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Unformatted text preview: equilibrium price to go up and the equilibrium quantity to go down. T/F/Uncertain? Explain in detail. (20 pt.) 4. If the govt. decides to fix a minimum wage. Is it good or bad decision? Explain in detail (20 pt.) 5. What is a rent ceiling? What are the consequences of a rent ceiling fixed (i) below the equilibrium rent? (ii) above the equilibrium rent. What are the remedies to solve the issues created by a rent ceiling? Explain in detail. (20 pt.)...
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This note was uploaded on 06/19/2009 for the course ECON 103 taught by Professor Hanafiahharvey during the Summer '08 term at Simon Fraser.
- Summer '08