Homework No. 2
The Application of Elasticity
Principles of Microeconomics
Faulkner State Community College
Fall Semester 2016
1. For each of the following pairs of goods, which good would you expect to have more elastic
demand and why?
Assignment #1 Definition of Economics
The author defines economics as just a group of people dealing with one another as
they go about their lives. This refers to the factors that determine production, distribution, and
consumption of goods and services.
The following project relates to the three Student Learning Outcomes (SLO) as stated in class
syllabus (p.1) and as re-stated before each sub-topic.
Please answer, in detail, each of the following questions as they relat
Louisiana Tax Reform Proposal
Louisiana Governor Bobby Jindal proposed a modification of tax regulations. His goal is to
change the structure of state taxes and base it off of consumption instead of income and
consumption based. Jindal created this propos