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Has the time come for government to abolish rent controls and the minimum wage? What do you think? Do both rent controls and minimum wage laws achieve their intended purposes? Provide two examples. Are there any unintended consequences? Provide two examples.
Suppose following estimates from the 1990s of shares of income of each group. Draw a rough Lorenz curve for each country. Which has most nearly equal distribution,
Illustrate what is the relationship among the variable selected and the economy. What trends do you see in the data sets.
Discuss the upshot of this policy in terms of a new equilibrium. Is this policy likely to have a negative repercussion on the crime rate? Can you come up with an idea concerning a major drawback of this policy?
The US as well as Canada have intervened in the market and tried to internalize some of the costs of pollution by placing regulations on the amount of pollutants that industries can emit.
Bertand: If the firms compete on the basis of (continuous) price, what is the Nash equilibrium if the game is played once? A finite number of times? Explain clearly.
You're the manager of a paper mill and have been subpoenaed to appear before a joint session of the Senate Consumer Affairs and the Senate Environmental subcommittees.
Utilize a various example from homes and cars. Be creative. We make these kinds of choices everyday.
The following is a list of figures for a given year in billions of dollars. Calculate the GDP and NI.
Explain why is it wiser for the government to put a sales tax on a good that is demand inelastic than on one that is demand elastic.
What is the equilibrium price of a box. Is this the long-run equilibrium price. Expalin how many firms are in this industry when it is in long-run equilibrium.
Let the market demand for rye bread be given by Q = 500 + I - 250P rye + 400P wheat , where Q is monthly demand in number of loaves, I is average monthly income in dollars
What would happen to each firm's current profits if firm 1 reduced its price to $6 while firm 2 continued to charge $8?
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