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    Economic Systems

    Pretest data

    Neilsen Media Research wants to pretest a questionnaire to be mailed to several thousand viewers. One question involves the ranking of male and female college students with respect to the popularity of programs. The composite rankings of a small group of college students are: a) Draw a scatter diagram. Let the ran

    Effects of compensation policy

    Communities are frequently concerned about whether police are vigilant in carrying out their responsibilities. Several communities have experimented with incentive compensation for police. In particular, some cities have paid members of the police force based on the number of arrests that they personally make. Discuss the lik

    Pareto efficiency

    What is Pareto efficiency? Why do economists use this criterion for comparing alternative economic systems?

    Price determination

    In order to use autos more efficiently, short term rentals of cars has been proposed for urban area use. Cars will be available at popular origins and destinations. One drives the car from one spot to another where another person may subsequently rent the car and so on. The proposal has recently been run as a demonstration proje