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Analysis on price ceilings and floors. Talk about a product that you use that has or had been placed into a price control (floor or ceiling). Now that the economic impact of controls have been explained to you do you think the controls are necessary or helpful? What may occur if the price controls are done away with?
Discuss the development of industry, transportation, and urban areas in the 19th century. What factor did technology play in this process? How did these developments serve to divide the North and South even further apart? In what ways did these devel..
Describe three problems of decentralization that occurred under the Articles of Confederation. For each problem you list, identify one solution that the Constitution provides to address the problem.
All else equal, if demand is relatively elastic and supply is relatively inelastic, a tax on a product will cause:
A temporary group of employees responsible for bringing about a particular change is a
What would be the resulting effect on equilibrium price level - explain. What will be the effect of the different tools of fiscal policy to stabilize the economy?
Calculate the Equilibrium buyers and sellers price with no sales tax, and then with 20% sales tax. Assume: S(P^-)=50 + 3P^- D(P^+)=370-3P^+
A firm has $2,100,000 in sales, a Lerner index of 0.6, and a marginal cost of $45, and competes against 800 other firms in its relevant market. What price does this firm charge its customers? what factor does this firm mark up its price over marginal..
Suppose that there is a temporary, but significant, increase in oil prices in an economy with an upward-sloping SRAS curve. If policymakers wish to prevent the equilibrium price level from changing in response to the oil price increase, should they i..
Assume a perfectly competitive market structure. Complete the diagram to show the profit maximizing price and quantity. Label each (use Insert textbox). Is the firm earning economic profits or losses? If so, what will occur over the long-term?
Suppose that the firm’s production function is given by Q = 10KL1/3. The firm’s capital is fixed at K. What amount of labor will the firm hire to solve its short-run cost-minimization problem?
In what type of merger wave is the U.S. economy currently situated? For what reasons are companies merging? What are the risks and benefits of these types of mergers?
Suppose that a second worker became available. Elucidtae the resulting change in production possibilities. Now what would be the opportunity cost of sanding two floors.
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