Data scientists at airbnb estimate that the demand for weekly rentals of apartments in miami during the summer months is given by qd = 600 – 0.5p, where q is the number of rentals (in thousands) and p is a week’s rent. suppose the available supply of rentals is perfectly inelastic at 200 (thousand) units.

a) sketch the market, and calculate the consumer surplus received by vacationers visiting miami and the producer surplus received by owners of the rental units.

b) in order to property owners in miami, the city of miami decides to set a price floor of $900 for a week’s rent. analyze the welfare effect of such policy (i. e., calculate the change to consumer surplus, producer surplus, total surplus, and the deadweight loss).

c) now suppose that instead of a price floor, the city of miami set a price ceiling of $600 for a week’s rent (in an attempt to increase tourism to the city). analyze the welfare effect of this policy. explain the difference between the economic welfare outcomes of the two policies given in (b) and (c).

When paul o’neill joined alcoa as ceo, he set a , that there would be zero workplace accidents. a lot of people in the organization thought this was impossible given how dangerous some aluminum-manufacturing jobs are, but alcoa’s safety record improved tremendously. as the board of governors of the american red cross considers planning, one option is to make strategic plans and then direct managers to align tactical and operational plans accordingly. another option is to have planning specialists managers across the organization make their own plans. why might this organization’s executives opt for the latter approach? check all that apply. (a) the environment is a dynamic one, and department and frontline managers can come up with more responsive plans than can central leadership. (b)resources will be better coordinated across the organization in support of the overall strategy.(c) senior leadership will have more control over the organization’s direction. (d)when managers come up with their own plans, they are likely to be more committed to following through on them.