About ingenious invention called knee defender

Assignment Help Microeconomics
Reference no: EM133313847

Have you heard about an ingenious invention called knee defender? It is a pair of small plastic devices (just a bit bigger than a house key), which are clipped onto the arms holding up the tray table of an airplane seat. If you placed these clips against the seat in front of you, that seat is blocked from reclining. Hopefully, the person in front of you would just think their seat is broken as they will not be able to recline it.

This device was gaining popularity a few years ago, but it also led to passengers fighting with each other. (Some of these mid-air fistfights and wrestling contests were recorded and posted on YouTube). In consequence, airlines banned knee defenders. Do you think this example could be used as the proof that Coase Theorem does not work in practice? Explain.

Reference no: EM133313847

Questions Cloud

What did berkshire hathaway do wrong in the last five years : What did Berkshire Hathaway do wrong in the last five years?Find which unethical things they have done in the previous five years.
How do we make choices about life and death : If all people have dignity and infinite worth, then how do we make choices about life and death? Suppose we have to choose between repairing a road in Boston
When animal experimentation is used to develop new drugs : Is society morally obligated to equally consider all sentient beings (i.e., should animals have the same moral consideration as human beings)?
What is bertrand equilibrium price of shoes : What is the Bertrand equilibrium price of shoes? How many pairs of shoes are purchased?
About ingenious invention called knee defender : Have you heard about an ingenious invention called knee defender? It is a pair of small plastic devices
Why is religious belief and practice so pervasive : What are some of the factors that account for the fact that so many humans are religious?why is religious belief and practice so pervasive?
Formulate rm prot maximization problem : Formulate the rm's prot maximization problem. What is the optimal amount of electricity it will buy?
What is the purpose of special education assessment : What is the purpose of assessment? What is the assessment? What information is provided? How would this be helpful as an educator?
Equilibrium price and quantity of milk bought and sold : What would be the (unregulated) equilibrium price and quantity of milk bought and sold in Louisiana?

Reviews

Write a Review

Microeconomics Questions & Answers

  Immigration on the economy

Someone claim that immigration must always be good for economy because the raised supply of labor will result in a higher GDP. Estimate this statement.

  What is the opportunity cost of producing

Based on the data provided, what is the opportunity cost of producing pastries and sandwiches in Northland? What is the opportunity cost of producing pastries and sandwiches in West Coast?

  Write an integral that gives the average profit

Write an integral that gives the average profit for the product over the interval from x0 to x1.

  Name the four phases of mitosis

Name the four phases of mitosis. What is the main outcome of mitosis? What is the outcome of meiosis?

  What kind of analysis might the board undertake

Apply the six decision-making steps presented in the chapter to the town's deci- sion. What objectives might the town pursue in making its decision? What addi- tional information would the planning board need in carrying out the various steps? Wha..

  Describe decision-making process when mr is greater than

explain the decision-making process when mr is greater than mc and when mc is greater than mr. why does a manager want

  Low income housing or subsidized housing in urban

low income housing or subsidized housing in urban economics.the paper must be atleastten pages longmake sure that you

  Define the aggregate supply curves

In Europe nearly two thirds of wages are covered by union collective bargaining agreements; wage rates are determined (or fixed) for a given time period.

  What is the level of private saving and consumption

What is the level of aggregate production in this economy? Show your work. What is the equilibrium interest rate and equilibrium level of investment for this economy? Show your work. What is the level of private saving, Sp, and consumption, C, in thi..

  Business etiquette is an important component for business

You will write a one-to-two page paper about your specific chosen topic. Discuss at least four points that are important considerations for the topic you chose and include 2 or 3 sentences discussing why each point is important to consider as a busin..

  Perfectly competitive firm is zero-profit equilibrium

The long-run equilibrium for a perfectly competitive firm is zero-profit equilibrium. Does this mean that owners of these firms have no income? Explain.

  Connections in female labor force participation and divorce

Explain the connections that exist between female labor force participation and divorce. Use your analysis to predict the patterns of divorce and female labor force participation over the next decade.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd