Explain why would elasticity of demand be important to you

Assignment Help Business Economics
Reference no: EM1361298

You are chairperson of a state tax commission responsible for extablishling a program to raise new revenue through excise taxes, why would elasticity of demand be important to you in determining the products on which the taxes should be leived?

 

Reference no: EM1361298

Questions Cloud

Find the work done by this force on the particle : Find the work done by this force on the particle.
Calculate performance of cache and the average cpi : Assume the instruction cache miss rate is 0.5% and the data cache miss rate is 1%. Calculate the performance of the cache (CPU execution time) and the average CPI.
Teaching to patients and nursing staff : What is the demonstrated applicability of teaching to patients and nursing staff?
Creating a powerpoint on roles of participants in hiring : Creating a PowerPoint on the roles of participants in the hiring process - Formulate a plan, including a flowchart, on the participants' roles for the hiring process. Include the following:
Explain why would elasticity of demand be important to you : Explain why would elasticity of demand be important to you in determining the products on which the taxes should be leived.
Assuming the boats acceleration remains the same : What is the distance Delta y_max-min between the second maximum of laser 1 and the third minimum of laser 2, on the same side of central maximum.
Determine maximum variable cost : If a business has sales of $2000 in widgets, with fixed costs of 1000 and a sell price of two hundred per widget, determine maximum variable cost for each widget in order for business to breakeven?
Physiological consequences and health risks : Physiological consequences and health risks of excess body weight.
What is transmission time for one cell through one switch : Consider compressed video transmission in an ATM network. Suppose standard ATM cells must be transmitted through five switches. The data rate is 43Mbps. What is the transmission time for one cell through one switch?

Reviews

Write a Review

Business Economics Questions & Answers

  Co9mpute the percentage change in the shares of household

Co9mpute the percentage change in the Shares of Household Income of Quintiles between 1968 and 2008. Notice the dates are in reverse chronological order. Why do you think it has changed in the manner it has.

  Paper sold in competitive market

Elucidate is the efficient yearly output of paper and how can this be achieved.

  Demand for labour is elastic

if the demand for labor is elastic because the demand for labor will decrease more when you have elastic demand than if demand were inelastic.

  Describe briefly how consumers and incumbent firms

describe briefly how consumers and incumbent firms are influenced by these externalities.

  Long -run marginal propensity

Explain why this formulation of consumption may provide a more accurate description of consumption than the simple consumption function that depends only on current income.

  Balance sheet balances only assets and liabilities

Explain how that the balance sheet balances if these are the only assets and liabilities.

  Illustrate why are companies using more technology

Illustrate why are companies using more technology input while reducing labor input. Why are the Average Cost Curves U-shaped.

  What happen to interest rates if the public believes him

The president of the United States announces in a press conference that he will fight the higher inflation rate with a new anti-inflation program. Predict what happen to interest rates if the public believes him.

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Three key economic factors for this country

Contrast two or three key economic factors for this country with the United State economy also comment.

  Compute the price of a bundle containing goods

Compute the price of a bundle containing 100 units of good X, 150 units of good Y, and 25 units of good Z.

  Direct competition with the oligopoly

Assume that a very competitive start-up enters the market in direct competition with the oligopoly you described in the e-Activity.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd