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A. After taxes are imposed, would producer and consumer surplus rise or decline? Need to explain this using appropriate economic concepts and theory.
B. Suppose you are analyzing the market for hamburger, and the market price of hamburger rises due to an increase in production cost. Would this event increase or decrease consumer surplus? Need to explain this using appropriate economic concepts and theory.
A company deposits $2000 in a bank at the end of every year for ten years. The company makes no deposits during the subsequent five years. If the bank pays 18 percent interest, how much would be in the account at the end of 15 years?
Identify a firm for each of these market structures and explain why each firm belongs in the market structure identified.
What is the law of supply, and what are the factors that cause shifts in supply? What is the law of demand and why is it important?
background information about the case study why the forces of supply and demand did not result in efficient operations
1. find an article online illustrating a change in demand or supply in some market.2. analyze the situation using
A series of monthly cash flows is deposited into an account that earns 12% nominal interest compounded monthly. Each monthly deposit is equal to $2100.
In a situation in which a gift certificate leads a consumer to purchase a greater quantity of an inferior good than he or she would consume if given a cash gift of equal value. Is this always the case. Explain.
The following graph represents the situation of Karl's Kumquats, a kumquat grower. How much profit is Karl earning? Does the current situation of Karl's firm illustrate productive efficiency or allocative efficiency? If so, briefly explain how.
The presumption of efficiency for capitalism is based on the model of perfect competition. Explain the assumptions underlying the model of perfect competition.
the individual demand for a slice of pizza is given by qd 6 - p. assume the marginal cost of a slice of pizza is
Assuming the beer industry is perfectly competitive, what output would be produced by the firm in long-run equilibrium? What would be the long-run equilibrium price? How many firms will be in the industry in long-run equilibrium
Who is considering expanding sales in Asia. Your market research has identified the market potential in Malaysia, Philippines, and Singapore as described next.
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