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why is PROPER pricing of natural resources is important?
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- Suppose the market for hamburgers is unregulated. That is, hamburger prices are free to adjust based on the forces of supply and demand. If a shortage exists in the hamburger market, then the current price must be ________ than the equilibrium price. For the market to reach equilibrium, you would expect ___________ .Singer Britney Spears has a monopoly over a scarce resource: herself. She is the only person who can produce a Britney Spears concert. Does this fact imply that the Government should regulate the prices of her concerts? Why? Or why not?Why won't perfectly competitve charge a price lower than the equilibrium price?
- Consider Everglades National Park and assume that entry is free to all visitors. Let the value of a recreational trip (V) to a visitor (N) be V = 50 - 5N and the marginal value of a trip be MV = 50 - 10N. Moreover, let the cost of each trip be $10. If access to the park is unregulated, what will be the market equilibrium number of trips? Please round your answer to two decimal places if necessary. PLEASE ANSWER CORRECT. WILL RATE.Determine the implications of market pricing on the following when making e economic decisions. A. Buyer/consumer B. Seller/producer/supplierWhat causes pricing to reach equilibrium? Give an instance.
- What is the cost of operations in the factors of production determines the price such organizations quote on the market?Is the market for computer chips concentrated (i.e, dominated by relatively few producers)? How can this problem be solved?What happens to the market price when a producer in a competitive marketincreases its output?