1. Use a supply-demand diagram to explain how scalpers earn their living and why scalpers may :improve the efficiency of the market.

2. As the level of education of the population increases, the economy grows and everyone benefits. Does this imply that education should be available to everyone without tuition?

3. Vancouver city council wants to impose a more severe form of rent control encourage low cost housing, that are the likely effects of this polity? Explain.

4. Explain what is meant by a Pigovian tax.

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1 This question hints clearly about the labor supply in the market and shifts in the labor supply curve backward In short after increase in wage rates ... View the full answer