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Use of excise taxes on goods that have inelastic demand
Government imposes excise taxes on goods that have inelastic demand, such a cigarettes, more often than in other cases. Why? Explain using the elasticity concept.
Show these data graphically. Upon what specific assumptions is this production possibilities curve based? What would production at a point outside the production possibilities curve indicate? What must occur before the economy can attain such a lev..
Explain how does the state of the economy affect federal budget. Explain how can macroeconomic variables inter-relate to each other.
Suppose a monopolistic competitor in long-run equilibrium has a constant marginal cost of $6 and faces the demand curve given in the following table:
In a closed economy without a government sector, consumption is determined as 80% of the income available to households. Investment is autonomous at a level of £450.
Explain how the aggregate expenditure function shifts in response to the changes in each of the following variables:
Suppose in country Triniland employers are required to pay overtime at 50% above the normal wage rate for workers who work beyond 8 hours a day.
Explain how would either decision change if the government imposed a 20 percent tax on earnings and interest income. Illustrate what would happen if the government exempted interest income.
A major competitor cut their price also the industry sales declined to 8000 shoes per month, If the company wishes to restore
if the table shows the demand faced by a monopoly company then what is that firms marginal revenues as it increases output from 100 units to 300 units.
Illustrate what is the estimated elasticity of demand for new brand cars with respect to the price of gasoline.
How much does it choose to sell when it enters the market? What is the resultant market price? How much does each of the two firms earn in profits?
Find out the price elasticity of demand regarding to the money price using "arc elasticity."
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