What is the long-run effect
If the federal government regulates a product or service in a competitive market by setting a maximum price below the equilibrium price, what is the long-run effect?
A decrease in demand.
B. A shortage.
C. No effect on the market.
D. A surplus.
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Calculate the firm's optimal output and profits if prices are stable at $55 per toner cartridge. Calculate the firm's optimal output and profits if prices rise to $65 per unit.
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Suppose that you are in a committee meeting of the United Nations. Consider the following questions: When is international trade an opportunity for workers?
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