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Economics 13th Edition by James Gwartney, Richard Stroup, Russell Sobel, David Macpherson
Edition 13ISBN: 9780538754279Economics 13th Edition by James Gwartney, Richard Stroup, Russell Sobel, David Macpherson
Edition 13ISBN: 9780538754279 Exercise 2
A restaurant offers an "all you can eat" lunch buffet for $10. Shawn has already eaten three servings, and is trying to decide whether to go back for a fourth. Describe how Shawn can use marginal analysis to make his decision.
Explanation
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Government policies that are in the interest of public are always supported by its citizens. Here in the example given to us about use of more safety measures in cars for life security of drivers is indeed a good initiative. However, many people will not be able to buy these cars because of the high cost of the cars. Major portion of population will not be able to afford buying it. They would instead prefer driving cautiously with less safety feature cars.
The drivers might take driving for granted and become less responsible as far as road safety is concerned with a view that car safety features would help them in case of emergencies.
The millions of dollars spent by consumers on air bags can definitely be used elsewhere also like health insurance plans, education plans and so on.
The drivers might take driving for granted and become less responsible as far as road safety is concerned with a view that car safety features would help them in case of emergencies.
The millions of dollars spent by consumers on air bags can definitely be used elsewhere also like health insurance plans, education plans and so on.
Economics 13th Edition by James Gwartney, Richard Stroup, Russell Sobel, David Macpherson
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