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America is a sculpture created in 2016 by the Italian artist Maurizio Cattelan. An example of satirical participatory art, [1] it is a fully functioning toilet made of 18- karat solid gold. [1][2] It was stolen in 2019 from Blenheim Palace, where it was exhibited on loan from the permanent collection of the Solomon R. Guggenheim Museum.
Ramsey problem. The Ramsey problem, or Ramsey pricing, or Ramsey–Boiteux pricing, is a second-best policy problem concerning what prices a public monopoly should charge for the various products it sells in order to maximize social welfare (the sum of producer and consumer surplus) while earning enough revenue to cover its fixed costs. Under ...
A government-set minimum wage is a price floor on the price of labour. A price floor is a government- or group-imposed price control or limit on how low a price can be charged for a product, [1] good, commodity, or service. It is one type of price support; other types include supply regulation and guarantee government purchase price.
Myth. We're still trying to eliminate sweatshops and child labor by buying right. But that's not how the world works in 2015. By Michael Hobbes. Art by Abigail Goh. There’s this video that went viral earlier this year. On Berlin’s Alexanderplatz, a vending machine is selling plain white T-shirts for €2 each.
Edict on Maximum Prices. The Edict on Maximum Prices (Latin: Edictum de Pretiis Rerum Venalium, "Edict Concerning the Sale Price of Goods"; also known as the Edict on Prices or the Edict of Diocletian) was issued in 301 AD by Diocletian. The document denounces greed and sets maximum prices and wages for all important articles and services.
A government-set minimum wage is a price floor on the price of labour. A price floor is a government- or group-imposed price control or limit on how low a price can be charged for a product, [21] good, commodity, or service. A price floor must be higher than the equilibrium price in order to be effective. The equilibrium price, commonly called ...
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