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Unformatted text preview: y she promised
that she would take them to a movie if they behaved better.
Dave ended up behaving a lot better, but Quentin behaved only
slightly better. Right now she is asking Quentin why his behavior didn’t improve as much as his brother’s.
• What does a concept like “elasticity of supply” have to
do with the twins?
9:10 A.M. Georgia and Tom are sitting on a train
that is traveling from East Hampton, New York, into downtown Manhattan. Georgia is reading an article about taxes
in the newspaper. It seems that the government wants to
place a tax on the production of cigarettes. For every cigarette pack produced, the government wants cigarette
manufacturers to pay a $2 tax. Georgia tells Tom about
the article. “What do you think of that?” she asks. Tom
responds, “I think that tax is going to end up reducing
the supply of cigarettes.”
• Will the tax reduce the supply of cigarettes?
11:03 A.M. Angie owns a small oil company in Texas. She believes the price of a barrel of
crude oil will be higher in three mon...
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This document was uploaded on 01/16/2014.
- Winter '14