Answer to Question #70224 in Microeconomics for Sara Haile

Question #70224
1. What role do incentives play in each of the following situations? a. You learn that you can resell a ticket to next week’s football game for twice what you paid. b. A provincial government announces a “sales tax holiday” for back-to-school shopping during one week in August.
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Expert's answer
2017-09-25T09:50:06-0400
Answer a: In this situation I will tend to resell ticket next week because my wealth will increase without any efforts

Answer b: "Sales tax holiday” make products cheaper, so quantity demanded will increase.

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