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Suppose that the demand function for carrots is Q D = 200 - 2 p, and the supply function is Q S = 16 p. find the: equilibrium price, equilibrium quantity, consumer surplus, producer surplus, and govt revenue for the following three scenarios: a) no tax or subsidy, b) a tax on suppliers of $ 5 per unit, and c) a subsidy of $ 5 per unit.
In March 2012, Daniela Motor Financing (DMF), offered some securities for sale to the public. Under the terms of the deal, DMF promised to repay the owner of one of these securities $200 in March 2052, but investors would receive nothing until then. ..
What factors control population growth? How have these rates changed over time, and which regions have reported the highest rates?
Suppose Helen works at a bakery where she bakes bread and cakes. Each hour she devotes to baking bread yields 4 loaves and each hour she devotes to baking cakes yields 8 cakes. What is Helen’s opportunity cost of baking one loaf of bread?
Please express your voice ew on the issue e using your Christian Worldview and your economic knowledge
Holding all other forces constant, if decreasing the price of a good leads to an increase in total revenue, then the demand for the good must be:
A perfectly competitive firm sells 10 units of Good X at a price of $2 per unit. It incurs a fixed cost of $5 and a variable cost of $40 to produce the good. Which of the following is true?
When the price of an inferior good declines, does the substitution effect tend to increase or decrease the quantity purchased of that good? Explain and show graphically.
Some people (e.g., Hayek) argue that decentralization of economic decisions in the economy leads to an efficient resource allocation. What differences exist within the firm that make the link between de- centralization and efficiency less clear?
In today's global markets, many companies source, produce, transport and sell products internationally. Firms seek to maximize potential sales, while minimizing costs and production/distribution time. In this environment, explain the strategic imp..
Consider that the current U.S. economic system is replaced with a system where everyone is paid exactly the same salary. Assume that each family would receive an equal share of GDP. Would you personally favor this system? Explain. What problems would..
You are the manager of the Accounts Receivable department in your company and responsible for monitoring customer payments and their credit limits. You get a call from a salesman questioning why an order from one of his customers was rejected. Should..
A 100 KM toll way costs $5M per km to build. The bonds are for 20 years and pay 10 percent per year [(A/P, 10%,20) = 0.1175]. If annual maintenance costs are $1000 per km, and 20000 vehicles use the toll away every day, what toll needs to be charged ..
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