Your firm resells airline tickets during the busy summer travel season. Your manager argues that the firm should charge, for the same flight route, a…September 3, 2020
In some cases, the government can intervene in the market when the equilibrium price is too high or low. For example, a price ceiling is a legal maximum price that can be charged in a particular markeSeptember 3, 2020
- Explain the difference between positive and normative economics. Give a real-time example of each that you found in doing some outside research.
- After doing some additional research on your own along with the assigned reading on public goods, answer the following questions:
- What are the two main characteristics of this type of good?
- What is the biggest “problem” with allocating public goods?
- Do you think the government should have a role in allocating public goods, or should goods be privatized?
Here’s a great site that offers definitions and examples of economic terms literally from A to Z; https://tinyurl.com/6rxna6a
- Use concepts from the modular background readings as well as any good quality resources you can find.
- Cite all sources within the text and in a reference list at the end of the paper.
- Length: 4–5 pages double-spaced and typed.