Problem Set #2 - Problem Set #2 (due Friday, January 30) Ec...

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Problem Set #2 (due Friday, January 30) Ec 201 Spring, 2009 Michigan State University L. Martin 1. Supply and demand. Use supply and demand to analyze the effects of each of the following. Draw diagrams and explain. a. What is the effect of an increase in the price of wheat on the market for bagels? b. College students earn more money today in part-time jobs. How does this affect the market for off-campus housing? c. How will the scheduling of the Olympic games in London affect the market for hotel rooms in that city? d. What is the impact of an increase in illegal immigration on the market for unskilled labor in the United States? e. What is the effect of regulations that limit mercury emissions on the market for electricity? (Burning fossil fuels emits small quantities of mercury that accumulate in the environment.) f. How does an increase in electricity prices affect the market for air conditioners? g.
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Problem Set #2 - Problem Set #2 (due Friday, January 30) Ec...

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