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There is a debate about whether sterile hypodermic needles should be passed out free of charge in cities with high drug use. Proponents argue that doing so will reduce the incidence of diseases, such as HIV/AIDS, that are often spread by needle sharing among drug users. Opponents believe that doing so will encourage more drug use by reducing the risks of this behavior. As an economist asked to assess the policy, you must know the following: (i) how responsive the spread of diseases like HIV/AIDS is to the price of sterile needles and (ii) how responsive drug use is to the price of sterile needles. Assuming that you know these two things, use the concepts of price elasticity of demand for sterile needles and the cross-price elasticity between drugs and sterile needles to answer the following questions.
a. In what circumstances do you believe this is a beneficial policy?
b. In what circumstances do you believe this is a bad policy?
In order to derive an individual's demand curve for salmon, we would observe what happens to the utility-maximizing bundle when we changea. income and hold everything else constant. b. the price of a close substitute and hold everything else constan..
Imagine your boss in the United States home office wants to know your perspective on the following. How do international sanctions, tariffs, quotas,
It is often suggested that the Federal Reserve try to achieve zero inflation. If we assume that velocity of money is constant, does this zero-inflation goal require that the rate of money growth equal zero
If the price of a mouse pad is $7.00, describe the situation in the market. Explain how market equilibrium is restored. What is the market equilibrium if a fall in the price of a computer changes the quantity demanded of mouse pads by 20 a week at e..
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explain in words, and use a graph to illustrate, how a Monopoly decides how much to change and how much to produce. Include Marginal Cost, Marginal Revenue, Demand, Average Total Cost, and Profit. Assume the Monopoly is a Natural Monopoly and draw..
Assume you're in charge of the toll bridge that essentially cost free. The demand for bridge crossings Q is given by P = 60 - 2Q. Draw a demand curve for bridge crossings
If we believe that the laws of supply and demand always hold, explainc why is it that the 'popular' gifts for the holidays always sell out early?
Find a descriptive article (1 page or more) which deals with a current exchange rate issue.
Prepare a 2 page paper using APA format discussing Airline Ticket Prices.Explain the rationale behind equal prices for unequal distances in air travel using supply, demand, and cost curves.
Rent-seeking behavior results in a)increased economic activity by promoting efficiency b)lower economic acitivity by diverting resources to less-productive uses c)a more equitable distributionof income and wealth
what is information contained in an in different curve why are such curves (a) downward slopping and b convex to origin? why does total utility increase as the consumer moves to indifferent curve further from the origin why cant indifferent curves..
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