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Summary paper - Assignment#3 Juliet Martin People respond...

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Assignment #3 Juliet Martin “People respond to incentives in predictable ways. Incentives are benefits that encourage people to act. When incentives change, people’s choices change.” This principle is self-explanatory. For example, gas prices have been fluctuating over the past few years. When the price began to rise, everyone slowly started debating on driving to various places and taking unnecessary vacations, etc. During this period, more people started using the city bus transportation and riding bikes. It even went to the extent of car dealerships producing and selling hybrid cars such as Ford and Toyota. These cars were rumored to be a great save on gas and to operate more on a battery. Some had to find out for themselves and went out to buy one of these hybrid cars. Now, if you look to your left or right while driving, you are bound to see a hybrid on the road. However, the prices of these cars are not synonymous with the purpose of the car. Yes, it saves on gas, but it is usually higher than your average car due to its different functions. Looking
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