Government imposes a limit on sales of a good or service

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Q1. Decide whether each of the following is a substitute or a complement to a Toyota car a public transport substitute.

Q2. If the government imposes a limit on sales of a good or service by issuing a license that gives the owner the right to sell a given quantity of the good, the difference between the demand and supply price is

Q3. A grocery store manager must decide whether to buy four rug cleaners to rent to customers. The manager estimates that the first would yield $200 a year, the second $150, the third $75 and the fourth $20. If the interest rate is 12 percent and each rug cleaner costs $500, explain how many should the manager buy?

Reference no: EM1317890

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