Determine that the laws of economics still work today, Managerial Economics

(i) Do the laws of economics still work today? (use the case discussed in class to answer this question or any other examples)

(ii) Provide examples of three factors that can shift the demand curve to the right.

(iii) Should governments be involved in price controls, such as setting the price floors or price ceilings? (explain main economic costs and benefits of such policies)

Posted Date: 3/28/2013 1:42:43 AM | Location : United States







Related Discussions:- Determine that the laws of economics still work today, Assignment Help, Ask Question on Determine that the laws of economics still work today, Get Answer, Expert's Help, Determine that the laws of economics still work today Discussions

Write discussion on Determine that the laws of economics still work today
Your posts are moderated
Related Questions
(Kinky Demand Curve) Short Period Kinked demand curve was first used by Prof. Paul M. Sweezy to elucidate price rigidity under oligopoly. In an oligopoly market, firm knows that


The city of Cabernet is very popular for its production of wine. The inhabitants of the city have an aggregate demand for wine that can be described as follows: where Q d

The demand curve Suppose that starting from a condition of equilibrium, the price of X falls relative to Y.  We now have a condition where the utility from the last shilling s


Q. Product of marginal revenue? MRPL is the product of marginal revenue and marginal product of labour or MRPL = MR x MPL. • Derivation: MR = ?TR/?Q MPL = ?Q/?L

a.  A major freeze destroys a large number of orange trees in Florida Ans- Since the freeze destroyed a large number of orange trees in Florida the number of oranges the selle

Prices of the factors of production As the prices of those factors of production used intensively by X producers rise, so do the firms' costs. This cause supply to fall as some

Producers Equilibrium or Optimal Combination of Inputs  The analysis of production function has demonstrated that alternative combinations of factors of production that are tech

Q. What do you mean by Oligopoly? Type of market condition that is most appropriate in the today's economy, is oligopoly. It's characterised by mutual interdependence among a f