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The free-rider concept occurs when a person enjoys the benefits of a good or service without paying for it. Music files are nonrival and effectively nonexcludable, thus creating a free-rider problem. The courts address this problem by enforcing copyright laws restricting the legal right to copy music files, although the cost of enforcing these property rights is high. Another solution to this problem may be to place a tax on MP3 players and distribute the revenues to performers and recording companies, but this approach doesn’t provide an incentive to limit illegal file sharing. Post your discussion regarding the best solutions to resolve this problem
Do you concur that the best solution is for the courts to enforce property rights, and for the recording companies to pursue illegal music file sharers by suing for large penalties? Or would you rather see a tax placed on MP3 players where the tax revenues may be distributed to the music performers and recording companies? Or do you have a proposal of your own which addresses this problem?
Economists usually do not favor subsidies on specific products or in-kind payments to help low income people.
Explain why purchasing power parity measures of income levels tend to show smaller differences between poor and rich country
Suppose that the supply curve in question 1 above product is given by P=12+(2/3)Q where P is in thousands of dollars per auto and quantity is in millions of cars per year. What other things are held constant when one moves along a supply curve?
Demonstrates content knowledge through a full and complete original posting in response to the board topic. Two (minimum) or more (exceeding expectations) complete and thoughtful responses to other workshop participants that demonstrate addition of ..
Assume that each firm is free to set its production level, but each firm can communicate (via the business press) what they plan to do first. Using an economic model, show that it might be difficult to sustain a cooperative (high-profit) outcome. Wha..
Suppose the demand and supply of chickens is given by: Graph the demand and supply curves and determine the equilibrium price and quantity. Suppose a quota of 4000 chickens in imposed. What will be the new equilibrium price? What is the loss to consu..
Debate this statement: “The UCC should require the same degree of definiteness of terms, especially with respect to price and quantity, as contract law does.” Remember to support your opinions with the law.
The changes in the macroeconomic indicators affect the economic decisions of the 3 economic agents (household, firms, and government). Assume you are a business owner (manager). How do you use macroeconomic indicators in your business plan and strate..
In a city, the Taxi industry is regulated by the Government Taxi Authority. A company can only supply taxi services, if it is issued a licence by the Government taxi Authority. Explain why the Government Taxi Authority has an incentive to only issue ..
(i) Construct a payoff matrix for this game. (ii) Determine whether each firm has a dominant strategy and, if it does, identify the strategy. (iii) Determine the optimal strategy for each firm.
Explain the unemployment rate in Tappania is higher now than it has been in 50 years. Can both of these statements be true at the same time.
Borrow from the nation with the lower nominal interest rate, invest in the nation with the higher nominal interest rate and profit from the interest-rate differential.
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