Using the parametric chain rule, you can find dy/dx for functions such as x = 5 cos t y = 3 sin t Write a formula for dy/dx in terms of t.

● Price ceiling is binding when it actually matters ○ However, price ceiling is not binding when it is above the equilibrium price ○ The price ceiling is only binding when it is below the equilibrium price ● Excess supply equates to surplus ○ A surplus of consumer goods moccurs when there is a binding price floor ○ The number of producers exceeds the number of...