Ecn361 topic 2 - Study guides, Class notes & Summaries

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.

ECN 361 Topic 3 DQ 2 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 6 DQ 2 Participation & Responses

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 government that is interested in maximizing its tax revenue from the sale of these products? Explain your answer.

ECN 361 Topic 7 DQ 2 Participation & Responses

ECN 361 Topic 3 DQ 2 Participation & Responses

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 economic factors may influence such behavior.

ECN 361 Topic 2 DQ 2 Participation & Responses

ECN 361 Topic 7 DQ 2 Participation & Responses