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Explain whether the following events will affect fixed costs or variable costs and please justify the answer
-Samsung signs a new contract changing the price it pays for the transisitors that are used in its mobile phone
-The federal government applies a levy per mobile phone provider of $1,000,000
-samsung decides to increase the amount it spends on designing the next version of its mobile phone
Suppose the market for wine in the U.S is characterized by : Calculate the deadweight loss if the U.S Imposes a prohibtive tariff per unit of imported wine.
Frances sells earrings in the perfectly competitive earring market. Her output per day and costs are as follows: OUTPUT PER DAY TOTAL COST 0 1 1 2.5 2 3.5 3 4.2 4 4.5 5 5.2 6 6.8 7 8.7 8 10.7 9 13 a) If the current equilibrium price in the earring ma..
Create an approach to tax research that results in credible and current resources - Analyze tax issues regarding the gift tax and the estate tax.
Explain what is meant by "first-mover" advantage and how each of these firms was able to control a relatively large share of their respective markets.
The federal government currently taxes alcohol on the basis of the 100-proof gallon. (Alcohol that is 100 proof is 50 percent pure ethyl alcohol; whereas wine is usually about 24 proofs, and most beer is 6-10 proof.) How would alcohol consumption pat..
You are selected by the board of Alderman in your hometown to help the lawmakers in establishing a program to raise new revenue through excise taxes. Why would elasticity of demand be important to you in determining the products on which taxes should..
Given the estimated marginal cost function above, write the equation for the average variable cost function and the total variable cost function.
At the end of the year, a firm produced 40,000 laptop computers. It's total cost were $10 million and its fixed cost were $5 million. What are the average variable cost (to the nearest dollar) of this firm?
In a gambling game, Player A and Player B both have a $1 and a $5 bill. Each player selects one of the bills without the other player knowing the bill selected. Simultaneously they both reveal the bills selected. Develop the game theory table for thi..
Identify "3" three problems that governments may encounter in implementing fiscal policy. Provide an industry example to illustrate your explanation.
Suppose the market for milk. For each of the following events, state whether it affects supply or demand, which direction supply or demand shifts, the effect on price, and the effect on quantity.
A construction firm has purchased a crane that comes with a 3 year warranty. Repair costs are expected to average $4500 per year beginning Year 4 when the warranty expires. Determine the present worth of the crane's repair cost over its 15-year life...
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