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Price controls on rents are frequently implemented by governments to protect renters from high housing prices. Differentiate the type of price control used from other potential price controls, and then formulate reasons as to why governments should be careful when implementing these types of controls.
Consider how to apply the economic terms, supply, demand, elasticity, comparative advantage, consumer surplus, deadweight loss to the consumer market.
Explain why Chrysler's decision might have been prompted by movements in its wage costs or capital cost, or both.
Select an entrepreneur and provide a brief profile. How has this entrepreneur's activities changed in the new knowledge based economy?
Two firms, A and B, are situated next to a lake, and it costs each firm €1,500 per period to use filters that avoid polluting the lake. However, each firm must use the lake's water in production, so it is also costly to have a polluted lake. Does eit..
Why do you believe it is important to be able to freely move from window to window when creating your database?
Suppose the price of airfare from SFO to JFK increases from $330 to $360 while no other variables change. In consequence, the quantity of tickets sold decreases from 180 to 140. Calculate the absolute value of the price elasticity of demand. (Hint: u..
Frosty Cola's chief operating officer is very interested in finding out about the average productivity of the company's workers.
In a competitive industry, the market-determined price is $3. A firm in this market is producing 36,000 units of output, and, at this output level, the firm’s average total cost reaches its minimum value of $3. How much total profit is the firm makin..
If economists wish to determine relative factor abundance across countries, why don’t they simply calculate w/r ratios across countries and then compare these ratios?
Suppose now that the government reduces (t) and increases (t') so that the government budget constraint continues to hold. What will be the effects on an individual con-sumer's consumptionin present
When the price of good X is 100, the quantity demanded is 100. Calculate the relevant elasticities for the following changes: When the price of X changes to 50, the quantity demanded rises to 250. When the price of Y changes from 5 to 10, the quantit..
Your recommended strategy for Airtel in Africa, with particular emphasis on reaching its emerging middle class. Your recommendation must include an explanation.
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