Ecn 361 topic 2 dq - Study guides, Class notes & Summaries

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 your answer

Topic 2 DQ 3: Suppose a farmer knows that he will be able to harvest and sell 3,000 bushels of wheat. Would he prefer a market in which conditions are favorable and most farmers harvest large crops or a market in which conditions are unfavorable and many farmers harvest small crops? Why?

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?

ECN 361 Topic 2 DQ 2 Participation & Responses

ECN 361 Topic 2 DQ 2 Participation & Responses

ECN 361 Topic 2 DQ 1 Participation & Responses

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 your answer

ECN 361 Topic 2 DQ 1 Participation & Responses

ECN 361 Topic 2 DQ 3

ECN 361 Topic 2 DQ 3