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a) Draw the supply and demand for apartments. Assume in this market all apartments are identical, so there is only one equilibrium rent ("price" of an apartment). Show the rent as $800 per month.
b) Show the effect of a law preventing landlords from raising rent above $700. Does this cause a shortage or surplus? Is this a price floor or a price ceiling? How would a law preventing landlords from charging above $900 give different results. What is such a price restriction called?
Elucidate why those rates may be more meaningful as a measure of change across time than the actual numbers of those events."
Suppose that C (q) = 10q + 3,500,000 (for which MC (q) = 10 ). Use Inverse Elasticity Pricing Rule in order to determine profit maximizing price and level of output for this firm. Is this firm able to earn a positive profit.
Lane is responsible for reviewing the standard costs. While revieweing the standard for the coming year, two ethical issues arise.
Explain how the market for corn would be affected if ethanol, a corn derivative, was used to fuel cars in the united States. How would the market be effected if new technology cause corn farming to be more efficient.
A price index for nonresidential construction was 14 in 1949, 92 in 1987, and 114.5 in 2000. As per to these numbers the hospital cost about how much in 2000 dollars. Explain the price of a good is above equilibrium.
If the price falls to $2, how does quantity demanded change. How does Bert's consumer surplus change. Show these changes in your graph.
explain the difference among moving along a curve and shifting the curve. Assume a market is in equilibrium and the demand curve shift to the right, describe the market adjustment process in restoring equilibrium.
Why is it important that speeches be organized clearly and coherently? How does the oral format of your message impact audience understanding?
When an incumbent maintains a price below the monopoly price in order to prevent entry. The act of charging a low price initially upon entering a market to gain market share.
demand for its tennis balls by using the subsequent linear specification
suppose a student athlete has the opportunity to earn $800,000 next year playing basketball, $700,000 next year playing basketball or $0 going to college. what is the opportunity cost of going back to college
A common marketing tactic among many liquor stores is to offer their clientele quantity or volume discounts.
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