Determining hypothetical supply and demand schedules
Develop hypothetical supply and demand schedules for your good or service. Plot the schedules onto your graph and label the curves with D for demand and S for supply.
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Eplain why a system of marketable pollution permits leads to less costly pollution abatement and a higher concentration of polluted areas than a command-and-control system.
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Identify and discuss the IS-LM framework (determination of income and the interest rate) and the equivalent AD-AS framework (determination of price level and income) and how changes in equilibrium occur as a result of changes in fiscal and moneta
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In each of the following cases, do you think the price elasticity of supply is perfectly elastic, perfectly inelastic, elastic, or inelastic. Explain using a diagram.
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