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Quantity tax and Food Stamps
(a) Consider a two-good (X and Y) model. How does a quantity tax (i.e. per unit tax) on good X affect the budget line of a consumer?
(b) A country recently passed a food stamp legislation. Qualified households are given food stamps, which can be used to purchase foods, but they cannot legally re-sell them. Suppose a household receives a grant of $300 of food stamps per month. How will this household's budget line be affected? (Hint: Consider two goods: food and other goods.)
Calculate the implied arc income elasticity of demand. I =? Given a price elasticity coefficient of -2.5, to what level would price have to be lowered to maintain there sales at a level of 28 million square yards. New Price =?
even before the metals and manufacturing companies described earlier u.s. railroads in the nineteenth century were
Evaluate the prediction of absolute convergence in GDP per person. Does it hold when using this data. Make sure you explain your method and include.
The right-of-way and the roadbed for a new highway will cost $4.5 million. The pavement will cost $2.5 million, and it has a much shorter life of 20 years.
1. Has Dr. Frederick done anything wrong in giving Sandra this assignment?
When decentralized governmental units operate independently and compete with each other, governments will attract residents and expand their tax base when
Describe the impact of rent controls on the rental housing market. Is this sex discrimination or something else?
Draw the market supply and demand curves. What are the efficient price and efficient quantity and show on your graph consumer surplus and producer surplus and calculate the values of consumer surplus and producer surplus.
Choose a suitable topic from the list provided below. Any topic that is not on the list will not be accepted. Critically evaluate the issue in terms of its microeconomic implication in reference to consumers and businesses. Clearly highlight the curr..
If the joint venture is allowed to proceed, how would you describe the new market? What would be the impact on price, quantity and profit? Explain.
A geothermal heat pump can save up to 80 percent of the annual heating and cooling bills of a certain home in the north-eastern U.S. in this region, the yearly cost of conventionally cooling and heating a 2,000 square foot house is about $2,500.
Suppose you are appointed to chair the Federal Reserve. Your twin goals are to maintain low inflation and to stabilize economic activity- that is, to keep output at potential. Why are these appropriate goals for monetary policy?
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