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1.Differentiate between a price ceiling and a price floor (your answer should include the intentions and actions of buyers and sellers under both scenarios).
2.What action does government sometimes take to prevent a fall in prices when a price floor is instituted?
3.Explain what is meant by the phrase "price functions as a rationer".
Airline travels (good X) and driving interstates (good Y) are known to be substitute goods. suppose that a leading airline offers a steep discount on all routes. In the context of the market quantity supplied and quantity demanded diagram.
Elucidate the academic curriculum and dicuss the challeges confronted by scholars of the following areas of specialisation.
Assume there are two types of consumers: type A consumers have a demand Q = 10 ? P for widgets, and consumers of type B have a demand Q = 5 ? P. Assume that there are 10 consumers of each type. (a) Calculate the market demand.
Describe the major barriers to entry into a industry. Explain ow each barrier can foster monopoly or oligopoly.
Suppose the issues of where, when, and elucidate how to be considered by an organisation planning an international entry strategy.
Totally he received an offer for $66000. What is your opinion of the owner's decisions
In 2003 the state of Arizona discuss that there was a shortage in correctional officers. Determine how correctional officers' wages are calculated.
Elucidate measures the fed should take to reduce the unemployment rate and expand the economy.
India's policies against exchange rates, foreign trade, domestic monetary systems and foreign policy. Also expand into how the political situation in India has effected the country economically.
America is considered a rich nation because Americans can choose from an abundance of goods and services. How can there be scarcity in a land of abundance.
Over the past recent months it has been selling its widgets for $100 each and unit sales have averaged 5,000 units per month.
If graphed, would the curve for this equation slope upward or slope downward and are the variables C and Y inversely related or directly related?
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