Start Discovering Solved Questions and Your Course Assignments
TextBooks Included
Solved Assignments
Asked Questions
Answered Questions
Calculate the percentage change in price and in quantity demanded and then the price elasticity of demand. Is this demand elastic, unit elastic, or inelastic?
Why can you be sure that her business is more profitable at the lower price? Explain why or why not.
Plot each group member's demand curve. Check to see whether each person's responses are consistent with the law of demand.
How does this example demonstrate cause and effect? What additional resources would the business require in order to increase its production?
Write an essay that identifies which gift you would choose and describes the opportunity cost that would result from your choice.
If the supply of capital falls by 10 percent and the supply of labor increases by 10 percent, analyze how will the PPF for wheat and cloth change?
Create a Division of Labor Make a list of five friends who you know well. Assume that the six of you have decided to open a small restaurant.
Why are you optimistic or pessimistic about the future? In thinking about appropriate balance between market and government in achieving sustainability/
Why would the rising cost of education have same effect on desired number of children, regardless of whether system was funded by property taxes or tuition?
Identify some public policies that could have an effect on fertility rates, and describe the relationship.
How could you use economics to explain these fertility rate differences? What tests could you devise to see whether this explanation has validity?
Would it be appropriate to implement this policy now in the United States? For those who believe that it would, what are the crucial reasons?
Why is informing the consumer about any toxic substances used in the manufacture of a product sufficient to produce an efficient level of toxic substance use?
What is the difference in practice between an approach relying on performance bonds and one imposing strict liability for cleanup costs on any firm for a toxic
Do they both provide efficient precautionary incentives for the victims? Why or why not?
How should the public sector handle a toxic gas, such as radon, that occurs naturally and seeps into some houses through the basement or the water supply?
Would the export of hazardous waste to developing countries be efficient? Sometimes? Always? Never? Would it be moral? Sometimes? Always? Never?
What factors should be considered in setting the premium? Would you expect a private insurance company to take all these factors into account? Why or why not?
How effective would a strategy targeting the retirement of old, fuel inefficient vehicles be?
What are the advantages and disadvantages of using an increase in the gasoline tax to move road transport decisions toward both efficiency and sustainability?
What effects should this policy have on mass-transit usage, gasoline sales, downtown shopping, and travel patterns?
If the objective is to cut emissions in half (to 15) cost-effectively, how much reduction should be assigned to each firm?
The transfer cost associated with an emissions-charge approach to controlling chlorofluorocarbon pollution. What circumstance would lead to high transfer costs?
Explain why an acid rain policy using emissions-charge revenue to provide capital and operating subsidies for scrubbers is less cost-effective than an emission.
Suppose in an emissions trading system the permits are allocated free of charge to emitters on the basis of how much they have historically emitted.