QuestionDetails: will rate Lifesaver!!! pleasehelp!! Goods X and Y are normal go

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QuestionDetails: will rate Lifesaver!!! pleasehelp!!
Goods X and Y are normal goods and substituted goods. Theequilibrium price of good X is $4. The equilibrim price of good Yis $3. Which of the following govt. actions will lower the price ofgood X? choose 3: a $1 subsidy of good x a $1 subsidy of good y a $4 price floor on good Y a $5 price ceiling on good X a $2 price ceiling on good Y a $2 price floor on good Y a $5 price ceiling on good Y plz help. I will rate lifesaver!!!! QuestionDetails: will rate Lifesaver!!! pleasehelp!!
Goods X and Y are normal goods and substituted goods. Theequilibrium price of good X is $4. The equilibrim price of good Yis $3. Which of the following govt. actions will lower the price ofgood X? choose 3: a $1 subsidy of good x a $1 subsidy of good y a $4 price floor on good Y a $5 price ceiling on good X a $2 price ceiling on good Y a $2 price floor on good Y a $5 price ceiling on good Y QuestionDetails: will rate Lifesaver!!! pleasehelp!!
Goods X and Y are normal goods and substituted goods. Theequilibrium price of good X is $4. The equilibrim price of good Yis $3. Which of the following govt. actions will lower the price ofgood X? choose 3: a $1 subsidy of good x a $1 subsidy of good y a $4 price floor on good Y a $5 price ceiling on good X a $2 price ceiling on good Y a $2 price floor on good Y a $5 price ceiling on good Y

Explanation / Answer

A subsidy of good X A subsidy of good Y (this will shift consumer preferences over togood Y, good X will attempt to attract customers back by loweringits price) A $2 price ceiling on good Y (this will shift the consumers over togood Y again)

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