Ecn361 topic 1 - Study guides, Class notes & Summaries

1. Question: While pollution regulations yield the benefit of a cleaner environment and the improved health that comes with it, the regulations come at the cost of reducing the incomes of the regulated firms' owners, workers, and customers. This statement illustrates the principle that 2. Question: Which of the following is an example of a normative, as opposed a to positive, statement? 3. Question: Refer to Table 2-2 .What is the opportunity cost to Footville of increasing the production of ...

1. Question: While pollution regulations yield the benefit of a cleaner environment and the improved health that comes with it, the regulations come at the cost of reducing the incomes of the regulated firms' owners, workers, and customers. This statement illustrates the principle that 2. Question: Which of the following is an example of a normative, as opposed a to positive, statement? 3. Question: Refer to Table 2-2 .What is the opportunity cost to Footville of increasing the production of ...

ECN 361 Topic 8 DQ 1 Participation & Responses

ECN 361 Topic 8 DQ 1 Participation & Responses

Topic 3 DQ 1: Consider the market for white athletic socks, which consumers consider to be identical products. If the demand is very elastic and the supply is very inelastic, how would the burden of a new tax on athletic socks be shared between consumers and producers? What if the situation were reversed – a very inelastic demand and a very elastic supply? How would that change the way consumers and producers share the burden of the new tax? Justify your answer.

ECN 361 Topic 7 DQ 1 Participation & Responses

Topic 1 DQ 1: If the United States could produce five televisions per hour of labor and China could produce three televisions per hour of labor, would it necessarily follow that the United States should specialize in television production? Why or why not?

1. Question: While pollution regulations yield the benefit of a cleaner environment and the improved health that comes with it, the regulations come at the cost of reducing the incomes of the regulated firms' owners, workers, and customers. This statement illustrates the principle that 2. Question: Which of the following is an example of a normative, as opposed a to positive, statement? 3. Question: Refer to Table 2-2 .What is the opportunity cost to Footville of increasing the production of ...

ECN 361 Topic 7 DQ 1 Participation & Responses

ECN 361 Topic 4 DQ 1 Participation & Responses