Yesterday she promised that she would take them to a

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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.

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