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Critically analyze the pros and cons of putting a price ceiling on prescription medicine. Make sure to use concepts from the chapter in this unit such as government intervention, inefficiencies, price elasticity, etc. in your answer.
What is true about the relationship between marginal revenue and marginal costs when profit is the greatest?
question 1 a toy manufacturer is experiencing quality problems on its assembly line. every defective toy that leaves
Consider the iron ore production industry and assume that there are just two producers. Both of firms are identical in terms of their production cost, if the two firms can cooperate, what should they do to maximize industry profits? how does your ans..
select six products orand services that you consume and write an analysis of the elasticity of demand for each of the
Consider a production function of two inputs, labor and capital, given by Q=( L^1/2+ k^1/2 )^2 The marginal products associated with this production function are as follows:MPL=[L^1/2+K^1/2]*L^(-1/2)MPK=[L^1/2+ K^1/2]*k^(-1/2)Let w =2 and r = 1.
There is some evidence that people have become more sensitive to air pollution. In other words, people are willing to pay more for clean air. If this is true, what influence will it have on the location decision of firms?
Why might banning advertising drive up prices? Why have economic analyses of clinical and administrative innovations become more important? What does it mean to have market power? Are firms with market power extremely profitable?
1. I believe I improved my knowledge within this class in multiple ways a few of these include being able find research better. I also was able to learn a lot form this class and gained vast amounts of knowledge that I previously did not know. I also..
In general, which of the following methods is the most costly and risky in estimating market demand?
1. why does rent control result in a shortage of rental units?2. any time there is a shortage of a good it means that
Suppose that federal law requires that the price be the same in both locations. What price will Kayla charge now? How many gallons will be purchased? And what happens to her profit?
Draw a supply/demand diagram of the market for "loan able funds" in the U.S. Use the "interest rate" as the "price" of loan able funds on your diagram. Show the effects of a rise in the expected inflation rate on your diagram.
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