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Assume the government sets a price ceiling below the Pe. Plot this price ceiling price on your diagram. What is the new market situation? How will it be decided who can buy the quantity supplied of gasoline?
1. How has the price ceiling affected consumer surplus? Why did it have this effect?
2. How has the price ceiling affected producer surplus? Why did it have this effect?
3. Has a deadweight loss been created? Why? Does the price ceiling cause economic inefficiency?
Explain the law of demand. Why does a demand curve slope downwards? Distinguish between a change in demand and a change in quantity demanded.
Suppose that the allocatively efficient output level in long-run equilibrium is 210 meals. Is the deadweight loss for this firm greater than or less than $60?
What is the long-term equilibrium enrollment in the tuition reimbursement sub-program and which sub-program's long-term equilibrium would be more greatly affected?
Calculate output, marginal cost, average cost, price, and profit at the average cost-minimizing activity level and calculate these values at the profit-maximizing activity level. Explain your answers briefly
Which of the following industries is most likely to exhibit the characteristic of free entry? cable television , t-shirt silkscreening
Suppose that there is a cultural shift in America emphasizing the importance of saving money as opposed to current consumption. a.) Illustrate the impact on the interest rate in the market for loanable funds. What direction does the interest ra..
Despite the empirical evidence to the contrary, college decision-makers often believe that their price elasticity of demand is essentially zero. Is that right How important were price considerations in making your college decision Would a change o..
Milk becomes more popular amd better feed increases milk production. how do these events influence demand and supply describe how the equilibrium price and equilibrium quanity changes.
A monopolist sells in two geographically divided markets, the East and West. Marginal cost is constant at $50 in both markets. Demand and marginal revenue in each and every market are as follows:
1. How do the federal rules of evidence address the originality of computer data in relation to the best evidence rule 2. Are the hearsay rules applied differently in cases of computer related evidence
Would warehouse operators insist on owning their own trucking companies What coordination and control problems and contractual hazards would these companies encounter What organizational form would warehouse operators and truck hauling companies a..
The WSJ recently reported that Juniper Networks plans to offer its more than 1000 employees opportunity to reprice their stock options.
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