Market forces do not determine stamp prices-postal service

Assignment Help Business Economics

Reference no: EM13739855

Briefly explain why the following statements are either TRUE or FALSE:

a. Because the U.S. postal service is a monopoly and Congress sets postal prices through legislation, market forces do not determine stamp prices.

b. New York City government auctions taxi medallions that give the right to transport passengers by taxi. Because the government controls the number of medallions, market forces do not determine their price.

Reference no: EM13739855

Questions Cloud

Discuss recent economic conditions in the industry : First, you need to pick a public company to analyze. You should have already informed me of the company you have picked. Discuss recent economic conditions in the industry, as well as prospects for the future

What were the key causes of the great depression : What were the key causes of the Great Depression? What were the responses of the Hoover administration to the crisis?

Receptivity to social media messaging is changing : Select from the module’s key topics the top three social media mistakes or realities that got Comcast into this trouble. Be sure to justify your choices.

Analysis of a selected neuropsychological disorder : An analysis of a selected neuropsychological disorder - neuropsychological disorder for comprehensive analysis from the following list, based on the Diagnostic and Statistical Manual.

Market forces do not determine stamp prices-postal service : Because the U.S. postal service is a monopoly and Congress sets postal prices through legislation, market forces do not determine stamp prices. New York City government auctions taxi medallions that give the right to transport passengers by taxi. Bec..

Monetary tightening damps brazil investment : Classify the following Wall Street Journal articles as involving macroeconomic or microeconomic issues based on their titles:

What is a private benefit corporation : What is a Private Benefit Corporation? What is the author's concern about Private Benefit Corporations? What is meant when New York City is referred to as a majority-minority city?

Analyse the trade-off between efficiency and equity : Outline the First and Second Welfare Theorems and their implications for the role of government. How can we use them to analyse the trade-off (if one exists) between efficiency and equity?

General equilibrium analysis an important tool to understand : Why is general equilibrium analysis an important tool to understand, in particular, in the context of policy analysis? Use an example that illustrates the importance of general equilibrium analysis, over and above partial equilibrium analysis, as par..

User Account

All Pages