Why would economists disagree over positive analysis?
Economists might disagree over positive analysis for at least two reasons. One, a particular model may yield mixed results. Two, the information available may be insufficient to make a compelling theory.
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Explain why the monopolist has no supply curve?
What will be an ideal response?
Which of the following is consistent with the classical position on wages and prices?
A) Wages and prices are inflexible in the downward direction, but not in the upward direction. B) Wages are inflexible in the downward direction, but prices are flexible. C) Wages and prices are flexible. D) Prices are inflexible in the downward direction, but wages are flexible.
Refer to the figures below to answer this question:
Cap-and-trade versus emissions fee when marginal social benefits are inelastic and costs are
uncertain:
Cap-and-trade versus emissions fee when marginal social benefits are elastic and costs are uncertain:
a) In case of an inelastic marginal social benefit curve, what type of pollution reduction system should the government employ? Why?
b) If the social benefit curve is elastic, do you answer change?
c) What are advantages and disadvantages of Cap-and-Trade systems over Emission Fee
systems when the inflation and change in marginal costs are considered?
The demand for shoes is ________ than is the demand for sneakers because ________.
A. more price elastic; the scope of the market for shoes is more broadly defined B. less price elastic; the scope of the market for shoes is less broadly defined C. more price elastic; the scope of the market for shoes is less broadly defined D. less price elastic; the scope of the market for shoes is more broadly defined