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Gas prices fluctuate often and in both directions. How responsive do you think consumers will be to the price change when these fluctuations occur due to changes in supply? Why? Use the various determinants of elasticity to explain your answer.
How does the price elasticity of demand for gasoline impact the effectiveness of taxes on gasoline aimed at correcting a negative externality?
In order to answer the questions Consider incorporating the supply-and-demand model to demonstrate the elasticity of demand for gas and to show the effects of tax on the market for gas. Provide all references if you use any sources.
Discussion surface area and volume play a role in marketing products, such as advantages and disadvantages. Give specific examples and include related information when appropriate, such as surface area, lateral area, cross section, etc.
In neoclassical economics, based on the cost and the demand, a firm is assumed to choose its profit maximizing level of output. According to Hayek, what’s the problem with these assumptions?
Discuss the relationship between the level of GDP and economic well-being. What factors of well-being are missing from the GDP? Is there a point where the GDP could increase to such a high level
The existence of non pecuniary benefits associated with education causes estimated rates of return to education to _______ the actual rate of return for a typical individual.
q1. in a unregulated competitive market supply and demand have been estimated as followsdemand p 25 - 0.10q and supply
Assume the two newspapers merge. Illustrate what is the likely post-merger bargaining outcome.
Problems in the banking system eroded international confidence in Southeast Asian economies including those of Thailand, South Korea, and especially Indonesia which eventually leaded to the Southeast Asian crisis in 1997-98.
Assume that the firms form a cartel to maximize total industry profits. Determine the optimum output as well as selling cost for each firm.
Maintenance costs for a small bridge with an expected 50-year life are estimated to be $1000 each year for the first 5 years, followed by a $10000 expenditure in the year 15 and a $10000 expenditure in the year 30. If the maintenance operation is con..
What is the relationship between the marginal rate of substitution between leisure as well as labor as well as the marginal product of labor in the RC model.
q. remington inc. purchases a machine that costs 700000 and has an estimated useful life of 10 years a macrs property
below is a list of domestic output and national income figures for a given year. all figures are in billions. the
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