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Suppose the demand for apartment rentals in Los Angeles is Q = 1000 - P and the supply of apartment rentals is Q = 4P
Part 1 - What is the equilibrium price and quantity of apartment rentals in LA?
Part 2 - Suppose the government imposes a price ceiling of $150. What is the impact on the equilibrium outcome?
Part 3 - Does this price ceiling necessarily increase consumer surplus? Explain.
Pete borrows $10,000 to purchase a used car, He must repay the loan in 48 equal end –of-period monthly payments. Interest is calculated at 1.25% per month.
Discuss the long range effects of a stimulus plan as it affects the banking sector.
You and other college students are deciding whether to major in music or engineering. You learn that there is a shortage of engineers making it easy for engineering graduates to find employment while there is a glut of musicians for whom finding a jo..
If American cheese also cheddar cheese are substitute afterward which of the following would increase the demand for cheddar cheese.
q1. studies have fixed the short-run price elasticity for gasoline at the pump at -.20. suppose that international
Suppose that the government raises the minimum wage to $10.10. Thinking of the four Marshall's Rules of Derived Demand as they apply to a particular industry, analyze the conditions under which job loss among teenage workers in that industry would be..
Illustrate what is shop's sales mix Illustrate what is shop's break-even sales volume in dollars. Explain how many bicycles of each type must firm sell to earn a target net income of $50,000.
Draw a graph of the market for chewing gum. What are the equilibrium price and quantity? Mark the equilibrium price and quantity in the graph.
Assume an economy with an aggregate production function of the form Y = 1.5K. If the nation’s population grows at 5%, the rate of depreciation is 3%, and the savings rate is 8%, what is the steady-state output per capita level?
A competitive firm has the production function q = f(L,K) = sqrtL + 2sqrtK , for which MPL= 1/2sqrtL and MPK = 1/sqrtK. Find the firm's conditional factor demands for L and K at the factor prices w = 4 and r = 2. What is the firm's (total) cost curve..
Elucidate the concept of the opportunity cost. your answer could consider opportunity cost in the context of the production possiblity curve.
Identify what FIDO stands for and how 3M puts FIDO into practice. Assess whether FIDO’s approach could work for other companies or if it is unique to 3M and the products they produce. Write three pages on whether 3M’s specific practice of hiring loca..
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