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Your essay should be 2-3 paragraphs long, your thoughts should be well organized and you should address the following questions:
Let's say that the government imposes a price ceiling on gasoline, what would be the positive effects of the price ceiling?
What would be the negative effects of the price ceiling?
What are some alternative possibilities to alleviating the negative effects of the imposed price ceiling?
BP was subject to world- wide condemnation for the Gulf of Mexico major incident ( Deepwater Horizon, April 2010), being the largest marine oil spill in history. From the perspective of (a) Systems- oriented theories and (b) Social and Environmental ..
Over the past decade medical costs have increased more rapidly than other prices. In order to illustrate how rising medical costs have affected consumer alternatives, let X represent the quantity of medical services, and let Y represent the quantity ..
Many economists have attempted to create a set of social accounts that would come closer to measuring the economic well-being of the society than does GDP. What modifications of the current approach would you recommend to them?
What proportion of the tax is paid by the seller? What proportion of the tax is paid by the buyer? compute income elasticity Is your good a normal good or an inferior good?
Assume the demand for plastic surgery is price inelastic. Are the following statements true of false? Explain. When the price of plastic surgery increases, the number of operations decreases.The percentage change in the price of plastic surgery is le..
If the prices of all products are raising at 5 percent per year and your employer gives you a 5 percent salary increase, are you better off, worse off, or equally well off in comparison with your situation a year ago? Use indifference curve analysis ..
Many people believe that Congress will eventually have to reduce Social Security benefits in order to reduce the budget deficit. Although most of the changes would not take place until later, assume for the purpose of this problem that Social Securit..
q. you have been hired to manage a small manufacturing facility whose cost and production data are given in the table
If a monopolist can represent the demand of its product as Q = 100 - P and its marginal revenue from sales as MR = 100 - 2Q, where Q is the quantity of production and sales and P is a uniform price charged to each customer, and has a constant margina..
Quantity of pizzas demanded soared following week from 1 pie an hour to 100 pies an hour. What was price elasticity of demand for Domino's pizza.
Explain how the Union of concerned Scientists analyzes chronic disease in the US as a political economy problem. How would their cost-benefit approach to agricultural policy save $11 trillion?
For what values of Z does Heidi accept two independent plays of the bet? iii) is is possible for Heidi to reject the single bet but accept the aggregate bet?
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