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Florida, like several other states, has passed a law that prohibits "price gouging" immediately before, during, or after the declartion of a state of emergency. Price gouging is defined as "...selling necessary commodities such as food, gas, ice, oil, and lumber at a price that grossly exceeds the average selling price for the 30 days prior to the emergency." Many consumers attempt to stock up on emergency supplies, such as bottled water, immediately before and after a hurricane or other natural disaster hits an area. Also, many supply shipments to retailers are interrupted during a natural disaster. Assuming that the law is strictly enforced, what are the economic effects of the price gouging statue? Explain.
What happens to the profits of boat makers in the short run. What happens to the number of boat makers in the long run.
Under oligopoly, if one firm in an industry significantly increases advertising expenditures in order to capture a greater market share, it is most likely that other firms in that industry.
Elucidate how does the Demand curve faced by a monopolist differ from the Demand curve faced by a perfectly competitive firm.
Over the course of this month he has to deliver to 50 spots. To do this job he has 4 possible combinations of output that he can use
Some economists have suggested that the best way to control medical costs is to remove the profit incentive for health care providers, particularly hospitals.
decides not to play by the rules of the game. Then illustrate what could the final equilibrium position be.
The manager of a corporate division faces the posibility of an audit every year. She prefers to spend time preparing if she will be audited; otherwise, she would prefer to invest her time elsewhere.
Elucidate how much income did this represent for each of the 300 million U.S. citizens. Illustrate what was the largest GDP decline in a postwar U.S. recession.
Joy's frozen yogurt shops have enjoyed rapid growth in northeastern states in recent years. From the analysis of joy's various outlets, it was found to the Demand curve.
With Australia going through a long-lasting drought in the first decade of the 21st century, serious concerns were raised about the possibility of running out of water.
She is now considering raising her prices by 20 percent to offset the increase in her monthly rent.
Explain how the average rate of per capita income in south africa between 1960-1991 compered to 1991-2010.
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