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1.) Recently, the Obama administration proposed a $1.00 per unit (pack) excise tax on cigarettes (which would be imposed legally or statutorily on cigarettes sellers). Some news reports have suggested that the proposed tax would increase cigarettes prices by $1.00 per pack and be paid by smokers (cigarette buyers). Using (separate) competitive supply and demand diagrams of the cigarettes market carefully show and explain TWO extreme demand and supply conditions under which these news reports would be true.
2.)Suppose the economy produces only two goods: consumer goods and capital goods (K). Also suppose the economy is operating at full employment. Finally, suppose consumer goods are subject to legal price controls (price ceiling). Use a PPF to show the economy'soutput combination of C and K goods with price controls versus the economy's output combination without price controls. Explain your reasoning.
1. consider the problem of maximizing uc t subject to pc wl wt y where c is consumption leisure time t is the total
Canada, Mexico, and the United States have a free trade zone. What would be some of the advantages of having a common currency as well? The disadvantages? Do you think it would be a good idea? Why or why not?
According to the aggregate expenditure function, as the price level decreases, it is reasonable to expect that the automonos and induced expenditures increase, only the autonomous expenditures increase or else.
Discuss and explain the major barriers to entry into a industry. Describe how each barrier can foster monopoly or oligopoly.
The private marginal benefit for commodity X is given by 10 - X where X is the number of units consumed. The private marginal cost of producing X is constant at $5. For each unit of X produced, an external cost of $2 is imposed on members of socie..
The Principal-Agent Problem: You are hired as a management consultant to provide recommendations on how to stimulate productivity of the manufacturing firm that produces Printer Cartridges. Your 50% of the variable salary (consulting fee) is direc..
Use the following outline to make a 6-8 page paper on Israel'seconomy from a cross cultural prospective.make it astraightthrough essay it does not need to beusing the outline titles for each section
Traditionally, how have estimated labour supply elasticities differed between men and women? How can economic theory explain this? Outline the relevant empirical evidence from the more recent literature? No more than 1200 words.
Suppose an economy of two firms and two consumers. The two firms pollute. Firm 1 has a marginal savings function of MS1(e) = 5-e where e is the quantity of emissions from the firm.
Which of the following is NOT a condition for price discrimination? Different groups of consumers should be charged differing prices for the same product. The firm's demand curve should be downward sloping.
Which country has a comparative advantage in producing fish? Explain why. Suppose that trade takes place between Kiribati and Tuvalu. Which good will Kiribati import from Tuvalu? Explain why.
for the following demand function.for values of m gt 1.a. obtain income elasticity of demand. plot the engel curve for
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