Here are four economic enigmas.
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How can we explain economic enigmas?
Here are four economic enigmas.
•Why do economy seats on airplanes cost different amounts?
•Why do people pay more for name-brand products when there are generic brands of the same product available for less?
•Why do police officers get paid so much less than professional baseball players?
•Why does a five-day Disneyland pass cost only 2.5 times what a one-day pass costs?
Choose one of these economic enigmas, or think of one that you have observed in your own life. Follow these steps to apply an economic way of thinking to help explain your enigma.
1. Write your economic enigma then list any economic principles that help explain your enigma.
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How can we explain economic enigmas?
Here are four economic enigmas.
Here are four economic enigmas.
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