1. Can pollution ever make us better off? How do we know? Should we aim to eliminate all pollution? If not, what should our goal be? Defend your answer

2. When thinking about types of goods, what does rivalry mean? What does excludability mean? What are the four categories of goods we can identify using those attributes, and what is an example of a good in each category?

3. Flavor Flav has released a new exercise DVD for his loyal fans. If he charges $20 he expects to sell 10,000 copies; if he charges $30, he expects to sell 8,000 copies. Calculate the elasticity of demand for this product between those two points. Is this demand elastic or inelastic?

Answer rating: 100% (QA)

Responding to your questions 1 Pollution and Our Goals Can pollution ever make us better off Yes in some limited cases Sometimes controlled pollution ... View the full answer