A rent ceiling controls the rent portion of the cost of housing but not the search cost. So when the search cost is ________ the rent, some people end up paying a ________ opportunity cost for housing than they would if there were no rent ceiling
A) added to; lower
B) subtracted from; higher
C) subtracted from; lower
D) added to; higher
E) equal to; lower
D
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The table below shows the weekly supply for hamburgers in a market where there are just three sellers.PriceSeller 1 Qs 1Seller 2 Qs 2Seller 3 Qs 3$58544643343222211 If there were 300 sellers in the market, each with a supply schedule identical to seller 1 in the table above, then the weekly quantity of hamburgers supplied in the market at a price of $2 would be
A. 900. B. 1,500. C. 600. D. 200.
Which anti-discrimination law prohibits discrimination by employers on the basis of race, color, religion, gender, or national origin?
A) the Civil Rights Act of 1964 B) the Equal Employment Opportunity Act of 1972 C) the Americans with Disabilities Act of 1990 D) the Rehabilitation Act of 1973
Differentiate between the income effect and the substitution effect of a fall in the price of a good
What will be an ideal response?
A firm will maximize the present value of future profits by maximizing current profits when the:
A. growth rate and interest rate are constant and equal. B. interest rate is larger than the growth rate in profits and both are constant. C. growth rate in profits is larger than the interest rate. D. growth rate in profits is constant.