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Explain how the “incidence” (i.e. “Who pays the tax”) of a per-unit tax on transactions depends upon the slopes of the supply curve and the demand curve. You may utilize graphical analysis to explain your answer as well.
If nominal output is $5.28 trillion also the GDP deflator is 20 percent higher than what is the output in the base year other than real output.
If we assume that a given bus market is in competition which charges a flat fare of N$1, and if the formula for the total demand (in thousands) in the market is given by the equation:
Identify three types of competition that most firms encounter other than competition from other firms in their industry in their home country.
Could Boeing's margin probable rise or else fall if yen then depreciated as well as competitor prices were unchanged.
Assume that apples are an inferior good. Draw a perfectly competitive market for apples and a firm selling apples in the long run equilibrium where price is $10 and the firm’s equilibrium quantity is 50. EXPLAIN what happens in the short-run if custo..
q.suppose you are attempting to buy a used bicycle and you are bargaining with the owner over the sale price. the bike
Manufacturers begin building a new plant in Arizona. Which determinant of cumulative demand causes the change.
You have been hired to manage a small manufacturing facility whose cost and production data are given in the table below. (20 points) Workers Total Labor Cost Output Total Revenue 1 $50 100 $700 2 $100 250 $1,150 3 $150 300 $1,440 4 $200 380 $1,620 5..
Why would a firm in a perfectly competitive market always choose to set its price equal to the current market price? If a firm set its price below the current market price, what effect would this have on the market? Discuss.
In December 2014, the international price of oil has dropped to almost half of its level in June 2014. What do you think the expected impact of this drop on the US economy in the short run and in the long run using the AD and AS model? Hint: Think of..
A picture is worth a thousand words. We’ve heard that often but seldom consider the impact the visual media has on the written text. This is especially true in business messages and the projects you are working on creating for this course. As you des..
The market demand functions for corn is Qd = 15 – 2P, and the supply function of corn is Qs = 5P – 2.5. Suppose the government gives corn farmers a $0.70 subsidy per bushel of corn. What will be the effects on aggregate surplus, consumer surplus, and..
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