Why do most economists oppose price ceilings and price floor? What are their negative consequences?

Q: Question 7 Suppose there are two types of individuals: Low demand individuals with demand Qp(P) = 16…

A: Answer; Here, to distinguish a consumer, firm should charge a fees by which it can able to take…

Q: AS AD, AD Y, Y=Y¡ Recessionary gap Refer to the diagram shown below. Suppose AS curve is horizontal…

A: Aggregate demand is a sum of consumption spending, investment spending, government purchases and net…

Q: In the North American (New World) model of urban growth, which of the following notions best…

A: Since you have posted multiple questions, we will answer the first question for you. If you want any…

Q: 7. Suppose that the unemployment rate in a country decreases from 5% to 4%. Has the employment and…

A: In economic terms, employment refers to the condition of having or being employed.If someone must be…

Q: We can make a confidence interval more precise (narrower) by, a increasing the sample size.       b…

A: The probability that a population parameter will fall between a set of values for a particular…

Q: Draw the diagram for a monopolistically competitive firm in long-run equilibrium

A: There are many firms in the monopolistically competitive market. All firms produce the close…

Q: If imports exceed exports, as in recent years, then __________ exists.   a trade surplus a trade…

A: Trade balance depends on the difference between exports and imports.

Q: Assign the different theories to the source of gains from trade in the theory (e.g. specific factors…

A: Melitz (2003) model talks about trade liberalization whereby the there is reallocation of resources…

Q: To improve effectiveness and efficiency, information system specialists in different companies…

A: An information Systems Specialist is liable for supporting and developing the information system of…

Q: If the marginal prospensity to consume is 0.75, an increase in autonomous investment of 800.00 will…

A: Marginal propensity to consume is the proportion of change in income spent on consumption.

Q: Motor A and B is providing 150hp and it is being used for 10 hours per day, 250 days in a year if…

A: Let x be the number of pieces of model A and y be the number of pieces of model B. Let total profit…

Q: Question 28 Table 5 Employed 153,846 Unemployment 4.1% rate Labor force Unemployed Y Consider the…

A: Labor force is the sum of unemployment and employed individuals.

Q: Consider the following simultaneous move game between two firms. The game is repeated and in each…

A:

Q: Explain what is/are the advantage might Generation Y have in terms of education and income advantage

A: Generation Y have a set of abilities and characteristics that distinguish them as desirable…

Q: The following are market demand and supply equations for a perfume product: QD = 70 – 4P Qs = 10 +…

A: Disclaimer :- as you posted multipart questions we are supposed to solve the first 3 questions only…

Q: A) Using demand and supply diagram, describe and discuss positive externality in production of a…

A: Positive externality of production refers to a case where the third party enjoys the spillover…

Q: What determines growth in post-Kaleckian (post-Kaleckian) models? What are the effects of…

A: On the other hand, post-Keynesian financial affairs are a collection of financial expectations…

Q: Suppose a single firm produces all of the output in a contestable market. Analysts determine that…

A: When a company maximizes its profit, it is said to be in equilibrium. It reaches this point when it…

Q: Requirements 1. Describe the production costs in the equation formY = f+ xX. 2. Assume Alta intends…

A: Given information Cost function Y=f+Vx Given data analyze cost for 350 units.

Q: 9.3. Suppose there are 100 identical firms in the perfectly competitive notecard industry. Each firm…

A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: A student needs P4000 per year for 4 years to attend college. Her father invested P5000 in a 7%…

A: Both the answers are given below

Q: Table 1. Unit Labor Requirements                             Vietnam Indonesia Coffee 70 40…

A: A country or an individual is set to have an absolute advantage if it can produce more of a good…

Q: discuss two methods that the government may use to intervene in the market to eliminate the market…

A: The market that does not tend to succeed in incorporating all information that is available into a…

Q: List and describe the 3 types of unemployment. Give an example of each

A: Unemployment means that an active job searching person is unable to find a job.

Q: Suppose a government has no debt and a balanced budget. Suddenly it decides to spend $5 trillion…

A: Since the question you have posted consists of multiple parts, we will answer the first three parts…

Q: The following are market demand and supply equations for a perfume product: QD = 70 − 4P QS = 10 +…

A: Equilibrium is established where the demand and supply forces are equal.

