Managerial economics

Apply demand and supply analysis in CH 2 to answer the following questions related to the U.S. real estate market: 1. What will be the impact on residential real estate market if the Fed raises the interest rate again in this year? Please state the leftward/rightward shift on either demand/supply curve and comment on the equilibrium price change. 2. If a price ceiling on real estate agency commission is set at 1% only, what will be the impact on new market equilibrium price and quantity of residential real estate market? Please comment on it. 3. Using optimization theory in Chapter 3, please comment on the following quotation: “If Congress cuts out the NASA space station, we will have wasted all the resources that we have already spent on it. Therefore, we must continue funding it.” 4. Newspaper and soft drink are priced almost the same around $1 per unit by vending machines. Given the same unit price (value), how come a newspaper vending machine can be opened easily (i.e. take as many as you want) but a Coke vending machine is tough to open (i.e. drop one can at a time)? Please discuss it by marginal analysis for optimization.