ECN 361 DQ 1 Participation & Responses Topic 2 - 8 (Package Deal)

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...

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...

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.

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...

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...

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.