Price controls
A. are government-mandated minimum or maximum prices that may be charged for goods.
B. exist when firms decide that they want to charge a higher price for their product.
C. exist when consumers boycott a product.
D. are the benefit of discount stores like Sam's Club.
Answer: A
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Given the scenario described, if the market price of hammers increased from $9 to $13:
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A depreciation of the dollar causes
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Trisha believes the production of a dress requires 4 labor hours and 2 machine hours to produce. If Trisha decides to operate in the short run, she must spend $500 to lease her business space
Also, a labor hour costs $15 and a machine hour costs $35. What is Trisha's cost of production as a function of dresses produced?