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Questions: Gas prices fluctuate often and in both directions. In your initial post, respond to the following:
1. How responsive do you think consumers will be to the price change when these fluctuations occur due to changes in supply? Why? Use the various determinants of elasticity to explain your answer.
2. How does the price of elasticity of demand for gasoline impact the effectiveness of taxes on gasoline aimed at correcting a negative externality?
3. Consider incorporating the supply-and-demand model to demonstrate the elasticity of demand for gas and to show the effects of tax on the market for gas.
Draw short run firm and industry competitive equilibrium for a perfectly competitive gator-farming industry before the number of alligator farms in Florida doubled. For simplicity, assume the gator farm is earning zero economic profit.
Leading a team-based organization.
Why should companies value diversity now? What are the benefits? What are the characteristics that make us different? Should these diverse characteristics be embraced in the workplace? If so, why or why not?
1. Suppose that government policymakers decide that they will change taxes to raise aggregate output by $400 billion, and mpc=0.5. By how much will taxes have to be changed?
Smit discusses two cultural dimensions: 1) Power Distance or Hierarchy; and 2) Uncertainty Avoidance. Explain these terms and explain where the country you plan
Costs associated with the manufacture of miniature high-sensitivity piezoresistive pressure transducers .-is, exist73, 000 per year.
A monopoly faces the following TR and TC schedules: TR = 300q - 2q2.
Sunnydale has commissioned you to help develop a strategic plan focusing on the Smoking areas of Sunnydale Care's field of expertise.
You are a newspaper publisher. You are in the middle of a one-year rental contract for your factory that requires you to pay $700,000 per month.
how many units should be produced by plant 1 and plant 2 to maximise profit for this monopoly
What does it mean to say that an insurance contract is actuarially fair? Is the above contract actuarially fair - How much of the above contract will Bob purchase (i.e. what is the optimal level of t from his perspective)?
"Wal-Mart is a low-wage firm and this indicates that it exploits its workers." Which of the following should cause one to question the validity of this statement?
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