Author Question: An affordable housing law will affect a city's housing prices only if: a. the demand for houses in ... (Read 181 times)

rosent76 · **on:** Jun 30, 2018

An affordable housing law will affect a city's housing prices only if:
a. the demand for houses in the city is downward sloping.
b. the demand for houses in the city is almost horizontal.
c. the demand for houses in the city is almost vertical.
d. the demand for houses in the city is backward bending.

Question 2

Nancy owns and operates a drug store that generates total revenues worth 30 million in a particular year. Her accounting costs for the year are 25 million. She could have earned 3 million in this year, if she had worked as a consultant for a pharmaceutical firm. Further, she could have earned 5 percent interest on 40 million of her own money that she invests in the business this year. Nancy's accounting profit in this year is _____ and her economic profit is _____.
a. 5 million; zero
b. 5 million; 3 million
c. 5 million; 8 million
d. zero; 3 million
e. 3 million; 43 million