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Please provide full graph and detailed solution and how you got the supply + tax graph in detail (im still new to the subject). Market for Cigarettes and the Sin Tax Law. Given the table below, plot the Demand and Supply Curves for cigarettes in the Philippines in November2012. Price (Pesos) 10 20 30 40 50 60 Quantity Demanded (packs) 200 160 120 80 40 0 Quantity Supplied (packs) 0 60 120 180 240 300 Answer the ff: 1) Find the equilibrium point. 2) The government passed a sin tax law in December 2012, imposing an additional tax on cigarettes to curb consumption. Suppose that after the tax, the price of cigarettes has become Php 50 per pack. Show what happens to the Demand and Supply of cigarettes after the imposition of the sin tax.
Critics argue that concern about labor practices in other countries is often used to justify protectionism. Is this a reasonable criticism? Explain.
Assume that the economy is beginning at equilibrium. There is a supply shock and OPEC has decided to increase production, which lowers the price of oil. What will happen to the price level and RGDP in the short run? Label the original point (A) and t..
Explicate the difference between balanced growth strategy and unbalanced growth strategy.
Jaguar Machining needs to purchase a piece of machinery to be able to compete on a new contract with a first-tier automotive supplier. The machinery will cost $140,000 and the owner arranges to borrow the entire amount at 8% interest. By how much ($X..
Should the government raise the budget deficit in the coming years, if so what type of impact will it have on the economy?
Total utility is determined by: a. finding the additional utility gained from consuming one more unit of a product. b. dividing the marginal utility derived from consuming a good by its price. c. multiplying the quantity purchased of a good by the pr..
Describe the development milestones that occur in the stages of fertilization, embryonic development, fetal development, childbirth, and postnatal.
(a) To check their calculations, compute the annual rate of return. (b) Why is your computed rate of return less than 100%?
A 5 year treasury note has a coupon rate of 2.50%. What price would you pay for such a security having a principal value (par value) of $1 million if the current interest rate is 2.25%? The current interest rate is 3%? (to simplify the calculations, ..
In my political economy class, I can't understand what are the concepts or categories of analysis of the critique of political economy, could you please help me
A cash flow profile starts with $2,000 and increases by $1,000 each year up to $21,000 at time 20. Then, it starts again with $21,000 at time 21 and decreases by $1,000 each year to $2,000 at year 40. Convert the cash flow profile to an equivalent gr..
After you have done the readings and watched the videos on Gandhi consider the following questions for your response, using examples from movie/readings:
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