 2P, and quantity supplied isgiven by Q = 2P, where Q represents kg of onions.Suppose that the government imposes a price floor equal to \$12. This will cause producer surplus to
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Q7. Consider a market where demand is given by P = 16 – Q, and quantity supplied is given by P =Q/3.If the government imposes a \$4 per-unit tax on producers, the final prices paid by consumers andreceived by producers (after paying the tax) are
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Q8. In the market for pencils, demand is given by P = 16 – 2Q, and quantity supplied is given by P = 4+ Q.If the government provides a \$3-per-unit subsidy to pencil producers, the cost of the subsidy to thegovernment will be
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Q9. In the market for pencils, demand is given by P = 16 – 2Q, and quantity supplied is given by P = 4+ Q.If the government provides a \$3-per-unit subsidy to pencil producers, this will result in
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Q10. The Deadweight Loss is the loss in economic surplus due to a perfectly competitive marketbeing prevented from ___
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