I believe that this is fair. It would be unfair to exclude people from eligibility to live in a “nice” area of town on the basis of their income level.
The tenants in the rent-controlled apartments will continue to pay the same rate even as increasing inflation drives up the monthly rent of surrounding units. Another problem is that the rent-controlled apartments could decrease the value of the other houses and apartments, making the upscale neighborhood less “nice.”
The presence of the reduced-rent condominiums will probably bring new businesses to the area that cater to lower-income consumers. This means that there will be stores that sell goods at cheaper prices than the established stores. Shopping at these stores instead of the higher-end retailers that are likely to dominate the area will allow me to save money.
I believe that economic matters should be delegated to the private sector; that citizens should be the primary owners of a country’s means of production. However, I believe that the government should be responsible for regulating privately-owned companies and enforcing their compliance. Environmental, anti-trust, safety, and other types of regulations protect those who participate in the economic system and ensure the equitability of that system.
No, since the food will just be intercepted by al-Shabab.
The food could have been sent to people who would definitely be able to use it.
Yes, but it should distribute its riches discriminatingly.
The demand for prescription drugs is mostly inelastic.
The pricing strategy for drugs should be based on supply and demand.
The demand for the drug is price inelastic; inequity due to the unaffordability of the drug to middle- or lower-income women; yes, the government should step in and establish price controls, so the drug can be accessible to all women regardless of their ability to pay for it.
The demand elasticity of gasoline is elastic, since the more money a person has, the more likely they will purchase gasoline for the purpose of transportation. For example, a person making $7.50/hour may choose to take the bus instead of drive; but after receiving a raise to $12.50/hour, he or she may choose to drive since it is now affordable.
Two marketable goods that are perfectly inelastic are hygiene products, such as toilet paper, and healthy food, such as bananas. These goods are practically necessary for survival, which is why they are demand inelastic.
DVD rentals and take-out dinners are demand elastic because the more money I have, the more likely I am to spend money on them.
Before the introduction of the Costco surfboard, the demand elasticity for surfboards was inelastic, because due to the high price of surfboards, demand for them was conditional on income. After the introduction of the Costco surfboard, demand for the expensive boards will decrease, increasing their demand elasticity.
