1:07 1 of 1 Assignment 03 Assignment 03 55 ECON 100E Introduction to Economics Fall...

 

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1:07 ☐ 1 of 1 Assignment 03 Assignment 03 55 ECON 100E Introduction to Economics Fall 2023 1. An instructor allows a calculator in exams (midterm and final), but only the simplest calculators are allowed (no functions, no memory, etc., only 4 basic operations and power/root; these sell in stores for $1.00-$1.50). Would you expect the demand for these calculators by the students in this instructor's class to be elastic or inelastic? Explain why. (4) There were 5 empty seats in our classroom during the last week's class. 2. How do these empty seats imply inefficiency? Explain the best you can. (3) 3. Why is this inefficiency not corrected (i.e., why don't we [teachers, college administration, students] do something to make the situation more efficient? (3) 1:07 ☐ 1 of 1 Assignment 03 Assignment 03 55 ECON 100E Introduction to Economics Fall 2023 1. An instructor allows a calculator in exams (midterm and final), but only the simplest calculators are allowed (no functions, no memory, etc., only 4 basic operations and power/root; these sell in stores for $1.00-$1.50). Would you expect the demand for these calculators by the students in this instructor's class to be elastic or inelastic? Explain why. (4) There were 5 empty seats in our classroom during the last week's class. 2. How do these empty seats imply inefficiency? Explain the best you can. (3) 3. Why is this inefficiency not corrected (i.e., why don't we [teachers, college administration, students] do something to make the situation more efficient? (3)

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ECON 100E Assignment 03 Answers 1 Demand for Calculators Elastic In this scenario the demand for the ... View the full answer