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Q1. The city council realizes that the telephone company could curtail pay phone service in response to the ceiling. To prevent this, the council plans to impose a requirement that the telephone company must maintain the current number of pay phones. In light of this additional restriction, what will be the likely impact of the price ceiling?
Q2. At the market-clearing price and quantity of $30 per hour and 4000 hours of gardening services, we can say that
a) Economic surplus could be increased at a higher price because firms would generate more revenue.b) The market is efficient because the government has imposed a market-clearing price and quantity.c) Economic surplus could be increased at a lower price because there would be more value to consumers.d) The market is inefficient because there are some consumers who are not purchasing at this price.e) Economic surplus is maximized and the market is efficient.
Illustrate what is the price elasticity of demand. What is the cross-price elasticity of demand. Suppose the price of the good, P, goes to $2.00.
What What marketing strategies should Radiance pursue in the next five years? Explain why the strategies you select would best fit the organization. in the next five years? Explain why the strategies you select would best fit the organization.
illustrate what is the largest cardholder fee that Tuan will pay. the long run a perfectly competitive firm experiences economic profit and new firms will enter the market.
Explain why this phenomenon may be a good thing, using the laws of supply and demand to explain your answer.
How much will total output increase in terms of percent? What happens to the rental price of capital? What happens to the real wage?
If Farmia opens trade with a country with identical tastes, what will happen in short run to: Farmia's production of wheat and coffee. What information or theorem did you use as basis for you answer.
If the government were to make university attendance mandatory and subsidize tuition costs with tax dollars, how might this affect a nation's economic growth?
Elucidate how industry consolidation has impacted the company and make projections about the long-term prospects for the company.
If you were in this industry also there was an increased demand for the product which pushed up the price of goods
Elucidate how a recessionary output gap would emerge in an economy where long-run aggregate supply curve is persistently shifting to right.
Mexico also which being free to pollute gives industries in Mexico an economic advantage over those in the U.S. also Canada.
Explain the role culture may play in influencing entrepreneurship both at the individual and social level. Define culture in your response.
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