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The U.S. government's focus on supply reduction efforts in its "war on drugs" has been relatively unsuccessful at addressing illegal drug use. Some economists believe that a successful anti-drug program must concentrate on reducing demand; for example, through drug education and voluntary treatment programs for addicts.
Suppose the price elasticity of demand for cocaine is -0.5. What will happen to the equilibrium price, quantity, and total revenue from cocaine sales if the government succeeds in its efforts to reduce demand? What is likely to happen to the incentive to sell cocaine?
Suppose the government continues to concentrate its efforts on supply reduction and is able to reduce the supply of cocaine. As a result of the reduction in supply the price of cocaine increases by 25 percent. If the price elasticity of demand is -0.5, what is likely to happen to the incentive to sell cocaine?
Based on your answers, explain why one approach might be preferred over the other.
Discuss the ethical implications of ADR between parties that are unequal in bargaining power, generally a business vs. consumer.
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Until Chinese officials crack down on intellectual property theft, there is little recourse for companies manufacturing there.
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What is the booking limit for the discount rooms? - Find the optimal protection level for full-price rooms.- Does the optimal protection level increase, decrease, or remain the same?
Research and describe a real-world implementation of balanced score card. Discuss how BCS is used for sustaining performance as described in this chapter.
Addresses the importance of quality management and measurement within the global context. Construct control charts to compare global operational processes of the chosen organizations
1. Brief introduction on the business. 2. Which reward system is implemented in the organization and why?
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Describe the difference between employee training and employee development. Consider the Management by Inspiration video; explain how individual-centered career planning supports the organization's talent management. How did this impact or not im..
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