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Question1. Using the principles of economic reasoning, discuss the probable consequences of the rent controls.Question2. Determine what do the laws of supply and demand forecast would be the result of an immediate removal of rent control in terms of the price of rental housing and the quantity available?Question3. If you consider a product like gasoline, would you favor price control so that you pay less than the current price at the pump, $1.00 less for example? Why or why not?Question4. If economists are right about the generally negative effects of price controls, why do you think they remain in place in some cases? Do you think they allocate scarce resources efficiently? What would be some alternative policy measure for fair housing?
Discuss if you agree or disagree with this statement and explain your position: Market equilibrium (price and quantity of equilibrium) is just a theoretical result.
Find out the socially efficient price, units of output and profits? How much output would a monopoly produce? Find out the price and profits of the monopolist?
Select 5-innovations associated with Industrial Revolution and five innovations from Technological Revolution. For each innovation, recognize the effects it had on individuals, societies, businesses, and politics.
Assume a bank has $200,000 in deposits, a needed reserve ratio of 10%, and bank reserves of $50,000. Then the bank can make new loans in the amount of?
Evaluate arc price elasticity of demand between prices of $4 and $6 and compute the point price elasticity at the price of $6 state the significance of the coefficients.
Assume monopolizing a service or product of your choice. Discuss how you would go about setting prices for your product or service.
Problem based on Oligopoly and demand curve, Draw and explain the demand curve facing each firm, and given this demand curve, does this mean that firms in the jeans industry do or do not compete against one another?
The production engineers at Impact Industries have derived the optimal combinations of labor and capital (the only two inputs used by Impact) for three levels of output: 120, 180, and 240 units of output:
Assume that a union's target is to maximize total wage income received by union workers, namely, the average union wage times the number of union workers employed.
Show the effects of a price ceiling and a price floor on a market. As for what happens with valuing is different than equilibrium, a rate Floor is Minimum wage where wage rate is bigger than the rate at equilibrium.
Give at least two examples of a perfectly competitive market and explain what characteristics led you to that decision. Second, give at least two examples of a monopoly market and explain what characteristics led you to that decision.
Think a country that initially consumes one hundred pairs of shoes per hour, all of which are imported. The value of shoes is $40 per pair before a ban on importing them is imposed.
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