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hw7 - PADP 8670 Fertig Homework 7 Due Fall 2011 UGA 1...

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Unformatted text preview: PADP 8670 Fertig Homework 7 Due November 14, 2011 Fall 2011 UGA 1. Suppose that Congress increases the minimum wage to $10 per hour. Does the change in the number of employed workers due to this policy change depend on the elasticity of demand for labor, the elasticity of supply, or both? Show graphically. 2. Wastewater treatment is the process of removing contaminants from wastewater and household sewage to provide a safe output (environmentally and in terms of public health) for disposal or reuse. Wastewater treatment is a public good because no one can be excluded from enjoying the benefits of safe wastewater and no one can be forced to pay to have their wastewater treated (without government regulations). Discuss whether the free-rider problem of wastewater treatment would be a good candidate for private contracting (with public financing), or if public provision is necessary. ...
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