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Beatriz enjoys writing and uses a large amount of paper. Currently, paper costs $2 for 100 sheets. The formula for her demand curve is S = 525 - 50P(s), where P(s) is the price of 100 sheets and S is the number of sheets purchased. The governor of her state has proposed taxing paper at the rate of $0.5 for each 100 sheets. Assume that this policy would increase the price of paper to $2.50 (including tax).
a) Draw Beatriz' demand curve. Compute the change in her consumer surplus for the proposed tax increase.
b) How much revenue will the government raise by taxing Beatriz? How does that revenue compare to her economic losses? Does the new tax raise enough revenue to compensate her for her loss?
Considering companies operate in their own self interest, should cartels be legal.
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if the original amount of loan is for $24000 and interest is 1/2% per month on the unpaid balance, explain how much will Kris's payments be.
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Calculate the equilibrium level of income or real GDP for this economy. b. What happens to equilibrium Y if I changes to 10? What does this outcome reveal about the size of the multiplier?
How company is the low-cost provider of these boxes with fixed cost of $480,000 per year, plus variable cost of $30.00 for each box. Annual demand and marginal revenue functions for the company are.
If there are n firms in the marketplace also every firm charges p. Illustrate what is total producer surplus.
Government increases its spending by $2 billion and raises taxes by $1billion. Illustrate what happens to equilibrium income.
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suppose that new producers enter the market and the supply increases to: Qs = -500 + 10P. What is the new equilibrium price and output level? (g.) Show these changes on the graph
Illustrate by how much (what percentage) does the consumer facing a 15% marginal tax rate alter his or her level of charitable giving as the result of the deductibility of charitable contributions?
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