« previous next »

Author Question: What are ITQs? Where are they used? What will be an ideal ... (Read 61 times)

leilurhhh

  • Hero Member
  • *****
  • Posts: 560
on: Jun 29, 2018
What are ITQs? Where are they used?
 
  What will be an ideal response?

Question 2

Would you expect the cross-price elasticity of demand between ham and turkey to be positive or negative? Why?
 
  What will be an ideal response?


Fayaz00962

  • Sr. Member
  • ****
  • Posts: 330
Reply #1 on: Jun 29, 2018
Answer to Question 1

An ITQ, or individual transferable quota, is a production limit that is assigned to an individual who is free to transfer the quota to someone else. ITQs are used to deal with the problem of commons where producers are hard to monitor and where marginal costs differ across producers.

Answer to Question 2

The cross-price elasticity of demand between ham and turkey should be positive because ham and turkey are substitutes. When the price of ham rises, the demand for turkey increases as well.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

leilurhhh

  • Hero Member
  • *****
  • Posts: 560
Reply #2 on: Jun 29, 2018
Thank you


Fayaz00962

  • Sr. Member
  • ****
  • Posts: 330
Reply #3 on: Jun 29, 2018
No problemo


« previous next »
 

Did you know?

More than one-third of adult Americans are obese. Diseases that kill the largest number of people annually, such as heart disease, cancer, diabetes, stroke, and hypertension, can be attributed to diet.

Did you know?

Most fungi that pathogenically affect humans live in soil. If a person is not healthy, has an open wound, or is immunocompromised, a fungal infection can be very aggressive.

Did you know?

Drugs are in development that may cure asthma and hay fever once and for all. They target leukotrienes, which are known to cause tightening of the air passages in the lungs and increase mucus productions in nasal passages.

Did you know?

In inpatient settings, adverse drug events account for an estimated one in three of all hospital adverse events. They affect approximately 2 million hospital stays every year, and prolong hospital stays by between one and five days.

Did you know?

Studies show that systolic blood pressure can be significantly lowered by taking statins. In fact, the higher the patient's baseline blood pressure, the greater the effect of statins on his or her blood pressure.

The Number of Children Americans Think Are Ideal The Number of Children Americans Think Are Ideal
What are examples of ideal forms? What are examples of ideal forms?
Under ideal conditions, a single cell of the bacterium E. coli would divide every 20 minutes to ... Under ideal conditions, a single cell of the bacterium E. coli would divide every 20 minutes to ...
A very light ideal spring stretches by when it is used to hang a 135-N object. What is the ... A very light ideal spring stretches by when it is used to hang a 135-N object. What is the ...
If CP for an ideal gas is 35.4 J/molK, which of the following is CV for this gas? If CP for an ideal gas is 35.4 J/molK, which of the following is CV for this gas?
For the circuit in Figure 1, assume ideal diodes. The peak inverse voltage is approximately For the circuit in Figure 1, assume ideal diodes. The peak inverse voltage is approximately
Video: Carbohydrate digestion - mouth and stomach & pancreas and small intestine

For a complete list of videos, visit our video library