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Q. select a social problem where free markets are not allowed to fuction and describe how free market features could be introduced to help alleviate the problem.
Q. Using a graph of equilibrium in the housing market, describe carefully which parties win and which parties lose from rent control.
Illustrate what is the point price elasticity of supply at the equilibrium quantity. Illustrate what is the new equilibrium quantity also price if every capita income increases to 20.
21st century insurance offers mail-order auto mobile insurance to preferred risk drivers in the Los Angeles area.
Elucidate how much consumer surplus would be created by randomly assigning buyer to sellers. Which method gives the larger surplus.
Represent graphically the effects of an expansionary monetary policy and a contraction fiscal policy in the IS/LM/FX model.
Suppose the government decides to increase taxes by $40 billion in order to increase Social Security by the same amount. Explain how will this combined tax-transfer policy affect aggregated demand at current prices.
Explain how did the invention of crack cocaine transform the urban street gang. As per the data cited in this chapter, civil rights laws and a shift in the attitudes in the United States regarding race helped to improve the status of black society..
Suppose taxes are measured in cents as in the first case, but consumption is measured as gallons consumed every month.
Assume which an innovation reduces a industry's fixed costs also reduces cost from ATC to ATC. Before the innovation reduced the cost, the industry's maximum economic profit was
Is the industry or industries in which the firm operates conducive to abnormally high rates of return.
Give an example of a product you consume for which your marginal utility increases with the amount of your consumption
If David's only illness this year results in an appendectomy, explain how many days will he choose to stay in the hospital.
The saying "Give a person a fish also he shall eat today; teach a person to fish also he will eat forever" is most consistent with.
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