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In 1979 New Jersey had a usury law that limited the interest rate on conventionally financed mortgages for properties located in New Jersey to a maximum of 9.5 percent. (Inflation rates were high at the time.) The usury ceiling was more restrictive than the one in the state of New York across the Hudson River from New Jersey.
a. Recognizing that people who work in New York City can choose to live in the suburbs located in either New Jersey or New York, what effect does the more restrictive usury ceiling in New York suburbs?
b. Which borrowers in particular might be affected by the New Jersey law, and how?
B is offering to buy an object from S. S values the good at $4 ( type H), or $3 (type M), or $2 (type L). But S's exact valuation is unknown to B, who simply attaches equal probabilities, a fact commonly known to both players. B values the good at $5..
Explain how the introduction of distance learning technology can be expected to affect the elasticity of demand for college professors.
the government implements a 25% tax on labor income as a way to raise revenue. Calculate the excess burden resulting from this tax, and illustrate your answer with a graph
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If the cross-price elasticity of aluminum with respect to steel is 2.0: What would happen to the quantity demanded of aluminum if the price of steel increases?
Since no one party owns a not-for-profit hospital, physicians really own the hospital’s business. Consumer cooperatives have a long and successful history in development of the HMO. For-profit firms make up the bulk of hospital organizations.
Consider two firms with constant marginal and average costs, and equal to 10. Market demand is Q = 500 – 20P. Firms choose quantities simultaneously as in the Cournot model. The solution for the Nash Equilibrium gives a total output equal to what amo..
At what price is the price elasticity of demand equal to zero? When the price elasticity of demand is equal to 1, what will be the quantity demanded at this point?
Compute the target bed capacity of Cheswick Community Hospital 10 years from now based on the following information:
Examine advantages and/or disadvantages of distributing market pesticide permits to each farm operating in eater shed equal to 40% of current levels of use of that pesticide, versus simply ordering each farm to reduce pesticide issues to 40% of cu..
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