Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Microeconomics Expert

Economics


Home >> Microeconomics

Question: When the United States had price controls on oil and gasoline, some parts of the United States had a lot of heating oil, while other states had long lines. As in the chapter, let's assume that winter oil demand is higher in New Jersey than in California. If there had been no price controls, what would have happened to the prices of heating oil in New Jersey and in California and how would "greedy businesspeople" have responded to these price differences?

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M92652632

Have any Question?


Related Questions in Microeconomics

Global poverty is an international issue other countries

Global poverty is an international issue. Other countries are inclined to look to the U.S. with its great wealth to take an active role in assisting poor nations. People here spend money trying to counter baldness while ...

Question imagine that there is an adverse supply shock draw

Question: Imagine that there is an adverse supply shock. Draw a graph depicting the adverse supply shock, and explain what it means for an economy (in terms of prices and output). The response must be typed, single space ...

Consider a competitive market for apples demand is given by

Consider a competitive market for apples. Demand is given by the relation: Qd = 100 - 6P, whereas supply is given by the relation Qs = 50 + 4P. Evaluate the free market by finding the equilibrium price and quantity. Eval ...

Question as a manager one of your responsibilities is to

Question: As a manager, one of your responsibilities is to monitor recent changes in inflation. However, the recent statistics appear to be quite confusing. The CPI rose only 0.1%, but the PPI for finished goods increase ...

Question during the great recession like any other economic

Question: During the Great Recession, like any other economic downturns, as unemployment rises, aggregate income declines causing a major decline in tax collections. On the other hand, with the rise in unemployment, spen ...

Question participation in the labor force is a personal

Question: Participation in the labor force is a personal decision that can be illustrated using indifference curves and budget constraints. A. Explain and show graphically why a person with non-labor income may choose no ...

Question mr asimov must replace the 15 robots on his

Question: Mr. Asimov must replace the 15 robots on his assembly line. The Robo100 model costs $49379 per robot and they will last for three years. The EconoRobo model costs $11101 per robot and will last for two years. T ...

Question in the 1970s a big increase in the federal budget

Question: In the 1970s, a big increase in the Federal budget deficit was not offset by higher interest rates, so the rate of inflation tripled. In the 1980s, a big increase in the deficit was offset by higher interest ra ...

Question 1 consider the following utility function and

Question: 1. Consider the following utility function and corresponding marginal rate of substitution for consumption, C and leisure, and L: U = CL square ( just the L is square, the C is normal) and MRS = - L/2C . The co ...

Question melinda gibbs would like for her descendants to be

Question: Melinda Gibbs would like for her descendants to be able draw $40,000 every year for ever starting 30 years from now. She has found a mutual fund that will provide her a guaranteed 10% return forever. She will m ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As

Follow Us

© Copyright 2013-14 mywordsolution.com All rights reserved