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Public Economics
Suppose RDU imposes a new airport tax, which is to be paid by travelers. Assume airlines' demand for labor is relatively inelastic but not perfectly inelastic; workers' supply of labor is very elastic but not perfectly elastic, either.
i. The demand will SHIFT UP / SHIFT DOWN / NOT CHANGE (circle one) after the tax.
ii. The supply will SHIFT UP / SHIFT DOWN / NOT CHANGE (circle one) after the tax.
iii. Economic incidence of the tax falls onto AIRLINES / WORKERS / BOTH SIDES (circle one).
iv. AIRLINES / WORKERS (circle one) will bear a larger share of the economic incidence.
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q. in class we discussed the idea that small farmers are sometimes price takers i.e. the price of wheat are set in the
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Suggest some ways you think that the unemployment problem can be improved
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Which of the following pricing policies compensate customers if the firm fails to provide the best price in the market?
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The Shakespeare Theatre has a monopoly on productions of Othello in Washington, DC. They hire you to analyze whether o?ering a “young adult” discount could help increase pro?ts. After some economic analysis, you discover that the demand curve for Oth..
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Some economists have suggested there is an implicit cartel among European air carriers whereby the airlines charge monopoly fares under the shield of regulation. Given the preceding facts, find the profit maximizing fare and the annual number of ..
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