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While referring to the "EYE on YOUR LIFE" section on page 183 of the textbook, apply this concept to your life. Develop your own policy position on price floors and price ceilings. Discuss your policy position by utilizing the examples included in this section.Price Ceilings: Establish and discuss your position on price ceilings as to whether you believe we should continue to have a zero price for using a freeway. Or should we have transponders mounted on the dashboards of vehicles, as practiced in Singapore, which clocks-up the costs for driving around the city. This technique may be a non-starter for you, although, could you imagine the result of such a technique? You may never be stuck in slow-moving traffic again.Price Floors: Establish and discuss your position on price floors as to whether you believe we should continue to have Government regulated minimum wage law. Discuss how you may have encountered a price floor in the labor market when you wanted a job, for which you were willing and available to work, but unable to get hired. Would you have taken a job for a slightly lower wage if one had been available?
Discuss the potential risks of using Web 2.0 tools. Provide several examples. What are the benefits of "build-to order" to buyers and sellers? Are there any disadvantages?
In our treatment of the Ricardian model We have focused on the case of trade involving only two nations. Assume that there are many nations capable of producing two goods
The following is the production possibilities for a firm. At 0 labor units (strangely enough), there are 0 units produced. At 1 labor unit, there are 10,000 units produced, at 2 labor units, there are 25,000 units produced, at 3 there are 45,000, ..
Assume that the two rival "Super Stores", Walmart and Target both adopt price matching rules. If people can discover lower advertised values on any items they sell, then they will match the lower prices.
Assume a company has the following demand equation, Q = 1,000 - 3,000P + 10A, where Q = quantity demanded, P = product value, and A = advertising expenditures
Using Minitab estimate the expected value of its profits and standard deviation of profits and calculate the expected value of returns of stock A & B
Your are the chief economic advisor to the King of Terra. The king has observed that while the price of energy has increased 20 percent over the past five years, consumers have actually increased their energy consumption by 10 percent over the sam..
As in part A there is a 50% chance the share market crashes. If John maximises expected utility, what value of ß should he choose?
Make a short treatment on the examine governments take to promote exports and restrict imports. Describe who profits and who loses from protectionist rules as they relate to net outcome for society.
Find linear demand and supply curves that are consistent with this information and how would the equilibrium price of ethanol motor fuel in the first half of 2008 compare to the price in 2007?
Consider the preferred prices of the authors and publishers of the electronic book, whose marginal cost of production is close to zero? Would the two disagree regarding the price to be charged for book?
Assume you run a pizza store and currently have two workers. If you hire a third worker, your output of pizzas per day rises from 55 to 65.
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