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Suppose in Fiscalville there is no tax on the first $10,000 of income, but a 20 percent tax on earnings between $10,000 and $20,000 and a 30 percent tax on income between $20,000 and $30,000. Any income above $30,000 is taxed at 40 percent. If your income is $50,000, how much will you pay in taxes? Determine your marginal and average tax rates. Is this a progressive tax?
What is the marginal product of the second employee. What is the marginal revenue product of the fourth worker.
Assume that imports increase supply. In terms of demand, supply and consumer surplus, why would consumers prefer more imports? Adam Smith studied a pin factory and found that 1 individual doing all tasks necessary to make a pin could only make severa..
Some economists have suggested that the best way to control medical costs is to remove the profit incentive for health care providers, particularly hospitals.
He is fouled attempting a three-point shot and is awarded three free throws. Assuming each free throw is independent, what is the probability that he makes at least two of the free throws?
Use a graph to explain what happens to short run costs as a team owner increases quality. What type of expenditure is made by owners to make this shift occur? Is team ‘quality’ a short run or long run choice?
Think of a business firm you recently visited (such as Walmart, Home Depot, Red Lobster, Barnes & Noble, McDonalds, etc.). What motivated the producers of all the individual products in the store to make them and offer them for sale? How did the prod..
Why did rising house prices make US retail banks more willing to provide mortgages for low-income earners with poor credit histories?
Gail works in a flower shop, where she produces 10 floral arrangements per hour. She is paid $10 per hour for the first eight hours she works and $15 an hour for each additional hour she works. What is the firm’s cost function? What are its AC, AVC, ..
Suppose that on January 1, 2020, the population of a country is 100 million. During 2020, there are 1 million births and 500,000 deaths. In addition, 2 million people immigrate to the country while 500,000 emigrate. What is the population on January ..
The cops catch Bob breaking into a Pepsi vending machine and arrest him. What is the process for charging him and who has and what is the burden of proof?
Salespeople working independently for the same company who are individually accountable for their work could be an example of a: Project organizations often employ a _____ structure. The instance of a vice-president of marketing assigning a task to a..
Use the Internet to learn more about what companies are doing to enhance employee creativity. Be specific when you make an entry in your search engine to avoid being deluged with a choice of Web sites far removed from your topic. In your search engin..
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