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Assume that gasoline retailing industry is perfectly competitive, constant expenses, and in long run equilibrium. If the government unexpectedly levies a 5-cent tax on every gallon sold by gasoline retailers, depict what will the effects of the tax be in the short run on industry out puts and price? Will the price rise by the full five cents in the short run? In the long run? How would your answer change if the industry was increasing cost?
Illustrate what might be some practical problems or issues the country might face with this proposed plan.
Elucidate the difference between economic profits and accounting profits. Using the concepts of relative elasticity and relative inelasticity, explain price elasticity of demand.
Elucidate each of the folling statements using supply and demand diagrams. When a cold snap hits Florida, the price of orange juice rises in super marlets through out the country.
He define you that the report will be handed out to the staff prior to the staff meeting next week and that it should outline the various forms of market structure.
Assume that the MPC is .8 and that $10 trillion of real GDP is currently being demanded. The government wants to increase real GDP demanded to $11 trillion.
Submit an outline that which gives information on your article and the three general economic principles and the three to five macroeconomic indices you will be discussing in your project.
Elucidate the mechanisms through which improvements in population health can lead to improvements in income levels.
Calculate the book price and quantity effects of the local 8% sales tax. With perfectly elastic demand, who pays the economic burden of such a tax?
the marketplace in which it operates the role of government regulations of company and any issues or opportunities that the Home Depot faces.
Given the industry's concern that workers shirk, they start employee at $10 and increase the pay by $0.40 each year they are on the job.
Suppose the following equations discuss a hypothetical economy where both the price level and interest rates are fixed.
Illustrate what are three key macro-economic indicators that you could use to assess conditions that apply to your reference organization.
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