The services of real estate brokers are provided in a competitive market. If the state Board of Realtors enacts several requirements that limit the number of real estate brokers, then social welfare will most likely
A) not change but there will be a transfer from consumer to producer.
B) not change but there will be a transfer from producer to consumer.
C) decrease although producers are made better off.
D) decrease although consumers are made better off.
C
You might also like to view...
The price of a gallon of gasoline in Bonland is $3.20. However, just before the election, the government decides to fix the price of gasoline at $2.80 per gallon. This is an example of a ________
A) positive externality B) negative externality C) price floor D) price ceiling
A financial market panic that causes US depositors to withdraw their funds from Chinese banks, would cause a(n)________ in the demand of US dollars and a(n) _________in the demand of the Chinese Yuan
a. Increase; Increase b. Increase; Decrease c. Decrease; Increase d. Decrease; Decrease