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Prices exist because of scarcity, not everyone can have everything they want right now. During natural disasters or pandemics, supplies of things can get very scarce. Shelves are emptied by consumers but over 30 states have a law that prevents prices from increasing during natural disasters, it is sometimes called anti-price gouging. Should prices be allowed to increase during a disaster? Is there a moral aspect to this?
The price of wholesale milk dropped by 30.3%, when the Pennsylvania Milk Marketing Board lowered the regulated price. The price to consumers fell by less than 30% in Philadelphia. Why? A maker of specialty soaps supplies a unique soap made from cactu..
The once mighty General Motors, unable to survive by meeting the needs of customers turned to the taxpayers for a bailout in the U.S. In Europe its Opel subsidiary required similar life support from the German government. What are the costs and benef..
Pfeitzer is a monopolist for a new drug that makes people feel thinner. The total cost function is C(Q) = 100 + 12Q + 2Q 2 . The inverse demand function
Discussion and provide an example of how each is calculated: marginal cost marginal revenue profit maximization goal marginal profit
Technology is now being developed so that road use can be priced by computer. A computer in the surface of the road picks up a signal from your car and automatically charges you for the use of the road. How would this affect bottlenecks and rush-hour..
Crowding out is an important topic.
A decentralized organizational structure is more likely to further the cause of good strategy execution than is a centralized organization structure. Variable costs will initially increase and then decrease. The law of diminishing marginal product ho..
The U.S. economy slowed significantly in early 2008, and policy makers were extremely concerned about growth. To boost the economy, Congress passed several relief packages that combined would deliver about $700 billion in government spending. Calcula..
Briefly explain whether you agree with the following argument: "Unfortunately, Bolivia does not have a comparative advantage with respect to the United States in the production of any good or service."
How is it possible for many price elasticities to be associated with a single demand curve? Rank the following in order of increasing (from negative to positive) cross-price elasticity of demand with coffee. Explain your reasoning please: Bleach Tea ..
Discuss the importance of laws and the requirements to amend them regularly. Cite examples from the perspective of Oman and explain with evidence the importance, advantages and disadvantages of the commercial agreements between Sultanate of Oman and..
What is the opportunity cost of going to college this term, assuming that your room and board expenses would be the same even if you did not go to college?
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