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A price ceiling for maple syrup caused a shortage, which led to a black market price of ($4) higher than the initial equilibrium price($3). suppose the price ceiling remains in place for years.over time some maple syrup firms go out of business. with the fewer firms, the supply curve in the figure shifts leftward by 10,000 bottles per month. After the shift in the supply curve: what is the shortage caused by the $2 price ceiling? provide a numerical answer
Say whether the statement is true, false, or uncertain, and support your answer using concepts discussed in class (only the explanation will be graded and not the T/F choice). If needed, you may do some additional research on these topics.
You are given the data below for 2008 for the imaginary country of Amagre, whose currency is the G. Consumption 350 billion G Transfer payments 100 billion G Investment 100 billion G Government purchases 200 billion G Exports 50 billion G Imports 15..
Discuss at least four characteristics of a good business and identify and talk about at least four companies that you regard as having the characteristics of good business.
Describe the concept of the law of "diminishing returns" and why does it take place only in short run? Differentiate between "the long run return to scale" and "economies of scale."
There's quite a bit to be said about face-to-face interviewing for sure. But, there's also some drawbacks and you named two major ones: cost consideration and time spent (not to mention, manpower and location). what's one benefit of collecting da..
Dunkin Donuts raises the price of its French Vanilla coffee by 15%. The demand for Dunkin Donuts glazed doughnuts will change by what percentage and in what direction?
A copper mining operation discharges waste products into a river and causes higher costs and discomfort to downstream users of the water.
The owner of a flower shop needs a short-term loan to tide her business over until she completes the sale of some unused property.
Using the compounding annual interest rate from above, what is the nominal, period interest rate and corresponding effective interest rate if compounding is hourly? Assume 30 days per month,What is the annual compounding interest charged?
Describe how the Law of Diminishing Marginal Product results in u-shaped average cost curves, both Average Total Cost and Average Variable Costs
Explain the difference between accounting profit and economic profit. Include discussion of the distinction between explicit and implicit costs and how they relate to economic cost and opportunity cost.
If the firm wants to produce one unit of output at minimum cost, how much should it produce in each plant? If it wants to produce two units of output?
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