Problem 2.1.5
In Exercises 5 to 16, find the distance between the points whose coordinates are given. (6, 4), (-8, 11)
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Chapter 1: The Big Ideas I. Incentives…. a. Definition: Rewards and penalties that motivate behavior. b. Examples: taxes, subsidies, regulation II. Self Interest: Good vs Bad Outcomes a. Good: self-interest aligns with society b. Bad: self-interest fails to align with society i. Incentives are set up to align self-interest with society to produce good results c. Invisible Hand i. Notion that occasionally, self-interest aligns with society and results in good outcomes. 1. Called: “invisible hand” 2. May or may not occur naturally in economies III. Trade-Offs are Everywhere a. Often, attempts to align self-interest
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Chapter 2, Problem 2.1.5 is Solved
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