Why is it important that prices are flexible in our economy

Assignment Help Microeconomics
Reference no: EM131165153

Why is it important that prices are flexible in our economy? Do you think the government should control the level of prices for products that are really important, ie. gasoline?

Reference no: EM131165153

Questions Cloud

What factors influence the demand for the product : What factors influence the demand for this product? What factors influence the supply of this product? How have these changes in supply and demand affected the equilibrium price of this product?
Calculate the ere compressive stress on a soil pat : Calculate the ere compressive stress on a soil pat at the shrinkage limit where the avenge diameter of the surface poem is 0.001 mm.
Critically analyze ron challenging behaviors : Critically analyze Ron's challenging behaviors to determine contributing factors (as presented in Level A Case 1). Construct two specific strategies for addressing Ron's challenging behavior, describe the implementation plan and desired outcomes
Change in the price of one good relative to another : In a case where there is no change in the price of one good relative to another, what happens to the budget line?
Why is it important that prices are flexible in our economy : Why is it important that prices are flexible in our economy? Do you think the government should control the level of prices for products that are really important, ie. gasoline?
What is the density of the soil solids : During a shrinkage limit test on a silty clay. the volume of the dry soil pat was found to be 10.76 an' and its dry mass was 22.68 g If the shrinkage limit was 11.1. what is the density of the soil solids?
Discuss what gdp is and what it measures : Discuss what GDP is and what it measures? Discuss what the shortcomings (limitations) of GDP as a measure of well-being and welfare of a nation are?
Select a company that uses one of the structures : For each structure/model, select a company that uses one of the structures/models, and discuss the reasons why the company selected that approach based on the product or service that they market (e.g., commodity versus luxury).
How do companies develop economies of scale : How do companies develop economies of scale? Why do economies of scale often result in monopolistic or oligopolistic markets? Explain the role of government in regulating these monopolies or oligopolies?

Reviews

Write a Review

Microeconomics Questions & Answers

  Assignment describes price elasticity of demand income

assignment describes price elasticity of demand income elasticity of demand and cross elasticity of demand of toyota

  Explain the past affect of elasticity of demand for labour

The owners of the copper smelters to operate each smelter longer than has been the practice in the past affect the elasticity of demand for labour in the copper industry.

  Explain why the income of farms falls

Agricultural commodities are known to have a price-inelastic demand and the be necessities, How can this information allow us to explain why the income of farms falls (a) after a good harvest? (b) In relation to the incomes in other sectors of the..

  Calculate the iterest rate that udwellum should pay

Suppose that the goverment of the city of Udellum, wich has a Baa credit ratng issues a bond with the same time to maturity in a market that is just as liquid as the market for corporate bonds. Suppose that investors have a federal tax rate of 30 ..

  Describe how capital and labor affect production function

Describe how capital and labor affect the production function for both a toy manufacturer and a retailer during the Christmas retail season.

  The growth rate of population in country a is greater than

suppose that two countries a and b have the same rates of investment and depreciation the same levels of productivity

  Uses of the budget lines and indifference curves

When the price of X is $1 and the price of Y is $1 and income is I, Joe Panther spends $100 on good X. How many units of goods X and Y does Joe purchase before the price increase and finding the $100.

  What is the cost per cubic inch of the best alternative

While studying for the engineering economy final exam, you and friends discover yourself craving a fresh pizza. You can't spare the time to pick up the pizza and must have it delivered. Pick Up Sticks offers a 1.25 inch thick (including toppings), 15..

  Global competition fosters or impedes price discrimination

As markets for some products and services experience greater global competition, what is the likely consequence for the incidence of price discrimination? Do you think global competition fosters or impedes price discrimination?

  How has the demand of luxury and necessary goods changed

How has the demand of luxury and necessary goods changed over the past 5 years? In your opinion, why has the supply of fuel efficient vehicles increased over the past 5 years?

  Did ehrenreich make a good low-wage worker

Did Ehrenreich make a good low-wage worker - What could she have done differently to make her circumstances easier to manage?

  What specific economic policies would you propose

Applying the principles of the Keynesian model, what specific economic policies would you propose to accomplish these goals

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd