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1. Why does rent control result in a shortage of rental units?
2. Any time there is a shortage of a good it means that the price is too low. Analyze this statement.
3. The governement's "war on Drugs" has been a complete failure. Is this a demand issue or supply issue? Depending upon your answer, what would be a more economically efficient way of approaching the problem
Discuss and explain wage determination in a labor market in which workers are unorganized and many companies actively compete for the services of labor.
Adjust the graph to show the effects of improvements in farm technology. Explain the processes underlying these effects. You may clarify your response with hypothetical prices and quantities.
The price elasticity of demand for fresh tomatoes has beenestimated to be -2.22. If a new insecticide and fertilizertreatment yields a 20percent increase in the nation's fresh tomatocrop, how will that affect total expenditures on fresh tomatoes
The impact of Alfred Marshall on economics has been profound; write a short biography (1 page) with sources that outlines his contributions to the field.
What happens in the market for oranges if there is a hurricane that destroys the orange crop and explain why is strategic interdependence important for market structure of oligopolies?
An increase in the demand for notebooks raises the quantity of notebooks demanded, but not the quantity supplied.” Is this statement true or false
The demand for energy in the United States is often stated as persistently non-cyclical and not sensitive to both prices effects. Given such characteristics, explain the effect of each of the following on the demand or supply for gasoline.
Mary's utility function over leisure and consumption is U(L,C) = L2
Outline the human capital and signalling approaches
What market structure is used to benchmark allocative efficiency and why do we use it? Illustrate and explain using a diagram
A clinic has $1 million in revenues and $950,000 in costs.What is its operating margin and its return on investment and is it adequate?
Someone claim that immigration must always be good for economy because the raised supply of labor will result in a higher GDP. Estimate this statement.
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