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Imagine that politicians have decided that fuel prices are excessive for U.S. drivers and have passed a law that grants the power to regulate retail fuel prices to the U.S. Department of Energy. • How might supply and demand for fuel be affected by fuel prices that are set by the Department of Energy instead of by a free market? • Will the amounts of fuel demanded by consumers be met by the quantities supplied by a regulated market? • Does a regulated market result in better economic efficiency in the production and consumption than a free market?
If average fixed cost equals 40 and average total cost equal 100 when output is 10 then total variable cost when output is 10 must be?
Three main facts indicate that Microsoft enjoys monopoly power. First, Microsoft's share of the market for Intel-compatible PC operating system is extremely large and stable. Second, Microsoft's dominant market share is protected by high barrier to e..
If the price in a market happens to be above equilibrium, there will be a ___ in the market, and the price will tend to ____
According to this Application, after the government deceased cigarette taxes in several Canadian provinces in 1994, the decrease in the price of cigarettes in these provinces A) more than doubled the smoking rate. B) created no noticeable change in t..
Suppose independent truckers operate in a perfectly competitive industry. If these firms are earning positive economic profits, what happens in the long run to the following: The price of trucking services, The industry quantity of output, and The pr..
question 1nbspa firm that emerges as the only seller in an industry with economies of scale is
Suppose you are the manager of a home-building company and the government is considering eliminating the deduct-ability of mortgage payments interest.
Which of these did the new Dodd-Frank act to do something to address:
q.macro-economics is perhaps most divisive area of economics when functionalized to political decision making also
q. the st. louis federal reserve bank provides data on both real gdp chained 1996 dollars and real gdp for the united
Comparing the situation of a nominal interest rate of 10 percent and an inflation rate of 9 percent with a nominal interest rate of 6 percent and inflation rate of 2 percent, consumers would borrow more in which situation?
A movement upward and to the left along a demand curve is called a(n)
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