homework 3 - EC 142 3 Homework Chapter 4 Q 4 7 9 10 Q#4...

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EC 1423 HomeworkChapter 4 Q # 4, 7, 9, 10Q #4: What effect would a rule stating that university students must live in university dormitories have on the price elasticity of demand for dormitory space? What impact might this in turn have on room rates?
Q #7: You are chairperson of a state tax commission responsible for establishing a program to raise new revenue through excise taxes. Why would elasticity of demand be important to you in determining the products on which the taxes should be levied?

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