Question: Low income families want community colleges to impose a tuition
Low income families want community colleges to impose a tuition price ceiling. This way, more people get a college education. Do you agree? What economic analysis can you offer to make your case?
Answer to relevant QuestionsWhen the rains ended, most of the season's crops were destroyed. A government economic adviser suggests imposing a price ceiling on food. Her husband thinks a price floor is better. Who's right? Why? How do you view minimum wage laws? (A wage is the "price" of labor.) Do minimum wages rep resent price floors or price ceilings? Can you make a case for them? A case against them? Suppose she decides to switch from Stack Pro motions to Stack Promotions, Inc. Why would she do that? What kinds of variable costs would she encounter? What identifies those costs as variable? Why would a firm switch from one short-run average total cost structure to another?
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