AEM 2500 Homework 2 fall 2010 f

AEM 2500 Homework 2 fall 2010 f - AEM 2500: Environmental...

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AEM 2500: Environmental and Resource Economics Homework 2: Markets and Efficiency Distributed: Sept. 10, 2010; due at the beginning of class Sept. 17, 2010 in Red Box outside Warren 102 (Note: If you are having problems with some of the answers, you are advised to peruse the relevant gobbets on the course web site) All graphs should be clearly labeled and all other work legible. If we are unable to interpret your work, you will receive a lower score. 1. (3 Points) For each of the following markets , indicate whether the stated change causes a shift in the supply curve or a shift in the demand curve. Why? (Note: If you think that multiple shifts or movements could occur, select the one which would happen first ) a. Minivans : People decide to have more children. b. Visits to Yellowstone National Park : the National Park Service closes Grand Canyon National Park. c. Oil : War breaks out in the middle east. e.
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AEM 2500 Homework 2 fall 2010 f - AEM 2500: Environmental...

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