Why is it important that prices are flexible in our economy

Assignment Help Microeconomics
Reference no: EM133516206

Question: Why is it important that prices are flexible in our economy? Do you think the government should control the level of prices for products that are really important, ie. gasoline?

 

 

Reference no: EM133516206

Questions Cloud

What operating systems should be used on the servers : What network architecture will be used: client/server or peer-to-peer? Why? What operating system(s) should be used on the servers? Why?
What is the largest sales in millions : The Albert Nock Company had $130 million of sales last year, and ${A} million of fixed assets which were being operated at 1.00% of capacity.
Do you believe that exchange rates will go up : Stage - Market View Report - Conduct independent research in order to form a view regarding current and future market conditions and report your findings
Examining various business advantages : Type one paragraph examining various business advantages and provide an example of one business that does it better than another.
Why is it important that prices are flexible in our economy : Do you think the government should control the level of prices for products that are really important, ie. gasoline?
Discuss steps that can be taken to mitigate the problem : Describe the problem and the potential impact it might have on the organization. Discuss steps that can be taken to mitigate the problem.
Article on covid related to law of diminishing returns : How is a news article on Covid related to Law of diminishing returns? Explain the components of your example and how they are related.
What does the division of household labor : What does the division of household labor look like in a modern middle class family now?
What ethical implication of organization spreading fake news : What is the ethical implication of an organization spreading fake news? What intelligence gathering process look like to determine accuracy of such information?

Reviews

Write a Review

Microeconomics Questions & Answers

  Specializes in recycling used plastics into consumer goods

Alternatively, you can produce lampshades: you calculate that at the optimal production, you expect to sell 2,000 lampshades every year at $10 each

  Extra tractor lead to an increase in revenue for a farmerin

1. As an extra tractor lead to an increase in revenue for a farmerin successive years of £500, £4000, £3,000, £3,000 and £1,000, after which the tractor is sold for £1,000. Assuming that the first revenue is treated as current and the interest rate i..

  Which approach has a lower present value of costs

Horizon Ford advertises that it will sell you a Ford Taurus for $24,000 or lease it to you. To lease it, you must make a down payment of $3000.

  Why might banning advertising drive up prices

Why might banning advertising drive up prices? Why have economic analyses of clinical and administrative innovations become more important? What does it mean to have market power? Are firms with market power extremely profitable?

  Evaluate the dynamics of the group

Evaluate the dynamics of the group - Assess how information was shared and processed.

  Key element of classic experimental design

Bob hits Sally with a shovel. In this situation, which of the following is the mens rea - key element of classic experimental design?

  Calculate the benefit-cost ratio for a highway project

Use PWs to calculate the benefit/cost ratio at i = 5% for a highway project. The first cost is $150K, and O&M costs are $5K per year.

  What is the market rate of substitution between goods

Show how the consumer’s opportunity set changes if income increases by $300. How does the $300 increase in income alter the market rate of substitution between goods X and Y?

  How many employees by type does the clinic currently need

How many employees by type does the clinic currently need - How many employees by type will the clinic need if it signs the contract for pre-employment physicals - What are the financial implications associated with your recommendations?

  Advantages associated with having a sole proprietorship

What are the advantages and disadvantages associated with having a sole proprietorship - general estimates of costs and sales, but not the basis for them.

  Does your state have an individual income tax

Does your state have an individual income tax? If so, how closely does it conf federal tax? Can one deduct the federal tax in computing the state income tax?

  Discuss the effects of this maneuver with regards

Discuss the effects of this maneuver with regards to inflation, unemployment, GDP, and the housing market in the short term.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd