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Suppose a town decides to give a $100 subsidy to each renter to help with rent payments. Thus if initially the rent had been $1,000, with the $100 subsidy the out-ofpocket cost to the renter of a one-bedroom apartment is only $900. Using the data from Problem 9, answer each of the following questions.
(a) Using the data from Problem 9, draw the demand curve before the subsidy. How does this subsidy affect the demand for one-bedroom apartments? Draw the new demand curve after the subsidy is introduced.
(b) If the supply of apartments is fixed at 1,200 units, what is the equilibrium price before the subsidy? What is the equilibrium price after the subsidy?
(c) At the new equilibrium price, what is the out-ofpocket cost to a renter for a one-bedroom apartment?
(d) Have renters benefited from the town's rent subsidy? Have apartment owners (suppliers)?
if a person borrows 12455.37 and agrees to pay it back in 60 monthly installments of 550.55 determinea effective
Year nominal gdp gdp deflator ( base year 1996) 2000 9873 118 1999 9269 113 a.what was the growth rate of nominal gdp between 1999 and 2000 b.what was the growth rate of the gdp deflator between 1999 and 2000
What is the single difference estimate of the effect of the curfew on the absenteeism rate? Write the complete regression equation for single differences using the table above
Use this modified diagram to examine the effects of temporary and permanent changes in monetary and fiscal policy.
A successful engineer wants to fund an endowment for a university which will pay $10,000, $15,000, $20,000, and $25,000 for the 1st, 2nd, 3rd, and 4th quarters respectively, each year, forever. For an interest rate of 8% compounded quarterly
What happens to the equilibrium real interest rate and the quantity of loanable funds? What will be the effect on the level of investment by firms and the economy's capital stock in the future?
Determine strategies that a company might use to develop product differentiation and market segmentation. What alternative non-pricing strategies are available? What alternative non-pricing strategies can be used to increase barriers to entry?
Market research at Apple Corporation has shown that the demand function for its new iPhone is as follows: QA = 3 - 0.02PA + 0.0002I + 0.01PS where QA is the quantity demanded (in thousands) of iPhones, PA is the price of an iPhone, I is consumer i..
Would you expect such information to increase productivity? Why or why not?
Use a computer regression package or Excel to work this computer exercise. Palm Products Company has collected data on its average variable costs of production for the past 12 months.
Digital, Inc., is a manufacturer and distributor of blank computer disks for residential use. Revenue and cost relations are: TR= $4,500Q - $0.1Q2 TC= $2,000,000 + $1,500Q + $0.5Q2 Where Q is the quantity produced and sold per week.
Assume the following values for Figures 5.4a and 5.4b. Q1=20 bags. Q2=15 bags. Q3=27 bags. The market equilibrium price is $45 per beg. The price at a is $85 per bag. The price at c is $5 a bag
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