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Suppose the government of a desert community wants to punish excessive water usage, where "excessive" is defined as any usage greater than 100 gallons/week. to do this, the government paces a flat $100 income tax on anyone who consumes more than 100 gallons/week of water in any given week (so this tax could theoretically be levied 52 times per year). people who use less than 100 gallons of water each week will not face this $100 special tax. For these problems, consider the decisions between water consumption, X(sub)w and consumption of a composite good, X(sub)c, where P(sub)w =$2/gallon and the composite good's price is numeraire. Suppose michael lives in this desert community and has a weekly income of $1000.
1. Graphing michels budget contraint over (X(sub)w , X(sub)c) bundles, what is the slope of his budget conraint for bundles containing MORE than 100 gallons of water?
2. What is the slope of michaels budget constraint at the point (X(sub)w, X(sub)c)=(100,750)?
3. What is the maximum amount of water michael could possibly consume in a week in the presence of this tax? (Assume that michael's $1000 per week budget is fixed and that the tax is levied instantly once X(sub)w>100)
Imagine you are a manager of a chemical company. An accident has occurred in which chemicals leaked into the ground water nearby, the community is unaware. Assess the costs involved in cleaning up the water immediately (confessing) versus hiding the ..
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Answers the business economics questions, Capital markets enable us to spend large sums of money that don't belong us. Would it be necessary to create an internal capital market if a firm was to be led by market-based management? Explain.
Assuming other countries do not change their own trade policies, what would be the impact on the value of the dollar relative to other currencies? What would be the effect on the jobs in U.S. industries?
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ABC Company is considering a private placement of equity with XYZ Insurance Company.
Assume the average value of P is $ 3 and the average value of Po is $ 6. Illustrate what is the price elasticity at the average values of P and Po.
An emissions fee is paid to the government, whereas an injurer, who issued and held liable, pays damages directly to the party harmed by an externality. What differences in the behavior of victims might you expect to arise under these two arrange..
The function for the net exports is NX=200-100e, where e, is the exchange rate, and the exchange rate is initially 1.0.
What happens to consumer and producer surplus when the sale of good is taxed? How does the change in consumer and producer surplus comapare to the tax revenue? As a result of the above are taxes necessary to have? Explain.
You and other college students are deciding whether to major in music or engineering. You learn that there is a shortage of engineers making it easy for engineering graduates to find employment while there is a glut of musicians for whom finding a jo..
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