In which of these scenarios can government intervention improve outcomes beyond what the market could provide? Use class materials as your reference. Scenario A: House prices in a given area go very high due to skyrocketing demand for the area. Scenario B: Cigarette smokers get lung cancer from smoking cigarettes. Scenario C: Used car salesmen are able to sell cars with flaws that buyers can't identify for inflated prices. Scenario D: Fast food restaurants provide junk food to people who want to buy it. Scenario A Scenario B Scenario D Scenario C

Question 30 When individuals do not have to pay for health care, then: O the equilibrium quantity of health care decreases o the demand of health care increases O the demand of health care decreases O the equilibrium price of health care decreases • Previous Saving f8 fg fio

Governments generally want people to get immunised against highly contagious viruses suchas COVID-19. Nonetheless many people refuse to take the vaccination jab, because theyoverestimate the likelihood of side effects, or because they are complacent about gettinginfected or the severity of symptoms they might experience. They also might not care orunderstand that their immunity protects others. Use the theories of market failure andgovernment intervention to analyse the motives of government, the anti-vax phenomenonand their consequences. What, if anything should government do to make more people getvaccinated? What would be the problems with such interventions?

Whether a certain criterion is determinant or not is independent of the situation in which a product is consumed. True False   In the context of disposing of consumer refuse, recycling cuts down on garbage while providing raw materials for other new products. True False   Which of the following is a fundamental emotion evoked by positive, anticipatory appraisals that signal uncertainty about a positive outcome?   a. Hope   b. Confusion   c. Surprise   d. Pride     Which of the following best describes chronic, repetitive purchasing behaviors that are in response to negative events or feelings?   a. Addictive consumption   b. Impulsive purchasing   c. Window shopping   d. Compulsive buying       Retaliatory revenge is when a consumer yells insults and makes a public scene in an effort to harm the business. True False

cite example where the marketeconomy provides low -priced goods ans sevicesfor lower-income individuals and does so profitably, think of specific examples in the followinfg areas: hotels, air travel, restaurant, clothing, groceries, derinks, entertainment, and vacations.

Explain why choices you made during the Covid-19 pandemic were in your self-interest. Choices you made during the Covid-19 pandemic were in your self-interest if your choices O A. cost less than your income B. didn't harm you C. also benefited the social interest OD. were the best available for you Why might your choices not have been in the social interest? Your choices might not have been in the social interest if *** OA. your choices were rational B. you made your choices at the margin OC. your choices inflict a cost on other people OD. your choices were also in the self-interest

Exercise 2. 1. How could they do that! They abducted Speedy, your favorite tortoise! They asked for $1,000 in unmarked bills and threatened to kill Speedy if you don't pay. Call the tortoise-napper Mr. T. Let the possible outcomes be as follows: o, you don't pay and speedy is released 02: you pay $1,000 and speedy is released 03: you don't pay and speedy is killed 04: you pay $1,000 and speedy is killed You are attached to Speedy and would be willing to pay $1,000 to get it back. However, you also like your money and you prefer not to pay, conditional on the two separate events "Speedy is released" and "Speedy is killed": your ranking of the outcomes is 0₁ > 04. On the other hand, you you you 03 you are not quite sure of what Mr. T's ranking is. (a) Suppose first that Mr T has communicated that he wants you to go to Central Park tomorrow at 10:00am and leave the money in a garbage can; he also said that, two miles to the East and at the exact same time, he will free Speedy in front of…

Draw a graph showing how demand for medical care changes under health insurance where the insurance policy pays a % of costs. What happens to demand elasticity? Amount purchased at any price? What does this say about the effect of health insurance on individual vs. social “perceptions” of health care cost and benefit?

For each of the cases​ below, describe the type of entry barrier that appears to be most relevant. Which of the following describes the type of entry barrier faced for a patented blood pressure​ medication?     A. There is a natural entry barrier for a patented blood pressure medication because entry into the market has been limited through government action.   B. There is a created entry barrier for a patented blood pressure medication because entry into the market has been limited through limited access to key natural resources.   C. There is a created entry barrier for a patented blood pressure medication because entry into the market has been limited through government action.   D. There is a natural entry barrier for a patented blood pressure medication because entry into the market has been limited through price cutting.

Consider the market for used cars in Citrustown. There are 300 used cars for sale. Suppose that half of used cars are lemons (in other words, they are of poor quality) and the sellers of lemons are each willing to sell thelr car for $800. Suppose that half of used cars are plums (in other words, they are of good quality) and the sellers of plums are each willing to sell their car for $7,000. Buyers are willing to pay $7,500 for a plum and $1,000 for a lemon. Buyers know that half of the used cars are lemons, and half are plums, but they do not know which individual cars are lemons or plums. a) What is the equilibrium price of used cars in Citrustown? In equilibrium, which used cars will be bought and sold? Defend your answer. b) Now suppose that the Acme Company will inspect a car for a fee of $150. After an inspection, Acme will give the owner a certificate that says whether the car is good quality or poor quality. Acme is completely trustworthy; if an owner has a certificate from…