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Question: Suppose the $16.9 billion figure represents the total cost of tobacco use (although there are lots of reasons to expect that it does not, please assume that total costs are given by this figure). Would it be appropriate to use this figure to determine the total tax that should be levied by the two levels of government? Why or why not?
Two Developing Countries with two Different international Economic Results: A Comparative study of chile and Bangladesh. Make note of how the article deals with economic theory: do you think it lacks sound economic theory?
A profit maximizing monopolist faces a demand function given by Q(p)=70-p. The cost function is C(q)=5q. Suppose that the government introduces a tax of $10 per unit of output. As a result of the tax, the monopolist will? (increase the price to what?..
What impact does smoking and the co-morbidity of cardiac heart disease (previous MI, hypertension and high cholesterol) have on a patient
Which mathematical form of model (linear, semi-log or double log) would be appropriate for estimating each of the following? The rate of return from holding a bottle of wine for a year. The price elasticity of demand for squirrel fur.
You have received an order for 300 specially made items. On similar type items the improvement rate was 20%. The number of labor hours to produce the first unit was 14 hours, T1 (labor) = 14 hrs. Assume no learning for direct materials i.e T1 (materi..
Suppose a consumer considers Good X and Good Y to be perfect complements. Sketch the graph of the two indifference curves for this consumer. Please put the amount of good Y on the vertical axis, and the amount of good X on the horizontal axis. Also, ..
The simple case of pricing with market power assumes that all consumers are charged the same price, the firm sells one product,
Texas governor Rick Perry promised to put hundreds of cameras on the Texas-Mexico border and broadcast the video over the Web so anyone, anywhere could become a border patroller, helping root out border crime and illegal crossings. if the 200 cameras..
Maipo and Pisco need to decide how to divide a cake between the two of them. Both like cake and want to get as much cake as they can.
The Globe-Ex Corporation produces industrial-use gamma ray lasers. It is the only producer of these lasers in the U.S. In the first quarter of 2015, Globe-Ex reported accounting profits = $348 million. Calculate Globe-Exs economic profits. Use the ap..
Provided Ajax's pricing strategy, illustrate what is marginal revenue function for Ajax.Compute profit-maximizing level of output for Ajax.
If the price of watches is $100, how many watches should you produce to maximize profit?
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