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Purpose the market demand curve for a product is given by Qd =10 -0.5 P and the market supply curve is given by Qs = -2 + P, where P is in $ per unit. a.Determine the equilibrium price and quantity in this market (2 marks) b.Compute the price elasticity of demand and supply at the equilibrium in (a) (2 marks) c.Suppose that a tax of $3 per unit is imposed on the buyers. Find the new equilibrium price and quantity after tax. (3 marks) d.Calculate the incidence of the tax on the buyers and sellers? (2 marks) e.Calculate the tax revenue collected by the govern ment? (1 mark) f.Calculate the deadweight loss associated with the $3 tax (
Suppose that you agree with the 16-percent rate of return proposed by the company. What factors need to be considered when setting rates designed to achieve this factor?
Many home improvement retailers like Home Depot and Lowes have low-price guarantee policies. At a minimum, these guarantees promise to match a rival's price, and some promise to beat the lowest advertised price
Economic historians have argued that the financial system that emerged in the late 1700s and early 1800s was instrumental in promoting modern economic growth a few decades later. Discuss the important features of the new financial system that fos..
A fall in the value of the dollar against other currencies makesUS final goods and services cheaper to foreigners even though theUS aggregate price level stays the same. As a result,foreigners demand more American output.
regarding the four attributes of perfect competition (many small firms, freedom of entry, standardized product, and perfect information): a) which is primarily responsible for the fact that the demand curve of a perfectly competitive firm is horiz..
An engineering practitioner can lease a fully equipped computer and color printer system for$800 per month or purchase one for $8500 now and pay a $75 per month maintenance fee. If the nominal interest rate is 15% per year.
How might a country's regulatory environment impact a firm's international strategy? 3. How do the international strategies affect the trade-offs managers must make between local responsiveness and global efficiency?
The two primary issues in international commerce are dumping and tariffs. Dumping is the international form of predatory pricing, prohibited by the WTO. Tariffs are taxes on imported goods, effectively increasing the price on these goods.
Would you mind sharing with the class a simply numerical example showing how the CPI is calculated. What can you share with the class concerning the substitution bias associated with the CPI.
What are the characteristics of a Perfectly Competitive Market and what are the Characteristics of a Monopoly?
The basic economic argument for greater income equality is that: an equal distribution of income is the logical outcome of any tax-transfer program. because citizens enjoy political equality, they are also entitled to economic equality.
The US treasury isn't the only issuer of bonds. Corporations also issue bonds that have future payment structures like U.S. Treasuries. Of course, unlike the federal government, corporations can go bankrupt, leaving their bondholders unable to col..
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