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Suppose that government imposes a $5 excise tax on each case of beer. The beer industry faces the following demand and supply curves before the tax.
Qd = 100 – 3P
Qs = 20 + 2P
1. Determine the equilibrium price and quantity before and after the tax.
2. How much tax revenue does the government receive?
3. What is the consumer’s tax burden? The producer’s burden?
4. The dead-weight loss?
A market with demand Q = 10 p is supplied by a monopoly with costs C(Q) = 6 + 2Q. Calculate the equilibrium price, output, and monopoly profits. What would be the equilibrium if the market were supplied competitively by firms, and each firm had the s..
Supply-side economics advocates
If JMJ Industries realizes a profit of $4 per unit sold, what is the fixed cost portion of their production costs? Their variable costs are $1.50 per unit, and they sell 1,000 units per year at a price of $6 per unit.
"Firms prefer to acquire existing assets rather than undertake green field investments while contemplating FDI." Explain the reasons that support this argument.
What are the advantages and disadvantages of a “bailout” for an industry such as financial or automotive? Please give several examples and document any sources/data as appropriate. What is your opinion about government involvement and financial suppo..
Shannon purchases a bond for $1,142.38. The bond matures in 3 years, and she will redeem it at its face value of $1,200. Interest premiums are paid annually. If Shannon will earn a yield of 7%/year compounded yearly, what is the bond interest rate?
On October 4, 1996, Tenet Healthcare Corporation, the second-largest hospital company in the United States at that time, announced that it would buy Ornda Healthcorp.† what would Tenet Corporation consider to be the 15-year present value of Ornda Hea..
Why do economists insist on emphasizing the difference between money and income? Why is this difference important in macroeconomics?
Suppose a union is the sole supplier of labor to all the firms in an oligopoly, such as the United Auto Workers is to General Motors, Ford, Chrysler, and so on.What is the subgame-perfect outcome of this game? How (and why) does the number of firms a..
The owner's of a small manufacturing concern have hired a manager to run the company with the expectation that he will buy the company after 5 years. Compensation of the new vice president is a flat salary pluss 75% of the first $150,000 profit, then..
According to the Wall Street Journal, Mitsubishi Motors recently announced a major restructuring plan in an attempt to reverse declining global sales. Suppose that as part of the restructuring plan Mitsubishi conducts an analysis of how labor and cap..
Elucidate how economics regulation affects the market of telecommuniciation. Explain the entities affected by industrial regulation in terms of market structure.
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