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Assume that the government places a 50 percent tax on widgets. Neither the demand for widgets or supply of widgets is perfectly elastic or inelastic
Draw a graph showing how the tax will affect the market.
Where does the incidence of the tax lie? Explain.
Describe a skimming price and a penetration price, and advise them whether they should charge a skimming price or a penetration price, with supportive reasoning for and against each pricing alternative.
Suppose he is offered fair insurance with a $3000 deductible. What premium will he pay and what will be his expected utility with insurance.
One of the central ideas taught in econonimics is that fixed costs are sunk costs, and that fixed cost are irrelevant to current decision making. Show why this true through the use of calculus and the idea of profit-maximization.
How did the enclosures law fuel the Industrial Revolution in Great Britain? Would you agree with Karl Marx in saying that the Industrial Revolution and its capitalistic foundations negatively affected the working classes?
Elucidate how the investor's curves would appear if she adopts the 50:50 strategies but would not accept any additional return.
Assuming sum-of-years digits depreciation, what book value will Model-I have after two years.
which of the 3 determinants of macro performance (internal market forces, external shocks, and policy levers) would you consider the most important in terms of gauging the success/failure.
As medicines which with brand names that the man recognise from television commercials sell for more than the unadvertised versions. elucidate in economic terms this perplexing situation to the father.
Assume 1990 to be the base year. If by the end of 2004 a country's export price index rose from 100 to 130 while its import price index rose from 100 to 115, its terms of trade would equal 113. Why?
During course of twentieth century, average workweek in United States has gotten shorter and Americans have enjoyed greater amounts of leisure time. How has this development affected potential GDP and labour productivity.
Subjective definition of probability is:Select one:A. a weighted average of different peoples' degrees of certainty of an event's occurringB. a theoretical probability distributionC. a person's degree of certainty of an event's occurringD. an expecte..
Suppose each government has a target level of output of 125 and that each government increases government spending by the same amount.
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