With free entry into Cave Rock at Lake Tahoe Nevada State Pa…
With free entry into Cave Rock at Lake Tahoe Nevada State Park, people park in undesignated areas, crowd the lakeshore, and trash the bathroom facilities. When the park charges an entry fee of $10 per vehicle and $20 per boat launch, fewer people visit, so parking is better, crowds get smaller, and there is less trash. Visitation to the park is _____ with free entry and _____ with the entry fees.
Read DetailsAndrew, a landscaper, has asked his boss for a pay raise. Hi…
Andrew, a landscaper, has asked his boss for a pay raise. His boss is concerned that, if he increases Andrew’s wage, Andrew might work less. In other words, Andrew’s boss is concerned that leisure is a normal good for Andrew and that the:
Read Details(Figure: Market for Pants) The figure shows the domestic mar…
(Figure: Market for Pants) The figure shows the domestic market for pants. According to the figure, if there is international trade in this market, and the world price of a pair of pants is $40, the value of the domestic producer surplus is:
Read DetailsThe streaming service Netflix announced plans to crack down…
The streaming service Netflix announced plans to crack down on customers who share their account password with people who don’t live in the same household. The streaming service is _____, and, without intervention, those who don’t pay for their own accounts _____.
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