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1. Apartments in New York City are subject to rent control. Apartment owners there often require tenants to purchase their furniture from them. Why?
2. In the long run, a firm could always produce twice as much simply by doubling the amount of every input employed. So in the long run there must be constant returns to scale." Evaluate.
3.In a competitive industry, for any firm there may be internal economies of scale over a certain range. But each firm must operate in the region where internal diseconomies of scale dominate." True or false? Explain.
4 .Under what circumstances would you expect a rise in demand for an industry's product to be met primarily by a short-run output response by existing firms? By a long-run response by existing firms? By entry of new firms?
The management of a local restaurant wants to determine the average monthly amount spent by households in restaurants. Some households in the target market do not spend anything at all, whereas other households spend as much as $300 per month. What s..
Explain why an increase in the wage rate for autoworkers will generate more of a negative employment response in the long run than in the short run. Assume there is no productivity increase and no change in the price of nonlabor resources
Is the product considered elastic, inelastic or unitary elastic. In a few sentences Illustrate what effect does the present supply also present Demand have on this product.
Explain how that the balance sheet balances if these are the only assets and liabilities.
In March 2007 it was announced that several restaurants in the greater San Francisco area would no longer provide bottled water to their patrons to save.
nalyze that local government’s revenues and possible funding options for the chosen public policy. Additionally, utilizing the local government’s annual budgeting documents and any other pertinent documents, incorporate the following into your paper:
Should the Government Control the Economy? STEP 1 Research arguments for and against one of these topic questions: Should government raise the minimum wage? or Should government set the price of gasoline?
Suppose there are two firms in a market that each simultaneously chooses a quantity. Firm 1’s quantity is q1, and firm 2’s quantity is q2. Therefore the market quantity is Q = q1 + q2. The market demand curve is given by P = 160 – 3Q. Also, each firm..
Discuss the idea of DRG-based prospective payment mechanism for hospitals. Discuss the potential effects of DRG payment on quantity of services produced by the hospitals, composition of different types of services offered, incentives for adoption of ..
Dan and Neil are playing Settlers of Catan. Dan has rolled a seven and just put the stopper on a Field which touches one of Neil’s Settlements. Since Dan is a real jerk store, he decides to steal one of Neil’s two cards. Neil has a Grain and a Wool r..
How will this fee affect the profit maximizing price and quantity? How will this fee affect the monopolist's profit?
Here are five values for different types of elasticity. Assume that prices rose by 10% in the calculations for the price elasticity of demand and also in the calculations for the cross price elasticity of demand. In a multi-paragraph essay, explain w..
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