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Suppose the elasticity of demand for luxury cars is -1.5. The elasticity of supply for luxury cars is 2.5. The elasticity of demand for compact cars is -.90, while the elasticity of supply for compact cars is 1.25. a. The government imposes a tax of $500 per car on the producers of the cars. How much has the after-tax price changed in each market compared to the non-tax case. b. Suppose the untaxed market equilibrium price and quantity is $75k and 2 million, respectively, for the luxury car market, and $25k and 10 million, respectively, for the compact car market. What is the deadweight loss in the market for all cars resulting from the tax? c. Use the information from b. to continue. Suppose the government eliminates the tax on compact cars, and raises taxes on the luxury cars to roughly make up for the lost revenue. Since there were 5x as many compacts as luxury, the government raises the tax on luxury cars by a factor of 5 to $2500 per car. Calculate the deadweight loss in the car market now. d. Provide a brief explanation for your result in c in comparison to b.
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.
Jerry bought a house for $400,000 and made an $80,000 down payment. the rest of the cost was paid with a 30 year loan. Payments were paid monthly. The nominal annual interest rate was 6% after 10 years he sold the house and paid the remainder of the ..
1. question is based on the table below showing the marginal utilities of good x and good ybased on the table above and
research and discuss the differences and importance of ipps opps mpfs and dmepos. which provider type is paid by which
Find the willingness to pay for the football team and find the indifference curves for both North BEH and South BEH as a function of W and R.
Compute the elasticities for each independent variable. - Determine the implications for each of the computed elasticities for the business in terms of short-term and long-term pricing strategies.
(3) z-score in complexchoicesAssumethere are 25 subjects that have to find 4 identical wines in a sample of 20 wines.(a) What is the random chance for any person of being right?
Draw a graph that shows increasing Average total cost from ATC to ATC prime. include Marginal cost change, marginal revenue and the supply and demand curve that reflects this change.
Conduct a literature review to how to perofrm a learning needs assessment. Submit a minimum of 15 item annotated bibliography of literature review on performing a learning needs assessment
general electric which produces light bulbs, jet engines, washing machines, and so on, kinko's which has a photocopy store near many colleges and univesities, usx corporation which owns ore and coal mines, coke ovens, blast furnaces, mills, and foun..
Instead of asking for a price, you offer to give them the product in exchange for 50% of their cost savings. Describe the information asymmetry, the adverse selection problem, and why soft selling is a successful signal.
Which of the following statements is true of substantive due process?
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