AREC 240 assignment 1 fall 2009

AREC 240 assignment 1 fall 2009 - AREC 240 Fall 2009...

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

View Full Document Right Arrow Icon
AREC 240 Fall 2009 Assignment #1 Due: Tuesday, September 15 at start of lecture 1. In the following cases, there is a good/service and a description of an event that may influence the demand for that good. Explain how and why the demand curve shifts, if it does in fact shift. Draw the old and the new demand curves. Your answer is not complete without an explanation. a) Desk top computers. EPA institutes a $20/pound fee for discarding used electronic equipment b) Toyota Prius. The federal government pays a bonus for trading in clunkers for fuel efficient cars. c) Parking permits on the UMD campus. Price of gas doubles. d) High end BMS’s and Mercedes. The proposed health care plan imposes a 10 percent increase in the tax rate for households with incomes above $500,000. e) Iphones. Sprint increases the monthly rates for Palm Pre. 2. In the following cases, there is a good/service and a description of an event that may influence the supply of that good. Explain how and why the supply curve shifts, if it does in fact shift. Draw the old and the new supply curves. Your answer is not complete without an explanation.
Background image of page 1

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

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 10/05/2009 for the course AREC 240 taught by Professor Staff during the Fall '08 term at Maryland.

Page1 / 3

AREC 240 assignment 1 fall 2009 - AREC 240 Fall 2009...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online