Problem 1: Give a specific example of how you used the marginal decision-making principle to choose between two alternatives.
Problem 2: Give an example of a public good
Problem 3: What is the current minimum wage in the U.S.?
Problem 4: Give an example of cap and trade legislation.
Problem 5: The automobile industry operates in a(n)_____________________ market structure
Problem 6: Give an example of a good with a relatively price elastic demand.
Problem 7: Give an example of a good with a relatively price inelastic demand.
Problem 8: Give an example of 2 goods with a negative cross price elasticity of demand.
Problem 9: Give an example of government intervention in the marketplace.