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Assignment
Assume the rental market for apartments in Anytown is in equilibrium as shown in the graph below.
The city council passes a rent control law that lowers the rent to $500. If the price elasticity of demand is 1.1 and the price elasticity of supply is .3, how large will the shortage of apartment be? You must show you work to get credit.
What is the TOTAL amount of output the firm should produce and approximately how much output should the firm allocate to market 1?
"Building a model of the demand for water in los Angeles" by CoachScienceTurkey6784
Zelda Industries is the only firm of its kind in the world. Due largely to historical accident, it began producing streganomas in 1985 in a vacant warehouse. Virtually anyone with a degree in college chemistry could easily replicate the firm's formul..
Econ 111: Principles of Economics - Accelerated Treatment - Problem Set 3. Assume that the marginal rate of substitution of woolen (W) for cotton (C) socks is MUC/MUW = 6 and that the price of cotton socks is $1 per unit, and the price of woolen sock..
Suppose the expected number of breast cancer cases among a large number of 45- to 49-year-old women in this study who were followed for 7 years is 149, while the observed number of cases is 107. Is there an unusually small number of cases among As..
Describe the best ways for an organization to understand pricing within its scope of services. Are the methods that you chose ethical? Why or why not?
Assume market demand is given by P=a-Q. Suppose there are two firms (1 and 2) that engage in Cournot competition. Firm 1's marginal cost of production is 1 while firm 2's marginal cost of production is c. Calculate firms' production levels and prof..
In the 1970s, regulatory agencies allowed electric companies to pass on to customers any increases in the cost of their fuel -- a scheme that reduced companies' incentives to reduce fuel consumption and costs. Considered in the overall context o..
Which of these methods of encouraging growth would you suggest for the typical company in Hong Kong and Singapore?
Explain the Efficiency of markets, Costs of taxation and Benefits of international trade concepts using the concept of consumer and producer surplus.
Nonmarital childbearing the percent of live births to unmarried mothers for the years 1970-2007 can be modeled by the function.
For each of the following events, indicate whether the AD or the AS curve shifts. In brief describe the reasoning behind your choice.
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