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1. Why does rent control result in a shortage of rental units.
2. How does price elasticity of demand affect how much of a tax is passed on to the consumer and how much is absorbed by the seller. Describe the effect with graphs.
3. Why will monopolistic firms make economic profit in the short run bot not in the long run. Describe and show graphically.
4. Your brother-in-law wants to borrow $1000 from you but he has a fit when you tell him he will have to pay you the same pecentage of interest on the loan that the bank gives you. Are you justified? Why or Why not?
5. During the 1930s Jewish fighters dominated boxing. From the around 1975 until the present, blacks have dominate basketball. Describe the cause(s) underlying these two situations.
If we were to evaluate the "best-case scenario" from anefficiency standpoint of public-private partnerships, what would bea reasonable breakdown between private sector vs. public sectorspending for an increment of $1.
Let the utility function be U = log(x) - l, where l is labour and x is consumption. Find the level of labour supply if the wage rate w=10.
If each vendor sells exactly 100 hot dogs a day and the demand for hot dogs from vendors in the city is Q = 4400-1200P, how many vendors are there?
Suppose consumers' income is $50,000 and the price of satellite TV service is $90. At what price would the demand for cable TV services be 55,000 households?
Mutual funds: Provide another source for borrowers to take out a home mortgage. Provide another source for borrowers to take out a home mortgage.
You are the marketing manager for ABC Tires. The manufacturer of the newest 4-wheel drive tire, Torso, is working with you to create an integrated marketing campaign to reach your customers. What would be the first step in reaching your prospectiv..
When obama was campaiging for president in 2008 he proposed more government spending paid for with higher taxes on the rich. What impact would those options have on the equilibrium?
The government is considering a policy to reduce air pollution by restricting the use of "dirty" fuels by factories. In deciding whether to implement the policy, how, if at all, should the likely effects of the policy on real GDP be taken into acc..
Which has more impact: a doubling of the jobfinding rate or a halving of the job-separation rate? Does your result have any implications for government policy?
The kinked demand curve describes price rigidity. Explain how the model works. What are its limitations? Why does price rigidity occur in oligopolistic markets?
What happens to consumer surplus and what happens t o the economic profits earned by Widget Corp.?
Explain and show graphically how this market would be affected if there is an increase in the number of dairy farmers that produce hormone-free milk and at the same time south african consumers choose to be more healthy
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