Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Suppose the government wishes to tax a utility maximizing consumer to obtain a certain amount of tax revenue. A utility maximizing consumer has utility function U(X, Y) = √X + Y. The price of X is $1, the price of Y is $4 and the consumer's income is $120.
(a) Suppose the government imposes sales tax T = 1 on good X per unit. What is the optimal consumption for good X and good Y for the consumer under the sales tax? What is the utility level that the consumer achieves under the sales tax? How much revenue does the government collect by imposing the sales tax?
(b) Suppose the government imposes income tax instead of sales tax to collect the same amount of revenue that could be earned from imposing sales tax in part (a). What is the optimal consumption for good X and good Y for the consumer under the income tax? What is the utility level that the consumer achieves under the income tax? Compare the utility level under the income tax with the utility level under the sales tax in part (a).
How many units of bananas would he consume if he chose the bundle that maximized his utility subject to his budget constraint?
If we are talking about setting prices or determining output even in a very large company such as an oil or steel producer wouldn't this be considered a microeconomics issue
Create a supply and demand graph in Excel that demonstrates the relationship between the amount buyers are willing to purchase and the quantity available.
What arguments would Support UniTech's focus on technical skills among first-line supervisors? What arguments could be made against that focus?
Using an example explain what is meant by a fixed cost of production. Calculate the firm's current average costs.
Which of the following is not a function of the Federal Reserve Bank? If the MPC = 0.75, what is the potential change in GDP as a result of a decrease in government spending of $80 billion?
in a proposed cost cutting exercise a firm offers its workforce the following deal a cut in regular wages but a
Identify the firm"s supply curve on your graph. d. At what price would the firm supply exactly 6 units of output
Describe some of the areas within this workstation where this employee could be injured. Describe what actions the employer might take to relieve some of these hazards.
Suppose the government imposes the following kind of sales tax: there is no tax for selling the first 35 units, but for selling every unit beyond the thirty-fifth unit, the seller has to pay the government an additional $12. What is the new optimal p..
Ted Baxter runs a small, very stable newspaper company in southern Oregon. The paper has been in business for 25 years. The total value of the firms capital.
in the context of the shareholder wealth-maximization model of a firm what is the expected impact of each of the
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd