Title: Principles of Economics<\/p>\n
<\/p>\n
Suggest how an economist would approach the problem of alcohol abuse. Provide 2 possible solutions to this problem. Include the 4 elements of the economic way of thinking in your analysis: 1. Use Assumptions to Simplify, 2. Isolate Variables, (ceteis paribus), 3. Think at the Margin and 4. Rational People Respond to Incentives.<\/p>\n
<\/p>\n
Analyze hgow prescription drugs affect the demand and supply of other products and services in this country (US).<\/p>\n
Formulate a reason why the elasticity of supply is an important consideration when analyzing the impact of a shift in demand. Include at least 1 example in EACH scenario.<\/p>\n
<\/p>\n
Provide 2 examples of increasing-cost industries in Ohio and propose why they would have a postively sloped supply curve. (healthcare is an increasing cost in Ohio, use Ohio State University Hospital).<\/p>\n
Suggest how under certain condtions a perfectly competitive market is economically efficent.<\/p>\n
Use at least 3 peer reviewed references from US, Canada or England.<\/p>\n
Use APA format, Times New Roman font, double spaced with Title Page, Introduction, body, Conclusions and Reference page.<\/p>\n
Due: February 18, 2013<\/p>\n<\/div>\n \n
Title: Principles of Economics Suggest how an economist would approach the problem of alcohol abuse. Provide 2 possible solutions to this problem. Include the 4 [\u2026]<\/span><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"yoast_head":"\n