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Florida, like several other states, has passed a law prohibits" Price gouging " immediately before, during, or after the declaration of state of emergency. Price gouging is defined as"''.... selling necessary commodities such as food, gas, ice, oil and lumber at a price that grossly exceeds the average selling price for the 30 days prior to the emergency. " Many consumers attempt to stock up on emergency supplies, such as bottled water, immediately before and after a hurricane or other natural disaster hits an area. Also, many supply shipments to retailers are interrupted during a natural disaster. Assuming that law is strictly enforced, interrupted during a natural disaster. Assuming that the law is strictly enforced, what are the economic effects of the price gouging statue ? Explain Carefully.
A developer has recently offered US Airways 2.5 million for the land. Should US Airways gives training facility at this locations.
the number of hours per week supplied to a particular market by three individuals at various wage rates. Compute the total hours per week supplied to the market.
Some say that there are powers that the Constitution reserves to the States that the Federal Government has intruded upon since the founding of the country. Discuss and provide one example where it could be argued that the Federal Government has intr..
When cantaloupes at a farm stand cost p dollars each, q cantaloupes are sold, where p and q are related by the formula q2+4pq+p2=19. Find a formula for the price of elasticity of demand for the farm stand cantaloupes. If p=2, is the demand elastic, i..
A regulated natural monopoly has the following data: if the firm is ordered to price its good so that there is locative efficiency then the firm will have?
Would you change your business entity before you hire any employees? Why or why not? If so, what kind of entity would you select. Explain. Do your readings this week deter you from hiring any employees or continuing with your car detail business?
According to the imperfect-information model, when the price level rises by the amount the producer expected it to rise, the producer:
Suppose GDP is $8 trillion, taxes are $1.5 trillion, private saving is $0.5 tirllion and public saving is $0.2 trillion. Assuming this economy is closed, calculate consumption, government purchases, national saving, and investment.
The higher a country's tax rates, the more likely that country will be:
Suppose there are two sectors of the construction industry that currently pay their employees the market-clearing wage. The demand for labor in each sector is MRPL=20-L, where L is the number of workers (in thousands). The supply of labor in each sec..
Suppose that a perfectly competitive firms’ Total Cost function is given by: SRTC(q) = 50 + 80q –10q2 + .6q3. What is fixed cost equal to? What is Variable Cost equal to? What is Marginal Cost equal to? What is Average Variable Cost equal to? Find an..
If a company or municipality requests the terminating of a pension in bankruptcy, the court first has to determine that the company/municipality is otherwise insolvent. The company/municipality does not get to decide that for themselves, and they do ..
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