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You currently pay $10,000 per year in rent to a landlord for a $100,000 house, which you are considering purchasing. You can qualify for a loan of $80,000 at 9% if you put $20,000 down on the house. To raise money for the down payment, you would have to liquidate stock earning a 15% return. Neglect other concerns, like closing costs, capital gains, and tax consequences of owning, and determine whether it is better to rent or own.
Explain how effects of rent control are very noticeable to the public in the short run, because the primary effects of rent control occur very quickly.
They could each decide to work a few extra hours on Saturday and earn more income. But they choose to play tennis or to relax around the house.
Elucidate how do the firms decide how much to charge. Use the Cyberlibrary or internet search engines to pick your own example of price discrimination.
Assumptions make the nation easier to understand because they simplify reality and focus our attention.
Elucidate what impact on quantity demanded and supplied for cars will be if oil costs rise to $200 per barrel. Illustrate what about if extreme recessionary conditions prevail.
Discuss whether or not oligopolies are always bad for society, using examples from the industries you described.
Find a pop culture reference (from TV, movie, music, magazine...) of an economic concept. The reference can be anything we have covered in class.
In Japan, Toyotas can be produced at 1,900,000 yen and Chevrolets at 1,600,000 yen. In terms of Chevrolets, illustrate what is the opportunity cost of producing Toyotas in each country.
Suppose price of widgets is $10. How many widgets does each firm produce. How much profit does each firm earn. Is industry in long-run equilibrium? How do you know.
Suppose the US government places a ceiling on the price of internet access also a black market for Internet providers arises, with internet providers developing hidden connections.
Explain how will this event affect the equilibrium price and quantity of Florida oranges.
If the firm has a monopoly in product A and product B is sold in a competitive market, then what is the profit-maximizing tie-in sale price of product A?
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