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If government imposes on the firms in a polluting industry penalties(taxes) that exceed the actual value of the damages done by the pollution, the result is an inefficient and unfair imposition of costs in those firms and on the consumers of their products. Discuss that statement. Use a graph to show how consumers are harmed.
Provide the key provisions of the tax cuts passed through Congress in spring 2003 and explain how would these tax cuts be represented by the aggregate expenditure model and the IS curve
Ceteris paribus, Diet Cola Brand X and Diet Cola Brand Y are substitutes in consumption. The price of Diet Cola Brand Y falls. a. What happens to the demand for Diet Cola Brand X? b. What happens to the demand for Diet Cola Brand Y?
What would like you to do some research and find out what nation would be the most ideal markets for your new product.
What is the income elasticity? Interpret the elasticity in a mathematic and economic context -- what does this number tell you? Is the own price elasticity consistent with economic principles? Explain.
A firm in a perfectly competitive market invents a new method of production that lowers marginal costs. What happens to its output? What happens to the profit it receives and the price it charges a. The firm has an employee who threatens to tell a..
Bill gets utility (satisfaction) from two goods, x and y, according to the utility function u(x,y) = ln(x) +ln(y). While Bill would like to consume as much as possible he is limited by his income, which is 100 dollars.
Illustrate rate of growth in fuel costs justifies going ahead with the insulation plan? Make sure that the rate of growth and the discount rate are aligned in terms of periodss.
Assume government imposed a minimum wage above what otherwise would be the equilibrium wage rate for this segment.
Suppose a firm must pay an annual tax, which is a fixed sum, independent of whether it produces any output-How does this tax affect the firm's fixed, marginal, and average costs?
You observe that output is above full-employment output. Politicians are discussing about the possible reasons. One party claims that this is due to a drop in world oil prices.
The company is risk neutral and so maximizes expected profits net of wages.
Determine which of the following is not one of the basic preconditions for economic growth?
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