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1) What is a price ceiling? 2) Why is there a need for rent control in Los Angeles? 3) How does rent control affect the real-estate market? 4) Are you in favor of rent control or not, and why? 5) What needs to happen to prevent scarcity from re-occurring in the future?
List four shift factors of demand and their effect on demand. Shifts in demand for the good. An increase in the demand for a good shifts the demand for labor to the right. The elasticity of demand. The more elastic the demand, the more the demand cur..
Is it possible to trade foreign exchanges in the future markets? How does such trading differ from the forward market?
Raymond decides to set up a lemonade stand every weekend for the next four weeks to save up for the latest x-men comic. He has to pay his brother Robert $10 as a one time payment for him to not bully Raymond or drive his customers away.
A 50-kilowatt gas turbine has in investment cost of $40,000. It costs another $14,000 for shipping, insurance, site preparation, fuel lines, and fuel storage tanks. The operation and maintenance expense for this turbine is $450 per year. Additionally..
examine the following list of goods and services. which goods and services should be included in fredonia gdp in 2009
Charlie has a utility function U(A, B) = A2 B3 , the price of apples is $3, and the price of bananas is $2. If Charlie’s income were $120, how many units of apples would he consume if he chose the bundle that maximized his utility subject to his budg..
(a) Sketch the following curves and provide an explanation for their shape
Injection molding machines are needed to be replaced at a company. The list is narrowed down to two options based on various parameters like screw diameter, injection pressure, injection capacity, rate, and screw rpm and so on. calculate the PW of th..
Suppose that low-skilled workers employed in clearing woodland can each clear one acre per month if each is equipped with a shovel, a machete, and a chainsaw. Clearing one acre brings in $1500 in revenue. what will the firm’s economic profit or loss ..
The XYZ Company is a porfit-maximizing firm with a monopoly in the production of UIC sweatshirts. The firm sells UIC sweatshirts for $25 each. We can conclude, therefore, that XYZ Company is producing at a level of output at which: Assume a monopolis..
Write down the total and marginal revenue functions (d.) Suppose there is a 4 % increase in advertisement. What will be the effect on demand?
Find the optimal output and retail price for a vertically integrated monopolist, either using a graph or calculus. Illustrate answer with graph.
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