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Topic: Price Controls and Consumer Surplus
consider the following questions related to the articles from The Economist:
1.) Are price controls good or bad? (See Venezuela's experience with food and China's taxi problem.)
2.) What do price controls have to do with basketball? (Hint: Lebron can't be stopped by a mere price ceiling!)
3.) What is the consumer surplus of the internet?
consider further questions such as:-
• what the heck is consumer surplus? • Can consumer surplus ever be negative? • Is consumer surplus cooler, less cool, or just as cool as producer surplus?• What about Lebron's producer surplus? • Is it being unfairly limited?
explain whether the following scenarios shift the aggregate supply or aggregate demand curves. illustrate what happens
The fixed cost is zero for both firms. The two firms want to merge. They argue for the merger on the grounds that marginal production costs would fall to 10 for all units of output after the merger since all production woul be at the low marginal ..
Illustrtae what is the current cost of a share of stock for a firm with $5 million in balance-sheet equity.
Why is it that firms can earn profits in the long run in monopoly and oligopoly but not in monopolistic competition and perfect competition?
Make a monthly sales forecast for the firm for 2001. Why would the managers of the Chemical Company want monthly sales forecasts of this kind.
How does this proposed tax hike affect the social cost of gasoline consumption in the short-run In the long-run d. Do you support this proposed tax hike If yes defend your position If not provide an alternative policy (Answer as an economists, n..
Failure of component 1 occurs as follows: n Monday = No failure n Tuesday = 5 a.m. to 7 a.m. n Wednesday = No failure n Thursday = 4 p.m. to 8 p.m. n Friday = 8 a.m. to 11 a.m. Calculate the MTBF and MTTR of component.
Government initally increased spending from 50 million to 100million . Household responded by increasing spending from 20 million to60 millio
The American Nursing Association (ANA) reports that there is a nursing shortage. Develop initiatives to move nurses through graduate studies more rapidly.
1.If total costs are given by TC(Q) =17.Q+0.004Q2 then what is the total fixed cost?
Carson Company is considering a private placement of equity with Secura Insurance Company. a) Explain the interaction between Carson Company and Secura. How will Secura serve Carson's needs, and how will Carson serve Secura's needs
When does a recession begin and when does it end and the dating of a business cycle is done by the Business Cycle Dating Committee of the National Bureau of Economic Research
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