Q1 . [50]. An econometrician was tasked to estimate the price elasticities of goods and services demanded in New Orleans, Louisiana, and was asked to present the findings to the next City Council Meeting. The results are reported in the table below. Column 1 shows the goods and services and Column 2 displays the estimated elasticities. Goods and Services Price Elasticit Food -0 .21 Medical services _ -0.18 Houno Rental -0.18 Owner occu-ied -1.2C]| Electricit -1.14 Automobiles -1.2O| Gasoline Beer Wine Mari'uana Cioarettes Abortions Transatlantic air travel Imports Money Insulin Assume Honorable Mayor LaToya Cantrell invites you to present your research at the NOLA City Council meeting in front ofa panel of Economists and Public Policy scholars and practitioners, share your findings in a narrative form of what you will propose in light of Microeconomics for Public Policy for the City of New Orleans Council to vote on in order for this city to raise revenue to pay for the Youth Summer Camp. 02. [50]. The tragedy of the commons is poetry and symbolism, which culminates in the theorizing of common goods and open-access economics. The political economist at Oxford William Forster Lloyd lamented the recurring devastation of pastures in England around 1832. In defense of Government, James Madison said in 1788 in the Federalist No.51 that "if men were angels, no Government would be necessary..." Jeremy Bentham (1748-1832] was the model of the Enlightenment mind with his principle of the greatness happiness where public policy should be driven not by the interests of the crown, the bourgeoisie, or clergy but by the interests of all people. One pacific island disappears as oceans rise, that is, Kiribati and Tuvalu are nearly gone and