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Let the demand function be p = 60 - 2q, where p is the price the firm receives if it sells quantity q of output. The firm's cost function is given by C (y) = 1/2Q^2.
-Now, suppose the government impose a sales tax (NOT profit tax) of 20% on this market. Hence, if the firm produces quantity q of output, the price paid by consumers is p = 60 - 2q, but the price received by the firm is 0.8p = 0.8 (60 - 2q), where the 0.8 appears because the firm gets to keep only 80% of the purchase price, paying the remaining twenty percent to the government in taxes. Find the profit maximizing quantity of output for the firm and the government revenue
Suppose the government switches to a quantity tax of $t to get the same revenue as in (a). What would be the tax value t?
An agency is having problems with personal phone calls made during working hours. Each minute of a personal call costs the agency $0.50 in wasted wages.
A convertible bond has a face value of $1,000 and the conversion price is $60 per share. The stock is selling at $25 per share. The bond pays $85 per year in interest and is selling in the market for $945. It matures in seven years. Market rates are ..
Draw a supply and demand graph to assist in explaining the increase in the price of chain saws after Hurricane Andrew.
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