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Consider the following market QD= 15-2P QS= 5P-2.5, with the government imposing a tax of 1.4 dollars per unit
a. Find the consumer, producer and total surpluses.
b. What is the tax burden for each of the market participant? (Through a previous problem, I figured that the tax revenue TR is 11.2, consumer price is 16, and producer price is 6.4).
In 2013, the furniture store PB produced 13 mahogany desks. One of them is sold to Jeanine for $3,349, later that same year Jeanine sold the desk to Pamela for $1,919. The remaining desks were not sold to anyone that year and stay in PB's inventory a..
Suppose that the production of $1 million worth of steel in Canada requires $100,000 worth of taconite. Canada’s nominal tariff rates for importing these goods are 20 percent for steel and 10 percent for taconite. Calculate the effective rate of prot..
What is the equilibrium quantity and equilibrium price for the following demand and supply curves: Calculate consumer and producer surplus in this market.
Briefly describe how these firms would price discriminate: department stores, airlines, movie theatres
Consider the case of a corn producer. This producer is a monopolist in the corn market. Since corn production uses significant amounts of fertilizers, it negatively affects the environment. Recall that, when a firm is a monopolist, it reduces its pro..
Illustrate what do your results tell you about the relative desirability of perfect competition versus monopoly in the presence of externalities.
Identify and discuss risks that you may face during a semester as a student. Classify such risks into three groups, i.e., risks that insurance contracts generally exist to help you manage them, risks that some type of government or social policy exis..
An important point is about customer expectations. What customer expectations are there with respect to What, When and By whom in a project? What would you use to determine if the project was successful? What would a customer use?
Suppose that the current 1-year Treasury bond yield is .02 and the 2-year Treasury bond yield is .03. Use the expectations theory of how long-term interest rates are determined to ascertain what investors expect the yield to maturity to be for a 1-ye..
Suppose a government has no debt and a balanced budget. Suddenly it decides to spend $10 billion while raising only $8 billion worth of taxes. What will be the government's deficit? If the government finances the deficit by issuing bonds, what amount..
Consider the BP oil spill that spawned a heavy public relations campaign after beaches were closed and wildlife was affected. write a two- to three-page paper that answers the following questions: Did BP use a proactive or reactive strategy? Explain ..
A firm purchased some equipment at a very favourable price of $30,000. The equipment reduced costs by $1000 per year during 8 years of use. After 8 years, the equipment was sold for $40,000. Assuming interest at 9%, did the equipment purchase prove t..
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