The shortage created by a rent ceiling below the equilibrium rent is smallest when the demand for housing is ________ and the supply of housing is ________
A) elastic; elastic
B) elastic; inelastic
C) inelastic; elastic
D) inelastic; inelastic
E) unit elastic; unit elastic
D
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In the figure above, what is the efficient quantity of pesticide to produce?
A) 300 tons per month B) 240 tons per month C) 180 tons per month D) 360 tons per month
Assume you are the owner of a delivery service company with a large fleet of trucks and drivers. Each of your drivers is allowed two thirty-minute breaks per day. However, some of them take longer breaks than your policy allows
You find out about this problem only by accident when you heard a couple of employees discussing during a morning coffee break. What kind of a problem is this for you from an economic point of view and what methods might you employ to mitigate this problem?