Ecoc204 week 2

rhoemo
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Two discussions, no word count but APA is required.

 

Discussion 1

Analyze the determinants of the price elasticity of demand and determine if each of the following products  are elastic or inelastic: 

bottled water

toothpaste

cookie dough ice cream

fresh green beans

gasoline

 

In your analysis, please make sure to explain your reasoning and relate your answers to the characteristics of the determinants of the price elasticity of demand.

 

 

Discussion 2

 

Explain the difference between a positive and negative externality. In your analysis, make sure to provide an example of each type of externality. Why does the government need to get involved with externalities to bring about market efficiency? What  solutions need to be provided for your examples?

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