MICROECONOMICS REAL LIFE EXAMPLES

Training provided by firms.

Vaccines.

As women consume more education, they're likely to pay more attention to their kids' healthcare, generating positive spillover benefits (better living standards).

Luxotica/Dos Pinos/Standard Oil.

OPEC

Daraprim (that famous cancer drug) was increased by more than 50 times but demand barely changed (except for those who simply couldn't afford it anymore) (https://www.nytimes.com/2015/09/21/business/a-huge-overnight-increase-in-a-drugs-price-raises-protests.html).
Also, a very similar thing happened to EpiPens in 2016.

Corporate tax cuts in 2014 in Australia in order to incentive investment. Or JFK's notorious business tax cuts in 1962 and household tax cuts in 1964 (implemented by LBJ).

Crop/cattle destruction as a way to get rid of the surplus that the government was forced to purchase to protect domestic producers (happens in New Zealand with sheep and in the US with cherries). During the Great Depression, tons of oranges, potatoes, and pig carcasses were deliberately destroyed.

Free Fishing Days in the US => only days when an individual with a license is allowed to fish (varies by state, but usually no more than 5 times per year).

ITQ in New Zealand (tuna) and Kyoto Protocol (emissions trading).

Since 2015, a 5p tax on plastic bags in Scotland reduced their consumption by more than a half and is minimizing negative externalities of consumption.

Soccer match tickets are cheaper for women in Sweden.

Movie tickets

Samsung in South Korea (uses abnormal profit to invest in research and development => actually shifts LRAS => could be used to argue for profit maximization).

Rent controls in NYC (a set maximum on what you can pay for rent), yet people get around it by charging extra for stuff like keys.

Petrobras in Brazil (a monopoly on petroleum). Petroperu, Petro-Canada.

In 2011 in Japan, there was a tsunami and an earthquake that destroyed many factors of production, thus shifting the supply of most goods to the left.

Minimum wage in any country. The EU has a Common Agriculture Policy that imposes price floors on produce.

The Affordable Healthcare Act (Obamacare) provides subsidies to certain low-income groups in order to increase the Americans' access to healthcare. US subsidy on corn and cotton.

Watermelon markets in China.

Airline companies

Shampoo or other toiletries brand.

Jet aircraft market: Airbus and Boeing are the dominant firms.

Nike, Adidas, Puma

Scotland is currently proposing a Minimum Unit Pricing program for alcohol, which would impose a price floor on it in order to reduce the negative externalities and the levels of consumption of this demerit good.

In 2008, H. Chavez imposed price ceilings on food in order to ensure that consumers got enough, yet that caused shortages and smuggling food and hoarding.

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