Reference no: EM132922468

On the basis of that study Congress separated the governmental functions of the Canal from its transit and business functions, the latter to be operated by petitioner. See H. R. Doc. No. 460, 81st Cong., 2d Sess.; H. R. Rep. No. 2935, 81st Cong., 2d Sess. It was learned that if the Canal were operated at cost, the tolls would have to be raised to a prohibitive level. Congress therefore undertook to reduce the financial burden that was imposed upon the users of the Canal. The interest on the capital investment of the United States was reduced and interest accrued during the construction period was to be disregarded for the purposes of computing interest on the capital investment. Free transits of government-owned vessels were eliminated for accounting purposes. The supporting business activities previously operated by the Panama Railroad Co. were to bear a proportionate share of the cost of the Canal Zone Government from which they had been exempted. H. R. Doc. No. 460, 81st Cong., 2d Sess. And the "net costs of operation of the Canal Zone Government" were declared by Congress "to form an integral part of the costs of o

1. Outline five determinants of the elasticity of supply
2. Describe six factors that might cause a shift of the supply curve in an economy
3. Summarize five exceptions to the law of demand
4. Distinguish between 'own price elasticity of demand ' and 'cross price elasticity of demand'
5. Outline four factors that would lead to a rightward shift in the demand curve
6. Outline four factors that determine the price elasticity of demand of a commodity
7. Distinguish between a 'price ceiling ' and a 'price flour'3140
8. Define the term 'consumer surplus'
9. Highlight three exceptions to the law of diminishing marginal utility
10. Outline four limitations of the cardinal approach to the theory of consumer behavior
11. Outline four assumptions underlying consumer equilibrium