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What are forms of price floors to lead inefficiency?
Price floors frequently lead to ineffectiveness in the forms of:
a. Inefficient allocation of sales in between sellers
b. Wasted resources
c. Inefficiently high quality
They also can give an incentive for illegal activity (for example, black labor).
Q. Show the components of GDP? The circular flow - simple version We have defined GDP, gross domestic product, as the market value of all finished service and goods produced
complexity theory elements
The price and quantity of lumber and other building materials has gone up recently. Show graphically and explain what might have caused this.
For which of the following medical goods or services is the income elasticity of demand largest? a. emergency services after a car accident b. measles shots c. physical ex
a) Use the arc-approximation formula to calculate the price-elasticity of demand coefficient of a firm's product demand between the (quantity, price) points of (100, $20) and (300,
The sales counter next to the soft toy display in Shambles receives a customer every 2-4 minutes. Most of these customers (80%) are buying toys and are dealt with by the cashier i
Why do some countries have a low real per capita income? Low real per capita income considers being largely due low productivity (i.e., output per worker) of low valued added
Define the points of individual choices makes and interact. A. How individuals make choices: • Scarcity • Opportunity cost • Trade-offs • Marginal analysis B. Ho
how can we derive IS curve why has it negative slope
The data is posted on Blackboard. Download the data lfs4.dta on your personal computer. This data is from the Labour Force Survey 2003. In STATA, add enough memory to open the data
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