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ECN 361 DQ 1 & 2 Participation & Responses, Topic 2 - 8 (Package Deal)
ECN 361 DQ 1 & 2 Participation & Responses, Topic 2 - 8 (Package Deal)
[Show more]ECN 361 DQ 1 & 2 Participation & Responses, Topic 2 - 8 (Package Deal)
[Show more]Topic 2 DQ 1: 
Explain the difference between change in quantity demanded and shift in demand. What causes change in quantity demanded? What causes a shift in demand?
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Add to cartTopic 2 DQ 1: 
Explain the difference between change in quantity demanded and shift in demand. What causes change in quantity demanded? What causes a shift in demand?
Topic 2 DQ 2: 
Adam and Barb go to the store to purchase some lottery tickets. Without looking at the price, Adam says, "I’ll take 10 lottery tickets," and Barb says, "I’ll take $10 worth of lottery tickets." What is each person’s price elasticity of demand for lottery tickets? Explain yo...
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Add to cartTopic 2 DQ 2: 
Adam and Barb go to the store to purchase some lottery tickets. Without looking at the price, Adam says, "I’ll take 10 lottery tickets," and Barb says, "I’ll take $10 worth of lottery tickets." What is each person’s price elasticity of demand for lottery tickets? Explain yo...
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 r...
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Add to cartTopic 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 r...
Topic 3 DQ 2: 
Does the United States' labor supply tend to be more elastic or more inelastic? Explain the competing theories discussed in the textbook. Which seems more convincing to you?Explain your answer.
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Add to cartTopic 3 DQ 2: 
Does the United States' labor supply tend to be more elastic or more inelastic? Explain the competing theories discussed in the textbook. Which seems more convincing to you?Explain your answer.
Topic 4DQ1 
The creation of knowledge is a public good. Because knowledge is a public good, profit-seeking firms tend to free-ride on the knowledge created by others and, as a result, devote too few resources to the creation of knowledge. How does the U.S. government correct for this apparent market...
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Add to cartTopic 4DQ1 
The creation of knowledge is a public good. Because knowledge is a public good, profit-seeking firms tend to free-ride on the knowledge created by others and, as a result, devote too few resources to the creation of knowledge. How does the U.S. government correct for this apparent market...
Topic 4DQ2 
The Coase theorem suggests that efficient solutions to externalities can be determined through bargaining. Under what circumstances will private bargaining fail to produce a solution? Explain your answer.
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Add to cartTopic 4DQ2 
The Coase theorem suggests that efficient solutions to externalities can be determined through bargaining. Under what circumstances will private bargaining fail to produce a solution? Explain your answer.
Topic 5 DQ 1 
List and briefly explain each of the four properties of indifference curves. Provide an example where you have made a buying decision based on one or more of these properties. Justify your answer.
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Add to cartTopic 5 DQ 1 
List and briefly explain each of the four properties of indifference curves. Provide an example where you have made a buying decision based on one or more of these properties. Justify your answer.
ECN Topic 5 DQ 2 
Evaluate the following statement: "Warren Buffet is one of richest people in the world. He doesn't face any constraint on his ability to purchase commodities he wants." Do you agree with this statement? Why or why not?
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Add to cartECN Topic 5 DQ 2 
Evaluate the following statement: "Warren Buffet is one of richest people in the world. He doesn't face any constraint on his ability to purchase commodities he wants." Do you agree with this statement? Why or why not?
ECN Topic 6 DQ 1 
Suppose that a small family farm sold its output for $100,000 in a given year. The familyspent $25,000 on fuel; $40,000 on seed, fertilizer, and pesticides; and $25,000 on equipment, including maintenance. The family members could have earned $20,000 working at other occupations. W...
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Add to cartECN Topic 6 DQ 1 
Suppose that a small family farm sold its output for $100,000 in a given year. The familyspent $25,000 on fuel; $40,000 on seed, fertilizer, and pesticides; and $25,000 on equipment, including maintenance. The family members could have earned $20,000 working at other occupations. W...
Topic 6 DQ2 
News reports from the western United States occasionally report incidents of cattle ranchers slaughtering many newborn calves and burying them in mass graves rather than transporting them to markets. Assuming that this is rational behavior by profit-maximizing "firms," explain what ec...
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Add to cartTopic 6 DQ2 
News reports from the western United States occasionally report incidents of cattle ranchers slaughtering many newborn calves and burying them in mass graves rather than transporting them to markets. Assuming that this is rational behavior by profit-maximizing "firms," explain what ec...
ECN Topic 7 DQ 1 
In many college towns, private independent bookstores typically locate on the periphery 
of the college campus. However, in some college towns, the university has used political 
power to restrict private bookstores near campus through community zoning laws. Use 
your knowledge o...
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Add to cartECN Topic 7 DQ 1 
In many college towns, private independent bookstores typically locate on the periphery 
of the college campus. However, in some college towns, the university has used political 
power to restrict private bookstores near campus through community zoning laws. Use 
your knowledge o...
ECN Topic 7 DQ 2 
In markets where the government imposes an excise tax on unit sales, it also has a 
tendency to dabble with restrictions on advertising (for example, cigarettes and hard 
liquor). Do potential (or actual) restrictions on advertising in these markets serve the 
interest of a gove...
Preview 2 out of 5 pages
Add to cartECN Topic 7 DQ 2 
In markets where the government imposes an excise tax on unit sales, it also has a 
tendency to dabble with restrictions on advertising (for example, cigarettes and hard 
liquor). Do potential (or actual) restrictions on advertising in these markets serve the 
interest of a gove...
ECN Topic 8 DQ 1 
Using the theory of wage determination, explain why wages in developing countries, 
where levels of capital are small, are typically quite low.
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Add to cartECN Topic 8 DQ 1 
Using the theory of wage determination, explain why wages in developing countries, 
where levels of capital are small, are typically quite low.
ECN Topic 8 DQ 2 
In the 1980s, the dangerous Ebola virus entered the United States through 
contaminated monkeys that were imported for use in medical experiments. Suppose 
this virus had not been contained but had spread to the general population. Assume that 
the virus is lethal in half of the ...
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Add to cartECN Topic 8 DQ 2 
In the 1980s, the dangerous Ebola virus entered the United States through 
contaminated monkeys that were imported for use in medical experiments. Suppose 
this virus had not been contained but had spread to the general population. Assume that 
the virus is lethal in half of the ...
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