ECO 561T Week 2 Discussion: Competition and the Invisible Hand
Discussion Topic for ECO 561T Week 2 Discussion
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 or your faculty member.
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.
Reply to at least 2 of your classmates or your faculty member. Be constructive and professional.
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