ECN 340 Lecture Notes - Peanut Butter, Holding Hands

83 views2 pages

turquoisewildebeest476

3 Oct 2012

School

Department

Course

Professor

For unlimited access to Class Notes, a Class+ subscription is required.

Document Summary

Sex is simply another service that is wanted and supplied. For most, it is the intensity of the sexual experience that make it so appealing. Most willing to pay higher cost to experience it compared to having a peanut butter sandwich. Interpersonal utility comparisons impossible to do cannot compare peoples pleasure level. Men demand more units of sex as price drops. Prostitutes know this very well: higher price, fewer tricks . Generally, women want less sex, although it depends on cost. Men"s job is to decrease cost of sex and increase quantity demanded. Contraceptives have greatly reduced the cost of sex, therefore sexual activity is up. Higher income groups consume (produce) more sex. For the particular sexual activity, no competition between the two. A person can exchange sex for security, clothes, kindness, marriage, etc. Since supply of sex upward sloping, we need to pay more to get more sex.

Related Questions

Hello, I would like to double check these if questions for True and Falses Questions are correct for Microeconomics! Thank you

T or F

___T___ 1. An inferior good can be demand inelastic but not demand elastic.

___T___ 2. Demand is elastic if price changes by a smaller percent than quantity demanded

___F___ 3. Total utility always decreases as marginal utility decreases.

___T___ 4. The law of diminishing marginal utility cannot be used to make interpersonal utility comparisons.

___F___ 5. If the demand for a product is highly elastic, a price drop may reduce incomes of the producers.

59) 59) Since 1980, there has been a dramatic increase in the number of working mothers. Based on this information alone, we can predict that the market for child care services has experienced a(n) A) increase in supply. B) decrease in demand. C) increase in demand. D) increase in quantity demanded. E) decrease in quantity supplied.

Name a product or service that has experienced, is currently experiencing, or you think may experience an increase or a decrease in demand (NOTE: make sure you understand the difference between the change in demand and the change in quantity demanded â if you confuse the two, you will lose the point for this question). Tell me why demand changed. You can even cite products that are no longer even available.

You need to read other students posts because if another student has already posted the product or service that you want to write about, you will not get points.

Here is an example: There has been a decrease in the demand for CDs. The decrease in demand resulted from new, less expensive, more convenient ways to obtain music â such as iTunes. (Of course, no one can use this example now.)

lavendergiraffe73

ECN 340 Lecture Notes - Peanut Butter, Holding Hands

Document Summary

Get access

Related Documents

ECN 340 Chapter 7: ECN 340 Chapter 7.docx

ECN 340 Lecture Notes - Sexually Transmitted Infection, Peanut Butter, Holding Hands

ECN 340 Lecture Notes - Lecture 3: Peanut Butter, Sexual Intercourse, Holding Hands

Related Questions