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Suppose that both the equilibrium price and quantity of golf clubs rise. Which of the following explanations would best explain this outcome?
a. A decrease in demand for golf clubs with no change in supply.
b. An increase in supply of golf clubs with no change in demand.
c. A decrease in demand for golf clubs and a decrease in the supply of mustard.
d. An increase in demand for golf clubs with no change in supply.
Question: Explain why the free rider problem makes it difficult for perfectly competitive markets to provide the Pareto efficient level of a public good.
Some commentators have argued that the failure of the “Super committee” is good thing for the economy? Do you agree?
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Article Review Question: Read the following excerpts from the article "Fruit, veg costs surge' by Todd, Dagwell, published in the Herald on January 25th 2011 and answer questions below:
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"Does the economic bailout of Spain and Greece spell the beginning of the end for the European Monetary Union (EMU)?"
Read the rules of the game, the overview and the almanac for the Development Game "Settlers of Catan"
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