Constant and that the market demand curve is inelastic

Assignment Help Business Economics
Reference no: EM132431380

Using a graph, show the impact of sales tax on product X in immediate and long run market equilibrium. Clearly indicate consumer's and producer's burden of tax on the graph. Assume that all other factors remain constant and that the market demand curve is inelastic.

Reference no: EM132431380

Questions Cloud

Why is money a better system than barter : Why is money a better system than barter? Why do economists say that money is entirely dependent on "faith"?
What social change means : Explain what in qualitative research?Explain what social change means to you as a Walden doctoral candidate. What experiences from the course most
Learn about the loanable funds market : Students learn about the loanable funds market and the benefits to investment it typically becomes obvious that we need to encourage more investment.
Show that the general linear demand function : Show that the general linear demand function D(p) = a - bp, where a and b are positive real numbers, has a decreasing elasticity for 0 = p
Constant and that the market demand curve is inelastic : Clearly indicate consumer's and producer's burden of tax on the graph. Assume that all other factors remain constant and that the market demand curve is inelas
Difference between a firm''s horizontal-vertical boundaries : Explain the difference between a firm's horizontal and vertical boundaries. For an ice-cream manufacturer provide an example of each type of boundary.
How does Freire describe the banking model of education : According to Freire, how does the "banking" model of education conceptualize knowledge? How does Freire describe the banking model of education?
Evaluate the likely impact of high inflation : Question: Evaluate the likely impact of high inflation on the UK government's macroeconomic objectives
Describe the effect that changes in business taxes : In detail, please describe the effect that changes in business taxes, personal income, and transfer payments have on a country's gross domestic product (GDP).

Reviews

Write a Review

Business Economics Questions & Answers

  Rate of return on investment and value of domestic currency

If the Federal Reserve increases the money supply, the rate of return on investment (increases/decreases) and the value of the domestic currency (increases/decreases)

  Tickets to any game for a total payment

The ticket book contain 10 reserve seat tickets to any game for a total payment of$50. Using consumer theory, show why the CC's sell the ticket book.

  Suppose the actual rgdp for the us economy

Suppose the actual RGDP for the US economy in Y2003 and in Y2004 are respectively $10,580.7 billion and $10, 994.3 billion. Estimate the growth rate of RGDP in percentage terms between these two years. (Hint Growth rate = (Yt- Yt-1)/Yt-1 *100).

  Equilibrium price and quantity

The table gives supply and demand data for a certain elective surgical procedure. Without health insurance, the equilibrium price and quantity would be

  Effects of innovation and technology on cost of production

What are the effects of innovation and technology on the cost of production? How does technology affect market structure and real-world competition? Which market structure is best suited for technological innovation? Explain your answer. How have tec..

  Total output-productivity and standard of living in economy

State two ways the labor supply curve shifts to the right. Explain how each way impacts the equilibrium wage, equilibrium full employment, total output, productivity, and standard of living in the economy?

  What is the expected real interest rate for this loan

The terms of the loan are not renegotiated, so the borrower has a guaranteed nominal interest rate of 10%. What is the expected real interest rate for this loan?

  What qualities make a future issue trigger

Due to the changing environment and external triggers, contingency planning is necessary. What qualities make a future issue a trigger? Consider you are on the strategic planning team for a soft drink company. Here is your company’s future trigger: m..

  Examine perfect competition in the value-menu

Examine perfect competition in the value-menu fast-food restaurant business. Why does this type of fast-food restaurant tend to display characteristics of perfect competition? When is losing money on Mondays still a good business decision?

  Taxed by the corporate income tax

Explain how the corporate income tax leads to the double taxation of some income. Why do we allow corporations to subtract depreciation from taxable corporate

  Assume that consumption schedule for private open economy

Assume that the consumption schedule for a private open economy is such that consumption C = 20 + 0.75Y. Assume further that planned investment (Ig) and net exports (Xn) are independent of the level of real GDP and constant at Ig = 40, G =20 and Xn =..

  Article and provide strategic response

Evaluate the following article and provide your strategic response as a firm in one several industries mentioned in the article

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd