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The Municipal Corporation of a small college town decides to regulate rents in order to reduce student living expenses. Suppose the average annual market-clearing rent for a two bedroom apartment had been Rs.10000 per month, and rents were expected to increase to Rs.15000 within a year. The Municipal Corporation limits rents to their current Rs.10000-per-month level. Draw a supply and demand graph to illustrate what will happen to the rental price of an apartment after the imposition of rent controls. Do you think this policy will benefit students? Why or why not?
The U.S. market for hand sanitizer is controlled by a monopoly (firm I, for incumbent) that has a total cost given by TC(qi) = 0.025qi^2. The market demand for hand sanitizer is given by P = 50 – 0.1Q. What are the incumbent’s profits if it commits t..
q1. for each of the determinants of demand in equation identify an example illustrating the effect on the demand for
1. draw a real expenditures curve on a graph showing a recessionary gap. explain what happens to real gdp when it is
xplain at least one possible economical detriment of (problem with) the current law. You may add any other detriments, but you must provide at least an economic one). Note: Retailers being able to pass on wholesale price increases is not considered d..
q1. an average department store sells 350 mens suits every year. the mens suit departments at a particular national
Suppose that Grinch and Grubb go into the wine business in a small country where wine is difficult to grow. The demand for wine is given by P=$360-0.2Q , where P is the price and Q is the total quantity sold. The industry consists of just the two Cou..
A firm that has the long-run cost curves shown in the graph above would be able to do or have the following, except:
What do you need to do to handle crisis. SLook at mistaken assumptions described. Why do such assumptions arise, and what can be done to overcome se biases.
Compute the firm's profit from part d. Solve algebraically for the profit maximizing quantity (QM) and price (P M). You should get the same answer as in d.
Evaluate how sale of novels would change during a period of rising incomes. Assess probable impact if competing publishers raise their costs.
What is likely to happen to the supply of any good when a price ceiling is imposed?
discuss the one presented in the Bruntland Commission Report
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