Question

In: Economics

Pick two goods you think floors should be placed on and two goods that you think...

Pick two goods you think floors should be placed on and two goods that you think ceilings should be placed on. Identify those 4 goods and why you chose them. What problems might occur in the marketplace based on your choices? What benefits might there be? Do NOT chose goods listed in the textbook.

Solutions

Expert Solution


Related Solutions

Do you think that the intervention by the government in implementing price ceilings or price floors...
Do you think that the intervention by the government in implementing price ceilings or price floors is justified in today's time; why or why not? Are the consumers getting what they want; why do you believe this to be so? Are the suppliers able to sell what they produce; why do you think so? Use an example from another country besides United States to justify your reasoning.
Do you think that the intervention by the government in implementing price ceilings or price floors...
Do you think that the intervention by the government in implementing price ceilings or price floors is justified in today's time; why or why not? Are the consumers getting what they want; why do you believe this to be so? Are the suppliers able to sell what they produce; why do you think so? Use an example from another country besides United States to justify your reasoning.
Pick any two variables that you feel may be related and estimate what you think the...
Pick any two variables that you feel may be related and estimate what you think the strength of the correlation coefficient would be for those two variables. In your response, estimate the value of r. For example, specify a strong (.7 to .9), medium (.4 to .6), or low (0 to .3) value for r. The value of the coefficient can be positive or negative. For example, consider an increase in police patrols in a neighborhood and the number of...
Think about businesses that you interact with on a daily basis. Pick two specifically and decide...
Think about businesses that you interact with on a daily basis. Pick two specifically and decide whether these businesses operate in a market that is perfectly competitive, monopolistic, monopolistically competitive, or oligopolistic. Explain why you classified the business in this way. Which category do you think most businesses we interact with on a daily basis fall under?
Analyze two goods/services that you think are elastic and inelastic in your daily life that you...
Analyze two goods/services that you think are elastic and inelastic in your daily life that you have recently purchased or not when the price changes(relate your answer to the characteristics of elasticity). If you were a manager of a store, what would you rather sell, inelastic or elastic goods/services. Please explain your answer.
In this discussion, give an example of two goods: one that you think would likely have...
In this discussion, give an example of two goods: one that you think would likely have an inelastic price elasticity and one that would have an elastic price elasticity. Then, justify your answers by explaining how each of the determinants of elasticity applies to that good. As a reminder, those determinants are: Availability of close substitute Time horizon How broadly the good is defined (ex: market for food vs. the market for hot chicken) Viewed as necessity vs. luxury Share...
For this question, think of the world as having two goods—movies and “all other goods,” i.e....
For this question, think of the world as having two goods—movies and “all other goods,” i.e. a composite good. Your good friend Jane really likes to go to the movies and she goes quite often. You think movies are alright, but you aren’t as enamored/obsessed with them as Jane is and hence you go far less than she does. Show explain that despite these differences, at the margin, you and Jane value an addition movie at the same rate relative...
Pick a firm from which you purchase goods or services or by which you are employed....
Pick a firm from which you purchase goods or services or by which you are employed. Identify the firm’s relevant market structure. Strongly support your answer with theory from class. Be as detailed as possible and expand upon each concept. For example, if the firm is monopolistically competitive, how exactly do they differentiate their product? Or if its in an oligopoly, how does the firm react to its competitors’ actions? These are two limited examples. While you may not address...
When should a country export goods and when should a country import goods When do you...
When should a country export goods and when should a country import goods When do you think tariffs and or quotas should be put in place? Do you think President Trumps strict trade policies will benefit the country and why
Which two ratios do you think should be of greatest interest in each of the following...
Which two ratios do you think should be of greatest interest in each of the following cases? a. A pension fund considering the purchase of 20-year bonds. b. A bank contemplating a short-term loan to a customer. c. A common stockholder.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT