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The rent control agency of New York City has found that aggregate demand is
QD = 160 - 8P. Quantity is measured in tens of thousands of apartments. Price, the average monthly rental rate, is measured in hundreds of dollars. The agency also noted that the increase in Q at lower P results from more three-person families coming into the city from Long Island and demanding apartments. The city's board of realtors acknowledges that this is a good demand estimate and has shown that supply is QS = 70 + 7P.
a. If both the agency and the board are right about demand and supply, what is the free market price? What is the change in city population if the agency sets a maximum average monthly rental of $300, and all those who cannot find an apartment leave the city?
What is average fixed cost when 150 units of output are produced?
You are working for an unemployment agency which distributes unemployment checks to unemployed workers in your state.
raising chickens requires several types of feed such as corn and soy meal. consider a farm in the former soviet union.
Explain why do you think we have laws that prohibit discrimination in pay based on sex or race but permit employers to discriminate in pay based on education or experience.
The intersection between labor supply and labor demand determines the equilibrium wage and the equilibrium level of employment. Why might some firms pay workers a wage above the market equilibrium, even when there is surplus labor?
Make the categories and terms of the three basic demands for money and what the number of categories of the money supply are.
How much corn will the industry be willing to supply at a price of $200? What about at a price of $250? What about $300? $350? $400? ii) Use your answers to graph the long-run supply curve for the industry, that is, the quantity of output the indus..
What are some examples of irreversible investments? I know they're investments that have high value only under specific conditions and can't be easily moved, adjusted, or reversed if conditions change, but I don't know what are real-life examples.
The HIPAA privacy rule states, "An individual has the right to inspect and obtain a copy of the individual's protected health information (PHI) in a designated record set."
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Analyze the contribution that automatic stabilizers play in making a stable economy. Provide some examples of the automatic stabilizers and use them to illustrate their significance.
Duty of care determines an expectation that harmful or potentially harmful impacts of organisational operations and activities will be managed in order to avoid dangerous hazards and risks.
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