Suppose there is soda tax to curb obesity. What should a reduction in the soda tax do to the supply of sodas and to the equilibrium price and quantity? Can you show this graphically?

Suppose that a cylindrical soda can must have a volume of 26 cu in. If the soda company wants to minimize the surface area of the soda can, what should be the ratio of the height of the can to the radius of the can?

Use the four-step process to analyze the impact of the advent of the iPod (or other portable digital music players) on the equilibrium price and quantity of the Sony Walkman (or other portable audio cassette players).

Explain why the following statement is false: “In the goods market, no buyer would be willing to pay more than the equilibrium price.”

Can you propose a policy that would induce the market to supply more rental housing units?

How can you locate the equilibrium point on a demand and supply graph?