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Teaching Since: Apr 2017
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    Northwest Florida State College
    Jun-1992 - May-1997

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    Northwest Florida State College,
    Aug-2006 - Nov-2015

Category > Economics Posted 08 May 2017 My Price 9.00

Land close to the center of a city is in fixed supply,

Land close to the center of a city is in fixed supply, but it can be used more intensively by using taller buildings. When the population of a city increases, illustrate the long- and short-run effects on the housing markets using a graph.

Q26

Emus can be raised on a wide variety of ranch land, so that there are constant returns to scale in the production of emus in the long-run. In the short-run, however, the population of emus is limited by the number of breeding pairs of emus and the supply is essentially vertical. Illustrate the long and  short-run effects of an increase in demand for emus. (In the late 1980s, there was a speculative bubble in emus, with prices reaching $80,000 per breeding pair, in contrast to $2,000 or so today.)

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Status NEW Posted 08 May 2017 12:05 PM My Price 9.00

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