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If a price ceiling of $6.00 is imposed and the demand rises to QD = 150 - 20P, what would be the consequences in the market?
Compare the weak axiom of revealed preference with the strong axiom of revealed preference.
List as many factors as you can that would cause shift in demand and supply separately. How would demand of wide-screen TVs and the supply of tobacco affected?
What is the dynamically efficient allocation in each period if the total quantity is 60 and the discount rate is zero? Illustrate your answers with graphs.
From your own experience, provide two or three reasons why more people do not adopt these seemingly negative-cost items.
Draw a monopoly graph and indicate the level of a price ceiling that would decrease the quantity of output to a level below the monopoly level of output.
What do you see as the greatest specific cost and benefit of globalization?
Does this make sense from an economic standpoint? Using a graph, illustrate the effect of this burn on the quantity of tusks supplied illegally by poachers.
What incentives do they have to prioritize environmental interests? Are these incentives appropriate? If not, how could the incentive structure be changed?
Globalization may permit firms to shop across countries to find low environmental standards. Explain the remedy you favor for this practice.
Describe a weakness of the CVM method. What makes this method attractive despite potential flaws?
How would you decide which species to provide with boarding passes? Be specific. Your method does not need to be one of those described in this chapter.
What is the CVM valuation of the white-crowned pigeon? What components of value would this estimate omit?
What is the most you would be willing to contribute in a one-time payment for the return of the passenger pigeon (Ectopistes migratorius)?
If the environmental Kuznets curve held for individual households, what would the pollution-minimizing Gini coefficient be?
How do you think your decision to attend college will affect timing of any children you might have relative to if you ended your schooling after high school?
If you presided over an international organization and wanted to increase population doubling time in Bangladesh what specific type of policy would you suggest?
Draw a demand curve and a marginal cost curve for having children. Indicate the influence of each of the following on the graph and label shifted curves.
Draw two budget constraints, one reflecting a fixed fee for unlimited trash pickup and one reflecting a pay-per-throw program.
What was your least-sustainable activity over the last week? What costs and benefits did you consider when deciding to carry out that activity?
Identify a particular group that is likely to object to an NCD tax and explain the basis for their objection.
In what way is the threat of the giant panda becoming extinct an international problem? How might international cooperation lead to a solution?
What is the logic behind a policy of noncompliance with the demands of terrorists? What would happen if we gave some terrorists the policy changes they desired?
In what situations are command-andcontrol regulations most appropriate? Provide a specific example that is not from this book.
how commandand-control policies, including the Endangered Species Act and the National Pollutant Discharge Elimination System, combined with market incentives.