when the government imposes a limit on sales of a good or service by a quota, it usually issues a license that gives the owner the right to sell a given quantity of the good. the market price of the license is equal to: a the wedge that represents the difference between the demand price and the supply price. b the demand price of the good. c the per-unit quota rent multiplied by the quota limit. d the market equilibrium price. e the per-unit quota rent.

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08-09-2022
Business

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when the government imposes a limit on sales of a good or service by a quota, it usually issues a license that gives the owner the right to sell a given quantity of the good. the market price of the license is equal to: a the wedge that represents the difference between the demand price and the supply price. b the demand price of the good. c the per-unit quota rent multiplied by the quota limit. d the market equilibrium price. e the per-unit quota rent.

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tutorconsortium345 tutorconsortium345 · Answer 1 · 2022-09-12T19:06:21+02:00

When the government places a quota on the amount of an item or service that may be sold, it typically offers a license to the business owner allowing them to sell a certain amount of the good. The license's market price is equal to the good's demand price.

What do you understand by market equilibrium?

Market equilibrium is a condition in which a good's supply and demand are both equal. In other words, there is no surplus supply or demand in a market equilibrium condition.

A market is considered to have attained equilibrium when there is an equal balance between supply and demand for a good or service. Consistent agent conduct, the lack of incentives for agents to change their behavior, and the dynamic nature of equilibrium outcomes are three features of an equilibrium market.

To learn more about market equilibrium, visit: https://brainly.com/question/20718190

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