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The demand curve for a good is given by the equation P = 200 - 1/4 Q and the supply curve is given by the equation P = 50 + 1/2 Q, where P represents the price of the good (measured in dollars per unit) and Q represents the quantity of the good (measured in units per week).
If the government imposes a sales tax of $8 per unit on this good. Find the new formula for the demand curve, the change in equilibrium quantity, the post-tax price received by suppliers, and the post-tax price paid by buyers. Illustrate graphically as well.
Make up a numerical example to illustrate. Use the Law of Demand to explain why all consumers must receive a surplus whenever they purchase
How do you think economic relates to you in your own life an example
On June 5, 2003, the European Central bank acted to decrease the short-term interest rate in Europe by half a percentage point, to 2 percent by increasing the money supply through open market operations. What effect did the bank hope the action (of c..
Given two countries (A and B) and two goods (X and Y) model with identical endowments: Draw the PPF for Country A that displays increasing opportunity costs and also shows that country A that displays increasing opportunity costs and also shows that ..
1. What Principal of Economics suggests that a smaller Company is More Efficient?
In the Malthusian model, suppose that there is technological advance that reduces death rates (which in turn increases the population growth rate.) using diagrams, determine the effects of this in the long-run steady state and explain your results.
How to use a single line linux command line in shell to print the following information?
In the long run, an increase in the money supply
The demand curve and supply curve for one-year discount bonds with a face value of $1,000 are represented by the following equations: Bd : Price = -0.6 Quantity + 1140 Bs : Price = Quantity + 700 Suppose that, as a result of monetary policy actions, ..
A fairer distribution of rewards may generate a higher average productive effort on the part of the population in that way enhancing efficiency.
Honda Motors will sell you a $15,000 car for $380 a month for 48 months. What is the interest rate?
If an earthquake decreases cement supply by disabling a major cement plant and increases demand by necessitating repair jobs, what does the model of supply and demand definitely predict for the cement market?
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