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Suppose that the government places a ceiling on the price of a medical drug below the equilibrium price. a. Show why there is a shortage of the medical drug at the new ceiling price.
b. Suppose that black market for the medical drugs arises,with pharmaceutical firms secretly selling the drug at higher prices.
Illustrate the black market for this medical drug,including the implict supply schedule, the ceiling price,the black market supply and demand, and the highest feasible black market place.
determine the two equal deposits the first deposit required now and the second deposit at the end of year 6 so that you
If a purely competitive firm is producing at an output where marginal revenue exceeds marginal cost, the firm will increase its profit by
Estimate the weekly sales for the typical McPablo's outlet and what is theniffent price elasticity for tacos? What is the advertising easnaty - should McPablo's raise its taco pdce? Why or why not?
reflect upon the it strategies that are used to encourage economic development. select two strategies and discuss how
Explain why there is a blurry line dividing objects that are “money” from those that are not. Give examples of some clear-out cases? And some borderline ones. Could the position of this blurry line change over time?
Discuss what is, and what is not, included in calculating GDP
Two metal blocks, one at 50o, and the other at 0o are set next to each other in a perfectly insulted box at time t = 0. At this instant are the blocks in thermal equilibrium? Now suppose you wait a long time. Are they in equilibrium now?
you have been part of the orthopedic center for 5 years. in that time you have seen the center grow and the need for
Suppose that you are currently a college senior. You are currently working a part-time job that pays $2,000 per year (call it Y1), but you expect to earn $20,000 next year (call it Y2), after you graduate. Assume that there is no inflation and..
Suppose that the Federal Reserve thinks that a stock market bubble is occurring and wants to reduce stock prices. What should it do to interest rates?
Briefly describe the relationship between the three rates.
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