Efficient response to the market

Assignment Help Business Economics
Reference no: EM131968114

The average consumer thinks that price gouging is unfair. Some even think it should be illegal. But most economists think it is an efficient response to the market. What do you think? Should price gouging be illegal? Is it fair?

Reference no: EM131968114

Questions Cloud

What it is the bagehot rule : What it is the Bagehot's Rule? Did the Central Bank of Us applied this rule in 1930's? Could the Great Depression of 1930's be avoided or less severe?
Create a marketing plan for a health care organization : Create a marketing plan for a health care organization - Marketing the HealthSuite Digital Platform - how you might market the health care organization
Property rights the foundation of capitalism : Are clearly defined property rights the foundation of Capitalism? Would you prefer to live a Socialist society?
The present value of the payments and payouts : The present value of the payments and payouts are equal if the annual effective rate is 8%.
Efficient response to the market : But most economists think it is an efficient response to the market. What do you think? Should price gouging be illegal? Is it fair?
Identify key performance objectives : Prepare a training summary to be presented to the executive leadership of the Real Estate Group in a closed door meeting. Identify key performance objectives.
Price elasticities of demand for products : Estimating your price elasticities of demand for products you routinely purchase. Describe your price elasticities for such products and discuss the movement
Use the payback decision rule to evaluate this project : Suppose your firm is considering investing in a project with the cash flows shown below, Use the payback decision rule to evaluate this project.
Discuss the meaning or implication of the results : Discuss the meaning or implication of the results of the study that the article covers. This should be one to two paragraphs.

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

The Australian government administers two programs that affect the market for cigarettes

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

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