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What is the difference between a price ceiling and a price floor? What will happen if a price ceiling is imposed below the market equilibrium? If a price ceiling for a good is set below the market equilibrium, what will happen to the quality and future availability of the good? Explain.
Using a separate supply and demand diagram for each part, illustrate the effect of value of the yen in terms of dollars of each of the following;
As an worker of World Bank, you have been tasked to research one economic concern in an Asian nation and write a report on your findings.
What do you think about the most important determinants that impact demand for banking industry's product or service and determine the impacts of innovation and technology on the cost of production?
Let us assume you and ten of your friends are going to open and invest in a business. You do not want to pay double taxation on the profits. You want a type of ownership where profits must be distributed based on how much each person has invested ..
Why might price collusion occur in oligopolistic industries Assess the economic desirability of collusive pricing. What are the main obstacles to collusion? Speculate as to why price leadership is legal in the United States, whereas price-fixing i..
Courts in Japan have recently begun to make awards to the families of workers who have been judged to have been "worked to death." That is, employers have been increasingly required by courts to make large financial payments
Political Economy GV307 : Consider the model of “no theft” where the consumer pays the official government price plus a bribe in order to obtain X. Assume that the official marginal revenue for selling the good in this context is given.
First, what does GDP measure? Even if we prefect the measure by correcting for price increaase, what does GDP really tell us? Is GDP a measure of the nation's economic health?
Suppose that the rate of depreciation as well as the rate of saving are each .10. Also assume that there is no technological nor population growth.
Using the equation in (c) show that if the capital/labor ratio K/L is a constant k, the elasticity of output with respect to labor is b + c. (e) Why are relationships expressed like those in (c) important for doing econometrics? (f) Show that the ..
How do the different economic systems (capitalism and socialism) differ in the way they answer these three questions - What to Produce? How to Produce? and For Whom to Produce?
At what output is AVC at minimum? If the market price of firm's output is $7 per unit, should the firm produce or shut down?
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