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Would the use of this common resource be more efficient? Would it be even more efficient if the most popular spots along the trail had the highest prices?
Which items in the news clip are common resources? Which items are public goods? Which activities are likely to increase climate change? Explain your answer.
Give examples of three public goods that are produced by private firms but provided by government and paid for with taxes.
Neither is happening and private companies building toll road brings howls of outrage. Why is it politically tricky to raise gas taxe to finance infrastructure?
Explain why a measles vaccination is not public good but why, nonetheless, efficient outcome can be achieved by making it compulsory and paid for by government.
What is the outcome if Betty drives her car with Anna as a passenger? And anna drives her car with Betty as a passenger?
Why Should Childhood Vaccines Be Mandatory? Explain why someone who doesn't get vaccinated against measles is a free rider.
Review three methods that might achieve the efficient use of a common resource and explain the obstacles to efficiency.
How do rationally ignorant voters and budget maximizing bureaucrats prevent the political marketplace from delivering the efficient quantity of a public good?
Under what conditions will competition among politicians for votes result in an efficient provision of a public good?
What is the free-rider problem? Why do free riders make the private provision of a public good inefficient?
Why would the market overproduce electricity and transportation? At what level should a carbon tax be set to achieve an efficient use of resources?
Each firm is trying to decide whether to sell the browser or to give it away. What are the likely benefits from each action? Which action is likely to occur?
Why do Coca-Cola and PepsiCo spend huge amounts on advertising? Do they benefit? Does the consumer benefit?
What, based on the information provided, turned out to be the equilibrium of the game?
PS4 vs. Xbox One Battle Means Gamers Win, Sony Says Microsoft's latest move in the PlayStation. Can you think of reasons why the two consoles are different?
If Bud and Wise in Problem 10 play the game repeatedly, what is the equilibrium of the game?
What type of market does the news clip imply best describes the oil market?
Describe the MAP strategy used by Apple and explain how it differs from a resale price maintenance agreement that would violate the anticombine law.
Why might the MAP strategy be against the social interest and benefit only the producer?
Why did they not raise their prices in Manitoba and Saskatchewan? How is the game different in those provinces?
In what type of market are big airplanes sold? Thinking of competition between Boeing and Airbus as a game, what are the strategies and the payoffs?
How might governments use public provision, private subsidies, and vouchers to achieve an efficient amount of education?
How might governments use public provision, private subsidies, vouchers, and patents and copyrights to achieve an efficient amount of research and development?
Compare the outcomes when property rights exist and when the pollution tax achieves the efficient amount of waste.