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Suppose the Maryland legislature passes a law requiring that $1 billion a year be raised via two new taxes, one on good X and another on good Y, but leaves the choice up to the governor what rates to choose for tx and ty. Suppose that these goods are produced by competitive industries at constant marginal cost, and suppose the demand and supply curves are for each kind of good are known, and the goods are neither complements nor substitutes. How should the governor choose the various tax rates to minimize the total excess burden raised by the new taxes? Finally, suppose that demand for good X is less elastic than demand for good Y. Does that mean the tax rate on X will be higher or lower? If the reason X demand is less elastic is that richer people consume more X and they can afford the extra taxes, does this undermine or enhance the case for the tax scheme you proposed?
How does McDonald's develop long-term relationships in a foreign country through its vendor sourcing strategy and marketing campaigns?
What is the role of the Economies of Scale on the expansion of Gap, Inc into Rome Italy.
There are two goods in the economy, anchovies (a fish) and bananas ( a farm product). Draw the economy's production possibilities before and after a natural disaster that lowers the banana harvest but does not affect anchovies.
Compared to the Gini coefficient for income distribution, the value of the Gini coefficient for the distribution of wealth would be,percent of families on the vertical axis and percent of income on the horizontal axis b. percent of families on the h..
If the price of a good is set higher than the equilibrium price: - Suppose that quantity supplied of a product equals 5 and quantity demanded equals 8. In this market, there is a:
What are the risks and opportunities of the strategies followed by Pepsi? of Coca Cola? 3.) How would you respond to Coca-Cola's change in sales policy? How would you ensure Pepsi's board that this response will allow you to remain competitive and..
When faced with an ethical dilemma in the workplace, should the employee quit their job--OUCH?
1.suppose the economy is experiencing inflation. what would be the interpretation of ho-w a restrictive monetary policy
Whre the rest of the world propelled by the requires of developing countries, continued to increase by the historic rate. What would be the US share of total consumption in 2050 in percent.
Explain why did the Fed begin to raise interest rates at a point in the economic recovery with concerns over terrorism and rising energy prices causing great uncertainty.
Suppose that the income elasticity of demand for land is +0.75. The unit commuting cost (cost per mile) is the sum of monetary cost (30 cents per mile) and time cost (opportunity cost). Suppose that the typical commuter earns a wage
Please show your working-A person borrows $200 from a payday loan company, and pays $10 interest for two weeks. This would result in an annual interest rate of approximately ___ percent. Ignore compounding.
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