Question

a. Create an original example to demonstrate how an individual or firm acting out of self-interest (seeking profits by offering goods or services in economic markets) must benefit consumers – even if they do not care about them - more than the competition in order to maximize revenues. Example: McDonald’s® campaign to “supersize” fries.
b. What would happen to the supply and demand of Super Bowl tickets if the government mandated that no more than $20 a ticket could be charged? What would happen if a law passed dictating that kindergarten teachers could make no less than $100,000 per year?



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  • CreatedSeptember 19, 2013
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