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Questions related to the articles from the economist

Assignment Help Macroeconomics
Reference no: EM131138261

Topic: Price Controls and Consumer Surplus

consider the following questions related to the articles from The Economist:

1.) Are price controls good or bad? (See Venezuela's experience with food and China's taxi problem.)

2.) What do price controls have to do with basketball? (Hint: Lebron can't be stopped by a mere price ceiling!)

3.) What is the consumer surplus of the internet?

consider further questions such as:-

• what the heck is consumer surplus?
• Can consumer surplus ever be negative?
• Is consumer surplus cooler, less cool, or just as cool as producer surplus?
• What about Lebron's producer surplus?
• Is it being unfairly limited?

Reference no: EM131138261

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