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How does the price of sugar in Brazil change? Do Brazilians buy more or less sugar? Do Brazilian sugar growers produce more or less sugar?
Draw a graph of the U.S. market for textiles and show how removing a tariff would change producer surplus, consumer surplus and the deadweight loss from tariff.
The United States exports wheat. Draw a graph to illustrate the U.S. wheat market if there is free international trade in wheat.
What might have been Ford's and General Motors' argument for the high tariff? Is the tariff the best way to achieve the goals of the argument?
What is the subsidy per student, how many students enroll, and what is the cost to taxpayers?
If the government offers vouchers to students, what is the value of the voucher that will encourage the efficient number of students to enroll?
Explain how ownership of these mineral resources will influence the amount of damage done to the Arctic Sea and its wildlife.
Explain how Seattle's 20-cents charge will change the use of plastic bags and how the deadweight loss created by plastic bags will change.
Plans to curtail use of plastic bags, but not much action Last summer. Explain why a complete ban on plastic bags would be inefficient.
With no government involvement in college education, how many students enroll and what is the tuition? Calculate the deadweight loss created.
If the government subsidizes colleges so that the efficient number of students will enroll, what is the cost to taxpayers?
If the government offers vouchers to students and values them so that the efficient number of students will enroll, what is the value of the voucher?
Explain the conditions under which a cap-and-trade system would reduce the amount of airline emissions to the efficient quantity.
Create large carbon emissions, but it would encourage Americans to use less carbon-intensive goods and services, which could slow global warming.
If health insurance is optional, would healthy people be more likely or less likely to buy insurance?
Why would you buy collision insurance? If insurance company offers you a large deductible or a no-claim bonus are you likely to take the offer? Why or why not?
Is there an adverse selection problem in a transaction between Mary and an insurance company? Explain why or why not.
Did G.M. sell 6,800 lemons to people who bought the pickups? If G.M. did, what was the private information that it had that buyers did not know?
Judy knows that her car is a lemon and offers it for sale. If the used-car market is working efficiently, will buyers know whether her car is a lemon?
Explain how the Pacific islands' action influences the efficiency of the use of tuna resources and illustrate your answer with a graph of the tuna market.
Is water in the Great Lakes a public good, a private good, or a common resource? What are the goals of the compact? How might they be achieved?
What type of good is a high-speed rail network? Why might it be provided by government rather than privately?
When an oil company receives a permit to develop a particular oil reserve, is that oil reserve a public good or a private good?
If hikers and others were required to pay a fee to use the Appalachian Trail. Why do you think we don't see more market solutions to the tragedy of the commons?
Are China's price controls price floors or price ceilings? Draw a graph to illustrate the shortages of coal and gasoline created by the price controls.