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What are your thoughts about minimum wage legislation? What kind of a price-control policy is this? Who gains? Who loses? Are there alternatives to this legislation for achieving the same policy objectives? What role do demand and supply elasticities play in determining outcomes
Show the effects of a price ceiling and a price floor on a market. As for what happens with valuing is different than equilibrium, a rate Floor is Minimum wage where wage rate is bigger than the rate at equilibrium.
Find all Nash equilibria in pure strategies and what is the Pareto Optimal outcome under collusion? Show that this outcome is not sustainable.
Explain the factors of production and give an example for each one and what is the difference between a normal good and an inferior good? How does this relate to the demand curve
The government wants to decrease the consumption of electricity by 10 percent. The price elasticity of demand for electricity is -0.4.
How will this change the industry output and market share for each company and is there any incentive for any company to cheat under either of the conditions in tasks a and b? Why or why not?
Explain why fitting a line of best fit through observed price and quantity combinations over time is not likely to yield good estimates.
Which graph best illustrates the market for typewriters after technological advances in computerized word-processing software occur - different markets with changes in either the supply curve or the demand curve.
WHAT IS THE CURRENT UNEMPLOYMENT RATES? WHAT FACTORS AFFECT EACH OF THESE ECONOMIC VARIABLES?
What is cost of AFC per paper, what is MC per paper and what is minimum amount must charge to break even on costs?
Does the presence of online auction sites, such as eBay, make it easier or harder for traditional retailers and wholesalers to engage in profitable price discrimination? Explain.
Employ the following data for the pure monopoly to compute the firm's: (a) total revenue, marginal revenue, marginal costs, and average total cost
The Interior Department recently announced that it will increase the entrance fees at Yellowstone National Park in order to increase park revenues. The Interior Department must believe that
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