I need question 1,3,5,7,9

Mt. San Jacinto College - Principles of Macroeconomics (Econ201) & Microeconomics (Econ202) Chapter 5. Supply, Demand and Price: Application: Pre-Class and In-Class Activities Packet Name/I.D. Number: Section: Date: Part 1. Discussion Questions and Problems 1. Explain how lower lending standards and lower interest rates can lead to higher house prices. 2. If there were no third parties in medical care, medical care prices would be lower. Do you agree or disagree? Explain your answer. 3. Harvard, Yale, and Princeton all charge relatively high tuition. Still, each uses ACT and SAT scores as admission criteria. Are charging a relatively high tuition and using standardized test scores as admission criteria inconsistent? Explain your answer. 4. Suppose the purchase and sale of marijuana are legalized and the price of marijuana falls. What is the explanation? 5. What do the applications about freeway congestion and 10 a.m. classes have in common? 6. Wilson walks into his economics class ten minutes late because he couldn't find a place to park. Because of his tardiness, he doesn't hear the professor tell the class there will be a quiz at the next session. At the next session, Wilson is unprepared for the quiz and ends up failing it. Might Wilson's failing the quiz have anything to do with the price of parking? 7. University A charges more for a class for which there is high demand than for a class for which there is low demand. University B charges the same for all classes. All other things being equal between the two universities, which university would you prefer to attend? Explain your answer. 8. Consider the theater in which a Broadway play is performed. If tickets for all seats are the same price (say, $70), what economic effect might arise? What is the relationship between the probability of a person being admitted to the college of his choice and the tuition the college charges? 9.Samantha is flying from San Diego, California, to Arlington, Texas, on a commercial airliner. She asks for an aisle seat, but only middle-of-the-row seats are left. Why aren't any aisle seats left? (Hint: The airline charges the same price for an aisle seat as a middle-of-the-row seat.) 10. Speculation on prices leads to gains for the speculator and losses for others. Do you agree or disagree? Explain your