microeconomics

Project Description:

consider the market for newspaper delivery kids in kidsville. each news kid receives a piece rate of $2 per subscriber per month and has a fixed territory that initially has 100 subscribers. the price elasticity of demand for subscriptions is 2.0. suppose the new city council of kidsville passes a law that establishes a minimum piece rate of $3 per subscriber per month. as a result, the publisher increases the monthly price of a subscription by 20 percent. how will the new law affect the monthly income of the typical news kid?
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