Write down the quantity equation, in both the level and the rates of change form.What do each of the terms represent?
September 3, 2020
Clearly identify all alternatives (your model should evaluate three alternatives). Construct an NPW or EUAW (or EUAC) graph showing all alternatives…
September 3, 2020

Explain what Effective Price floor is (above the equilibrium price) and efficiency. Illustrate by giving examples.

Explain what Effective Price ceiling is (below the equilibrium price) and efficiency. Illustrate by giving examples.

Explain what Non-binding price floor is. Illustrate by giving examples.

Explain what Non-binding price ceiling is. Illustrate by giving examples.

In perfectly competitive markets, what is the most efficient rationing mechanism? Why?

How do taxes on sellers affect market outcomes?

How do taxes on buyers affect market outcomes?

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