This year, Company LI built a light industrial facility in County G. The assessed property tax value of the facility is $25.0 million. To convince Company LI to locate within its jurisdiction, the county abated its 4 percent property tax for the year. Because of the local economic boom created by the new facility, the aggregate assessed value of County G’s property tax base (including the LI facility) increased to $29.0 million. Compute the net effect on County G’s current year tax revenue from the abatement. (Enter your answer in dollars not in millions of dollars.)

answer; /// i believe the correct answer is ( column break);

answer; how many employees will be needed for jobs in the coming period;

the answer is "b.the increased supply will create a surplus. "

the essential thought behind price controls is straightforward - utilize the power of law to modify the equilibrium of a market. for instance, the legislature may choose that the steel business needs to survive, and in this way pass a law to set a value floor on steel. this implies all steel sold must offer at or over the floor value, which must be set over the equilibrium cost for it to have any impact. the switch could likewise happen - the administration can choose that steel is excessively costly and set a value roof underneath its equilibrium value, with the goal that all steel must be sold at or beneath that ceiling.