Chapter 1 Homework Questions.docx

Chapter 1 Homework Questions.docx - Thedamagetopeoples' :...

Info icon This preview shows pages 1–2. Sign up to view the full content.

The damage to peoples' health and the environment from the meltdown of a nuclear  power plant is an example of market failure caused by:  actions that have side effects  that aren't properly taken into account by the market. True or False: One of the causes of a recession is when the economy is capable of  producing more goods and services than people want to buy. True Ed is taking off from work for 5 hours this afternoon and going to a baseball game. The  ticket to the game costs $20 and it costs $15 to park at the stadium. Ed earns $10 an  hour at his job. Ed's opportunity cost of going to the ball game is: $85 A computer manufacturer slashed prices of its products following a competitor's  move. Most likely the competitor's move involved  _____  in prices so that the  market moved _____ the equilibrium   a reduction; towards
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern