Explain tragedy of commons-tax incidence-elasticity, Microeconomics

1. Explain-

a. Tragedy of commons

b. Free rider problem

c. Diminishing marginal utility

d. Diseconomies of scale

e. Tax incidence

f.  Elasticity

g. Gains from trade

h. Rent- seeking in monopoly

i.  Public goods

2. a. If the price elasticity of supply for corn is 3.12, then is the supply of corn elastic or inelastic?

b. If the cross elasticity of demand between peanut butter and milk is -1.11, then are peanut butter and milk substitutes or complements?

c. The income elasticity of demand for movies in the United States is 3.41. If people's incomes decrease by 1 percent, what is the decrease in the quantity of movies demanded?

Posted Date: 4/5/2013 5:59:40 AM | Location : United States







Related Discussions:- Explain tragedy of commons-tax incidence-elasticity, Assignment Help, Ask Question on Explain tragedy of commons-tax incidence-elasticity, Get Answer, Expert's Help, Explain tragedy of commons-tax incidence-elasticity Discussions

Write discussion on Explain tragedy of commons-tax incidence-elasticity
Your posts are moderated
Related Questions

Perfectly Competitive Markets * Characteristics of Perfectly Competitive Markets  1. Price taking  2. Product homogeneity  3. Free entry and exit * Price Taking


Why is it considered well to bring all BOP's to zero?   If BOP of any country is zero, it reflects that the present account of that country has sufficient balance to meet the n

What are the possible advantages of free trade? Firms a)  Specialisation and enhanced use of comparative advantage b)  Possibility of advantages of scale c)  Spread

WORLD BANK: The World Bank group is a partner in opening markets and strengthening economies. Its goal is to improve the quality of life and expand prosperity for people every

oxidation state of f block elements

explain 6 factors that determine volume of production

1. Consider a model economy with a production function Y = K 0.2 (EL) 0.8 , where K is capital stock, L is labor input, and Y is output. The savings rate (s), which is define

Q. Explain Nominal GDP? Nominal GDP: Nominal gross domestic product measures total value of all the services and goods produced and traded for money in the formal economy, eval