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Question: What is the effect of a price ceiling on the quantity demanded of the product? What is the effect of a price ceiling on the quantity supplied? Why exactly does a price ceiling cause a shortage?
The recurrent ups and downs in the level of economic activity extending over several years are referred to as business cycles. What are the phases of this cycle and describe what occurs in each phase?
Does the asymmetry in the countries' sizes cause them to take different attitudes toward expanding output? Explain why or why not. Comment on whether or not a prisoner's dilemma is present.
a purely competitive wheat farmer can sell any wheat he grows for 25 per bushel. his five acres of land show
our company wants to invest in a new technology driven product. it is a significant investment so management wants a
What are the benefits and drawbacks to advertising products within schools - what other facts would you need to make a decision, and how might your decision affect the stakeholders?
If the firm wants to spend $8,000 on labor and capital, what is the maximum output it can produce? How many units of L and K does it employ?
Consider a bidder just willing to accept a 4.2 percent return (her reservation price). Will she bid 4.2 percent? Or a higher (or lower) interest rate?
How might a flat tax affect efficiency? Fairness?
The cost measure sellers use to determine whether or not to produce the optimal (i.e. profit maximizing) level of output is:
The opening statement on the website of the Organization of Petroleum Exporting Countries (OPEC) says, “…OPEC’s eleven numbers are all developing countries whose economies are heavily reliant on oil export revenues.They therefore seek stable oil pric..
there are some subsidy features to unemployment insurance primarily for jobs that are unattractive or that offer
Given a numeric production schedule, you will calculate profit and make decisions about short-run profitability to answer questions relating to your calculations. Jerry's Lock Shop is a perfectly competitive firm, and Jerry is operating at his lev..
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