Q: What is the current unemployment rate and the labor force participation rate

A: Introduction : Unemployment is a term referring to individuals who are employable and actively…

Q: MC MC ATC ATC Quantity MR (A) Quantity MR (B) MC MC ATC ATC D= MR Quantity (C) Quantity (D) MR 25.…

A: A firm will maximise profit at a point where marginal revenue is equal to marginal cost and price is…

Q: Automatic stabilizers decrease the impact of a recession on the level of economic activity because…

A: Monetary Policy refers to the act of the central bank to regulate the money supply in the economy to…

Q: 24. If Ron chooses to flip a magic coin, so that he will choose "Go to Bed" with p = 0.25 and…

A: Go to Bed Adventure Go to Bed 40,40 10,20 Adventure 20,10 60,60

Q: Households' consumption function is: C=100+0.7Y Households are more pessimistic about the future and…

A: "In the consumption function C=100+0.7Y, 100 represents the consumption function intercept and 0.7…

Q: What items are part of mandatory spending in the federal government?

A: The government spends its budget on development and non development programs for the welfare of the…

Q: n investor buys a land for PhP 1M and constructs a three-door apartment for udents worth PhP 5M. He…

A: NPV is a strategy used to decide the ongoing worth of all future cash flows created by an…

Q: Evaluate the following statements using relevant diagrams and provide detailed explanations. The…

A: (Since you have posted a question with many sub-parts, we will solve the first three sub-parts of…

Q: In the field of economics, utility is a measure of how much benefit consumers derive from certain…

A: In economics, utility explains the satisfaction obtained by a consumer, while in finance, utility is…

Q: The following events shift either aggregate demand, aggregate supply, both or neither. Using a…

A: Aggregate demand   = C + I + G + (X-M), C= consumption, I= Investment, G= Government spending, (X-M)…

Q: 1 Sonic Enter Stay Out Dairy Queen (1000, 8000) High Prices, Low Prices (3000, 5000) (-1000, 4000)…

A: When dairy queen enters the business, there is no rival for it.

Q: Which of the following is always true for the profit-maximizing firm in a perfectly competitive…

A: "Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: A large profitable corporation is considering a capital investment of $50,000. The equipment has a…

A: Given that; Initial investment is $50000. Yearly revenue is $44000. Yearly expenses are $14000. Rate…

Q: Assume that the economy is facing a GDP gap. 1. Write a report explaining why that might have…

A: There are two types of GDP gaps i.e. rrecessionary output gap and the inflationary output gap. In…

Q: Average Fixed Average Average Total Total Product Cost Variable Cost Cost Marginal Cost $ 25.00 1 $…

A: There are many firms in purely competitive market. All the firms produce identical goods so buyers…

Q: All of the following factors are directly or indirectly associated with declines in bricks and…

A: Brick and Mortar business:- A regular street corporation that delivers commodities to consumers…

Q: Show that expectation damages are efficient with respect to breach, but not efficient with respect…

A: Damages recovered by the non-breaching party as a result of a contract breach are known as…

Q: The manager of a firm in a monopolistically competitive industry is giving some thought to two…

A: Given information Own price elasticity=-2.5 Advertisement elasticity=0.7 Marginal cost =$30 Annual…

Q: A manufacturer of microwaves has discovered that male shoppers have little value for microwaves and…

A: Total Revenue refers to the sum total of all the money that a firm or seller receives in exchange…

Q: The Eastern Caribbean Securities Exchange is a: O a. Central Bank O b. Financial Market O c.…

A: A security exchange is an exchange where the various the stock issuers and buyers can buy and sell…

Q: Question 3 (Equilibrium) 200 Suppose the market demand is Qp = firms in the market. Suppose N = 25.…

A: The equilibrium price is the only price where the plans of consumers and the plans of producers…

Q: Explain the methods of GDP counting (measuring)! Explain potential GDP!

A: GDP stands for Gross Domestic Product.

Q: EP Qp and Qs are quantity demanded and supplied of perfume, res t is the equilibrium price and…

A: Whenever the worth of elasticity is more prominent than 1.0, it proposes that the demand for a long…

Q: n a closed economy, suppose fiscal policy adds $500 bln in new government spending to GDP. Will the…

A: In a closed economy, if a fiscal policy adds $500 billion in new government spending to GDP, the…