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The elasticity of demand for home computers is -2.5, the elasticity of demand for business computers is -.90, and the elasticity of supply for computers for both purposes is
1. a.A per-unit tax of $200 is imposed on the suppliers of computers. How much does the gross price increase in each market? [Hint: first find the tax incidence/shares.]
b.Suppose the untaxed market equilibrium price and quantity in the home computer market are $850 and 10 million, respectively. In the business market, the untaxed market equilibrium price and quantity are $1200 and 15 million, respectively. What is the deadweight loss of the $200 tax?
Electric utility companies usually operate their most modern and efficient equipment continuously (i.e around the clock) and use their older and less efficient equipment only to meet periods of peak electricity demand. What does this imply for the sh..
Explain the logic verbally using economic theory and illustrate with at least one theoretical graph. My variables are represented by the independent variable, annual median income, lying on the x-axis and dependent variable, greater or equal to seven..
Suppose a new tax is placed on the firms selling sugary drinks. What is the likely impact on prices of sugary drin
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Hamilton Control Systems will invest $90,000 in a temporary project that will generate the following cash inflows for the next three years.
Define marginal utility. Provide an argument why maximize total utility of good X and good Y, the consumer should consume until the ratio of marginal utilities
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What information would you use to make predictions about the economic demands and probable settlement for a particular union-management negotiation?
The mean rating for 276 boys with the disorder was reported as 2.36 with a standard deviation of 1.07. (Round your answers to four decimal places.)
Outline what the kinked demand curve model of oligopoly seeks to explain. What are the major points of this theory? How does the kinked demand theory of oligopoly differ from other theories in terms of explaining the behavior of companies in an oligo..
Which of the following would increase the supply of corn? If the quantity of Harley-Davidson motorcycles demanded decreases by 10% when the price increases by 20%, the price elasticity of demand for Harley-Davidson motorcycles is: Which of the follow..
Calculate output, marginal revenue, marginal cost, average cost, price, and profit at the average total cost-minimizing activity level.
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