FOLLOW THESE INSTRUCTIONS! Submit electronically via email as a single PDF document (NOT SEPARATE PDF DOCUMENTS) and do not use OneDrive, Google Docs, Dropbox, etc. In addition, make sure that your responses are provided neatly and clearly. If you fail to follow these instructions, then your exam will not be evaluated.
SHORT ANSWER SECTION
The medication Ozempic is a drug designed to treat type 2 diabetes. Not long after its FDAapproved release, this medication was found to be an effective weight-loss drug. Explain in detail how the market for Ozempic theoretically responded to this finding.
Explain why clean air is a public good, but the Interstate highways around the Twin Cities (35E, 35W,94,494,694, and 394) are not.
What is meant by tax equity in economics? Explain.
Explain why the low-skill labour market is an example of a Perfectly Competitive market environment.
How do we know that imperfectly competitive businesses price their products in the own-price elastic regions of their respective market demands? Explain.
ANALYTICAL SECTION
An issue college students always seem to face is affordable housing. In some
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