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1) The demand and supply equations in a market are given as Q = 30 - 2P and Q = 10 + 2P. If the government imposes a tax of $0.50/unit on the suppliers, what would be the net loss in consumer surplus and producer surplus? What would be the deadweight loss? Also compute consumer's tax burden and consumer's new expenditure.
2) a.Give an example of positive externality. Using a graph explain how the usual framework of marginal private benefit and marginal private cost leads to underproduction (less than optimal production) in this case.
b. Give an example of negative externality. Using a graph explain how the usual framework of marginal private benefit and marginal private cost leads to overproduction (more than optimal production) in this case.
Many retail companies use mark up pricing? Setting price some percentage above variable cost (such as 50% above cost).
Gamma corporation one of the firms which retains you as the financial analyst is considering buying out Beta Corporation. Discuss how these data provide evidence of inefficiency. How could the new manager of Beta Corporation improve efficiency?
Distinguish between explicit and implicit costs, giving examples of each. Differentiate between accounting profit, normal profit and economic profit.
Find the expected value of the lottery induced by accepting the second wage offer and find the expected utility associated with the second offer.
Use a demand and supply model to describe the impact of occupational segregation or "crowding" on the relative wage rates and earnings of men & women.
The hair stylist, LTD., is popular-priced hairstyling salon in College Park, Maryland. Given large number of competitors, the fact that stylist routinely tailor services to meet customer needs, and the lack of entry barriers, it is reasonable to s..
What is an "oligopoly" and why do they exist? Mention three or four oligopolies whose products you own or regularly purchase.
Discuss the characteristics of Great Britain's economic relationship with India in the 17th and 18th centuries? How would you describe their success in their competition with Dutch?
The long-run aggregate supply curve is vertical at economy's potential output level. Why is the long-run aggregate supply curve situated at his level of output rather than below or above the potential output level?
you must identify a franchise that is relatively new (less than 10 years old and fewer than 25 locations in Canada). You must then evaluate the attractiveness of the franchise for an identified location. The evaluation should include: Presentation ..
The production engineers at Impact Industries have derived the optimal combinations of labor and capital (the only two inputs used by Impact) for three levels of output: 120, 180, and 240 units of output:
What is the consumer surplus [loss] associated with the merger and what was the profit before the merger? after? increase? How does the consumer loss compare to the increase in profit?
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