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Q1. The city council realizes that the telephone company could curtail pay phone service in response to the ceiling. To prevent this, the council plans to impose a requirement that the telephone company must maintain the current number of pay phones. In light of this additional restriction, what will be the likely impact of the price ceiling?
Q2. At the market-clearing price and quantity of $30 per hour and 4000 hours of gardening services, we can say that
a) Economic surplus could be increased at a higher price because firms would generate more revenue.b) The market is efficient because the government has imposed a market-clearing price and quantity.c) Economic surplus could be increased at a lower price because there would be more value to consumers.d) The market is inefficient because there are some consumers who are not purchasing at this price.e) Economic surplus is maximized and the market is efficient.
Suppose that these cost figures accurately refl ect the economic costs of providing inpatient services at these two hospitals and that the two hospitals face the same average total cost curve.
Under oligopoly if one firm in an industry significantly increases advertising expenditures in order to capture a greater market share, it is most likely that other firms in that industry.
If you are near graduation and plan to start your new job in 3 weeks, how does the Bureau of labor statistics classify you? Unemployed, employed or notin labor force.
The Coca-Cola Company has 40% of the cola market. Determine the probability that a sample proportion
Why do proponents of active policy recommend government intervention to close an expansionary gap. Some economists argue that only unanticipated increases in the money.
What are some methods for improving the financing of the U.S. health care system. Are these methods realistic and achievable? Justify your answer with solid reasoning and appropriate references.
Calculate whole expected convenience from each restaurant option and also compare?
What happens to the demand for Sara's sweatshirts in long run. In long run, what happens to Sara's economic profit.
What are the annual accounting costs for the firm described above? What are the annual explicit costs for the firm described above?
Discuss the policies that Keynes as well as Hayek supported regarding how federal government ought to manage economy. What are differences between each school of thought.
Excise tax is levied on the buyers of a good, then after the tax buyers will pay for each unit of the good.
Calculate gross national product and net national product
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