Start Discovering Solved Questions and Your Course Assignments
TextBooks Included
Active Tutors
Asked Questions
Answered Questions
What would have happened to iPod prices and features if Apple had not faced competition from iPod clones?
What was the nature of the damages to Polaroid? How could you compute them? (The court awarded Polaroid a record $900 million!)
Why don't monopolists try to establish the highest price possible, as many people allege? What would happen to sales? To profits?
What does the demand for enrollments in your college look like? What is on the axes? Is the demand price-elastic? Income-elastic?
How does XM Satellite deter nonsubscribers from listening to its transmissions? Does this make radio programming a private good or a public good?
The government now spends over $500 billion a year on Social Security benefits. Why don't we leave it to individuals to save for their own retirement?
Why might Fourth of July fireworks be considered a public good? Who should pay for them? What about airport security?
Could local fire departments be privately operated, with their services sold directly to customers? What problems would be involved in such a system?
Why should taxpayers subsidize public colleges and universities? What external benefits are generated by higher education?
What would happen in the apple market if the government set a minimum price of $2.00 per apple? What might motivate such a policy?
Why do Internet ticket resellers make so much money (News, p. 58)? How else might tickets be (re)distributed?
What would have happened to gasoline production and consumption if the government had prohibited postKatrina price increases?
How might free markets help reduce global poverty? How might they impede that goal?
Should the government try to equalize incomes more by raising taxes on the rich and giving? How might such redistribution affect total output and growth?
Why should the government regulate how goods are produced? Can regulation ever be excessive?
If a firm is incurring an economic loss, would society be better off if the firm shut down? Would the firm want to shut down? Explain.
What kind of economies of scale exist in the funeral business? Why doesn't someone build one colossal funeral home and drive costs down further?
Owner/operators of small gas stations rarely pay themselves an hourly wage. How does this practice affect the economic cost of dispensing gasoline?
What are the production costs of your economics class? What are the fixed costs? The variable costs? What's the marginal cost of enrolling more students?
According to the News stories on pages 95 and 96, how does the price elasticity of demand differ for teenagers and adults? Why?
Why are per capita advertising expenditures so high in the United States and so low in Brazil?
Why is the demand for New York City cigarettes so much more elastic than the overall market demand for cigarettes?
Identify two goods each whose demand exhibits ( a ) high income elasticity, ( b ) low income elasticity. What accounts for the differences in elasticity?
how would consumption of ( a ) gasoline, ( b ) cars, and ( c ) public transportation be affected? How quickly would these adjustments be made?
How many people are employed by your local or state government? What do they produce? What is the opportunity cost of that output?