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ECO 561 Week 2 Discussion Competition and the Invisible Hand New

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ECO 561 Week 2 Discussion Competition and the Invisible Hand New

 

ECO 561 Week 2 Discussion Competition and the Invisible Hand

Post a total of 3 substantive responses over 2 separate days for full participation. This includes your initial post and 2 replies to other students.  

Due Thursday 

Respond to the following in a minimum of 175 words:

•           Read the following statement and discuss if you agree or disagree, and your rationale: If the demand of illegal drugs is inelastic, increased arrests of illegal-drug sellers will increase total expenditures on illegal drugs.

•           Discuss at least 2 reasons for the change in this scenario: Early suppliers of more fuel-efficient cars were able to charge premium prices for them, but that ability faded as other suppliers adopted similar technologies.

Due Monday 

Reply to at least 2 of your classmates. Be constructive and professional in your responses.

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