Explain tragedy of commons-tax incidence-elasticity, Microeconomics

Assignment Help:

1. Explain-

a. Tragedy of commons

b. Free rider problem

c. Diminishing marginal utility

d. Diseconomies of scale

e. Tax incidence

f.  Elasticity

g. Gains from trade

h. Rent- seeking in monopoly

i.  Public goods

2. a. If the price elasticity of supply for corn is 3.12, then is the supply of corn elastic or inelastic?

b. If the cross elasticity of demand between peanut butter and milk is -1.11, then are peanut butter and milk substitutes or complements?

c. The income elasticity of demand for movies in the United States is 3.41. If people's incomes decrease by 1 percent, what is the decrease in the quantity of movies demanded?


Related Discussions:- Explain tragedy of commons-tax incidence-elasticity

INDIFFERENCE CURVES, HOW TO REDUCE SMOKING USING INDIFFERENCE S AND BUDGETL...

HOW TO REDUCE SMOKING USING INDIFFERENCE S AND BUDGETLINE

Miss, explain how scarcity impacts choice 2.expain the three steps process ...

explain how scarcity impacts choice 2.expain the three steps process in economic analysis

Return on machine, a machine cost 18871.00 today. at the end of each year I...

a machine cost 18871.00 today. at the end of each year I own the machine & it gives me returns of 4,948.00 after paying repairs and maintenance. After 6 years, I expect to sell it

Microeconomics, compare the concept of MRTS with the MRS and discuss the si...

compare the concept of MRTS with the MRS and discuss the similarities and difference between them?

Depreciation tax shield, Depreciation T ax Shield The decr...

Depreciation T ax Shield The decrease in corporate income taxes suitable to the deductibility of depreciation from the firm's taxable earnings.  Although depreciat

Individual demand, INDIVIDUAL DEMAND * Price Changes - Using figures...

INDIVIDUAL DEMAND * Price Changes - Using figures developed earlier, the impact of a change in price of food can be shown by using indifference curves.  Effect of Price

Long-run behavior, The Long-Run Behavior of Natural Resource Prices Ob...

The Long-Run Behavior of Natural Resource Prices Observations – Exhaustion of copper has increased by a hundred fold from 1880 through 1998 signifying a large increase in

Theory of supply, how to make attractive assignment on theory of supply

how to make attractive assignment on theory of supply

Feudalism, A type of economy (like in Europe in the Middle Ages) which is p...

A type of economy (like in Europe in the Middle Ages) which is primarily agricultural however productive enough to support a class of merchants andartisans. Feudal societies are co

Write Your Message!

Captcha
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