The U.S. Department of Agriculture’s (USDA’s) minimum general recommendation is five servings of fruits and vegetables a day. Jetter et al. (2004) estimated that, if consumers followed that advice, the equilibrium price and quantity of most fruits and vegetables would increase substantially. For example, the price of salad would rise 7.2%, output would increase 3.5%, […]
Although 23 states barred the self-service sale of gasoline in 1968, most removed the bans by the mid1970s. By 1992, self-service outlets sold nearly 80% of all U.S. gas, and only New Jersey and Oregon continued to ban self-service sales. Using predicted values for self-service sales for New Jersey and Oregon, Johnson, and Romeo (2000) […]
There are many possible ways to limit the number of cabs in a city. The most common method is an explicit quota using a medallion that is kept forever and can be resold. One alternative is to charge a high license fee each year, which is equivalent to the city’s issuing a medallion or license […]
Google, Yahoo, and other Internet search companies charge advertisers for each click on their ads (which sends the browser to the advertiser’s Web site). Per click advertising fees present an opportunity for “click fraud,” an industry term describing someone (say, a rival firm or a hacker) clicking on a Web search ad with ill intent. […]
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