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In a one page paper, answer the following questions:
1. Identify one example of a price control that is used in the United States or in another country. (1 paragraph)
2. If the price control were not in place, what would happen to the price of the impacted product? Why? (1 paragraph)
3. Does the price control benefit or harm producers and/or consumers? Why? (1 paragraph)
You just opened a flower shop and are trying to understand pricing issues. You were told that elasticities are very important in determining prices and what products to supply, so you decide to investigate this concept.
Should the antitrust authorities stop more corporate mergers than they currently do? What are some of the pros and cons?
According to a study of US cigarette sales between 1955 and 1985, when the price of cigarettes was 1% higher, consumption would be 0.4% lower in the short run and 0.75% lower in the long run (Becker et al., 1994).
In order for a price-discrimination scheme to be effective at boosting profit, the seller must...(choose correct answer(s))
What is the effective rate of protection for the automobile industry in country A, if there is a tariff of 25 percent on imported automobiles and a tariff of 50 percent on imported inputs used in this industry.
Economists say that excess capacity in monopolistically competitive markets is "the cost to society of variety." What is the cost that economists are talking about and why is this cost the result of having a variety of goods and services?
According to data provided by British Rail to the Mergers and Monopolies Commission, the 1988 costs of a Sprinter (Class 150/2) train were: Capital Cost 525,000, Annual costs (per unit): Depreciation 26,300, Overhaul and maintenance 32,600, Stabling ..
A project is being considered that will cost $17,000. Expected returns are $3000 at the end of years 1 and 2, and $X at the end of years 3 and 4, $3000 at the ends of years 5 and 6, $X at the end of years 7 and 8, with this pattern repeating itself f..
Summarize the corporate ethics statement, statement about social responsibility, and sustainability statement. If none exist, report what you believe are these unwritten statements or code of conduct based on what the Proctor & Gamble says about itse..
Consider a firm with the following total variable costs (TVC). If the firm has already purchased the equipment, answer the following: (i) if the firm chooses to operate, what is its best possible output?
Explain the viewpoints of classical and Keynesian economists. How did the economy that existed at the time of these theories influence them?
According to the rational choice model, cash grants are preferred to food stamps because A. They enhance consumer choice B. Cash grants allow consumers to reach lower indifference curves C. Food is the most essential commodity D. Food would be cheape..
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