Question Description
I’m working on a business multi-part question and need guidance to help me learn.
In your own words, what is utility? Can utility be measured? Can you measure your own utility? Can someone else measure your utility? Why or why not? Can social welfare be measured by “adding up” peoples’ utilities? Why or why not? If not by using utility, how can policy makers estimate the welfare of government policies?
2. Respond to the following prompts in a post with a minimum of 200 words
Recently there has been discussion in the news about taxing junk food (soft drinks, for example) in an effort to reduce the incidence of obesity in the U.S. Do you think the demand for junk food is elastic or inelastic with respect to price?
Based on your knowledge of the price elasticity of demand, do you think the deadweight loss of a soda/junk-food tax would be relatively large or relatively small? Why? Do you think taxing junk food would be a good idea? Based on your analysis, would it really help reduce the number of obese people in the United States? Explain.
Cornell University Elasticity of Demand Questions
Tips in writing a perfect essay
Writing a perfect essay requires careful planning, research, and attention to detail. Here are some tips to help you craft a great essay:
Cornell University Elasticity of Demand Questions
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- Start with a clear thesis statement that states your main argument.
- Use evidence and examples to support your thesis statement.
- Create an outline to organize your thoughts and ensure a logical flow of ideas.
- Use clear and concise language, avoiding unnecessary jargon or complex sentence structures.
- Edit and proofread your essay carefully for grammar, spelling, and punctuation errors.
- Take breaks and come back to your essay with fresh eyes to ensure you haven’t overlooked anything.
By following these tips, you can write a well-structured, well-researched, and compelling essay.
Cornell University Elasticity of Demand Questions
