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(a) Suppose that 1 bottle of vodka costs $ 8.000 and that the government wants to decrease consumption of vodka by 25%, for which it evaluates establishing a tax. If the price elasticity of vodka demand is equal to -3, what would be the price that induces a 25% decrease in consumption? Explain carefully what you are doing.
(b) The demand for a good Q is as follows: Qd = 200 - 5p. In the market there are 10 producers with the following (identical) supply function qis = p - 10 (for i=1...10). Determine the social welfare loss of a subsidy of $5 per unit of Q unit in the market. Present your results graphically.
(c) A utility-maximizing consumer chooses his optimal bundle such that the marginal utility for all the goods he consumes must be equal. True, False or Uncertain? Explain.
How does having effective performance methodologies allow a firm to adequately measure economic performance? What is the role of an effective transfer pricing.
outsourcing offshore please respond to the following answer the following discussions on the decision to outsource
What is the optimal choice of pizza and other goods for Toby and Josh if they are paying for pizza separately? Suppose that Toby and Josh get their taxes refund
Describe how we calculate the percentage decline in national income resulting from the misallocation of labor in a model of monopoly unionism.
Recognize three well-founded reasons supporting the potentially beneficial role for government intervention in the workings of private marketplace.
With a series of benefit cuts across many firms throughout the economy, some economists argue that nominal wage rates, a major cost of inputs for firms, have been decreasing.
Sam currently earns $30,000 per year. the governments is considering a policy that would increase sam's income by 12%, but raise all prices by 8%. what is sam's compensating variation for the proposed policy? can you compute it without knowing his..
Compute the planned production of finished goods (in units). Compute the cost of finished goods manufactured. Compute the cost of goods sold.
Determining Cause and Effect Use a graphic organizer like the one below to illustrate how economic and social goals may conflict with one another.
Explain how a franchise could be considered a partnership? what make a franchise agreement simpler than a partnership that you would start with another individual?
Assume that, prior to the accident, the owner had posted an attendant during the day. Suppose that the victim claims that the owner is negligent for not having posted the attendant for 24 hours. Use the marginal Hand Rule to evaluate the merits of..
Define a dummy variable equal to 1 for years after 1979. Include this dummy in equation (10.15) to see if there is a shift in the interest rate equation after 1979. what do you conclude ?
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