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Suppose the graph on the next page depicts the demand for football tic k ets at Grand University.
(a) What is total revenue at the price of $24? $
(b) If the price drops to $12, how many tickets would consumers purchase?
(c) What is total revenue at that point? $
(d) If the team has a winning streak and the price is still $24, at what point do we end up?
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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Read the rules of the game, the overview and the almanac for the Development Game "Settlers of Catan"
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