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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.
n a competitive market place (pure competition) is it possible to continually sell your product at a price above the average cost of production.
The details about three identical firms operating in Cournot competition are given. The demand curve with marginal revenue, profit maximization, optimum quantity, total demand and market price related questions are answered.
Developing a regression model with Sample Regression Model
Describe each of the subsequent using supply and demand diagrams.
What is the Marginal Rate of Transformation between sugar and tea?
Demand and supply schedules
Price elasticity of demand, Income elasticity of demand and Cross elasticity of demand of toyota corolla car.
Neolithic Revolution
Question about micro economics- Sam Smith owns an internet radio company that has subscribers in Houston and Dallas
Output maximisation and cost minimisation
Describe how the market for Alaskan king crab will be affected if, at the same time that medical reports confirm that suspected health benefits from consumption of Alaskan king crab meat, wages are increased for trawler men
The Business Cycle is the short-term fluctuations in the economy relative to the long-term trend in output; the recurring and fluctuating levels of the GDP growth rate over time.
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