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Economics Lecture Two (view source)

Revision as of 22:50, August 17, 2009

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→‎Assignment: $3 -> $2 to improve problem
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(A) How many "obstructed view" bleacher seats did the New York Yankees build, based on the above data?
 
(A) How many "obstructed view" bleacher seats did the New York Yankees build, based on the above data?
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<br>(B) Suppose the City of New York passed a law for a maximum price (price control) of $3 per "obstructed view" bleacher ticket.  Will the obstructed-view seats sell out under this law, and will people probably have to stand in long lines in order to buy them?  Would you oppose or support such a law, and why?
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<br>(B) Suppose the City of New York passed a law for a maximum price (price control) of $2 per "obstructed view" bleacher ticket.  Will the obstructed-view seats sell out under this law, and will people probably have to stand in long lines in order to buy them?  Would you oppose or support such a law, and why?
    
6.  "Time is money."  Explain.
 
6.  "Time is money."  Explain.
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