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Describe what will happen in the market in the following situations.. Will there be a shortage or excess? A deadweight loss? if so, calculate the amounts. a. the government establishes a price ceiling of $30 per bushel of wheat. b. the government establishes a price ceiling of $10. c. the government establishes a price floor of $30. d. the government establishes a price floor of $10. e. price and quantity in the market compared to the desired equilibrium? Identify an example of a price floor.
if the original amount of loan is for $24000 and interest is 1/2% per month on the unpaid balance, explain how much will Kris's payments be.
where, q is the quantity demanded at price p when the person’s income is I. Assume initially that the person’s income is $40,000. Show work & calculations. At what price will demand fall to zero? If the market price for gizmos is $10, how many will b..
According to the Solow model, Japan had a __________ growth rate of output per capita than the U.S. during the 1960s and 1970s because ____________.
Data show that the age earnings profiles of woman are considerably lower and flatter than those for men. Can you explain these differences?
There is a potential entrant, who needs to pay a sunk cost of f to enter in this market. Firms may produce any quantity that does not exceed its capacity.
In markets economics, firms rarely worry about the availability of inputs to produce their products, whereas in command economies input availability is a constant concern. Why the diference.
The following questions refer to a capital budgeting problem with five projects represented by binary variables a, b, c, d, and e. a. Write a constraint modeling a situation in which two of the projects 1, 3, and 5 must be undertaken. b. Write a cons..
q.pretend you were hired to lead the presidents council of economic advisers in 2009. using the macroeconomic
Why might a company choose to produce in one low-cost country rather than another? Now consider what new challenges come from producing in foreign locations. For your new global product/service: How should wage rates be determined?
Which of the following statements about B2B market segmentation is MOST true?
A construction firm can lease a crane required on a project for 3 years for $180,000 payable now, with maintenance included. The alternative is to buy a crane for $240,000 and sell it at the end of 3 years for $100,000. Annual maintenance costs are e..
How do you calculate per capita income and capital per worker in the Solow Growth Model?
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