A survey shows an increase in drug use by young people. In theensuing debate, two hypotheses are proposed:Reduced police efforts have increased the availability of drugson the streetCutbacks in education have decreased awareness of the dangersof drug addictionWhat could you use to distinguish between these two explanations?Whether the equilibrium quantity of drugs increased or decreased. If thequantity increased, then it was driven by cutbacks in educationWhether the equilibrium quantity of drugs increased or decreased. If thequantity increased, then it was driven by reduced police efforts.Whether the equilibrium price of drugs increased or decreased. If theprice increased, then it was driven by cutbacks in educationWhether the equilibrium price of drugs increased or decreased. If theprice increased, then it was driven by reduced police effortsThe change in equilibrium price is ambiguous

The correct answer to the above-mentioned question is that the difference between the two…

Answered: A survey shows an increase in drug use…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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The price elasticity of demand for beer among young adults (age 18 to 24) is about 1.30, and the number of highway deaths is roughly proportional to the group’s beer consumption. If a state imposes a beer tax that increases the price of beer by 20%, by how much will the number of highway deaths among young adults decrease?
Bill O'Really of OX News observed that poultry (chicken and turkey) consumption in the US increased dramatically over the 2000 to 2006 period. This he believed was due to the fact that consumers, being more health conscious, switched from red meat to poultry, in an effort to eat healthier foods. Intrigued by these findings, Bill contacted the US Department of Agriculture for additional information. The department provided him with data that yielded two findings. First, there was a 75% decrease in the price of poultry over the period and second, there was widespread adoption of cost reducing innovations in poultry processing. Being a supposedly brilliant journalist, Bill concluded that the demand curve for poultry had shifted to the right. a. Is Bill's conclusion correct or incorrect? Explain your answer using supply and demand diagrams (best to use two diagrams in your answer). ANS:
An economist predicts that, all else equal, a rise in consumer incomes will increase the demand for Uber rides. This prediction assumes that Question 21 options: A) there are many services that are substitutes for Uber Rides B) Uber rides are inferior goods. C) there are many goods that are complementary to Uber Rides D) Uber rides are normal goods.
I'm waiting for the answer desperately It's in environmental economic textbook, kolstad.
Please help me with this question. Its all 1 question.
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A popular brand of decorative clay floor tile is priced at $7 per square until a surge in supply forces the price, for a short time, down to Drag the appropriate curve(s) to show the effect of the price drop. $3. To refer to the graphing tutorial for this question type, please click here. Price ($) 16 15 14 13 12 11 10 9 8 7 6 5 4 3 2 DSR 3 3 S1 DLR Quantity (thousands)
By the 2010s many types of technology became much cheaper due to the popularity of smartphones. Small, high-quality cameras were inexpensive. Also, wifi control units and other electronic components became inexpensive for the first time. A new market emerged for high-quality, home security cameras. People realized the value of these products such as doorbell cameras and motion detection cameras that can also be used as baby monitors. The popularity of delivery services also increased the demand for or security systems to protect deliveries. Soon there were dozens of cameras for sale from different companies. Many offered identical quality and user experience with differences in shape, weatherproofing, and what systems they were compatible with. as Prices have settled around $50 for comparable models. What type of market structure is Example 2? Use at least 2 details from the text in your explanation.
Define Availability of substitutes?
In Brisbane there is a small population of musicians who play the harp. The quantity demanded for a specific student harp, used by music students, when priced at $11,500 is 20 harps. However, the quantity demanded for the same student harp when priced at $17,500 is only 8 harps in Brisbane. 1. All individual student harp players will always have the same willingness to pay for a harp. 2. If the harp differs in price and quantity demanded (ceteris paribus), then a demand schedule can be constructed. 3. A new music university opens in Brisbane where students enrol to study and learn the harp. These additional new players need to be included in the market demand for student harps. Which of the above statements are true: Only 1 is true. Only 2 is true. Both 1 and 2 are true. Both 2 and 3 are true. All three are true.

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