Vertical axis and beer on the horizontal axis

Assignment Help Business Economics
Reference no: EM131665819

Mike consumes 20 beers every month. The price of a beer is $1. The government imposes an excise tax of $0.20 per beer and gives Mike an income tax credit of $4/month. Mike's income is $I (choose any number over 30). Draw Mike's budget lines before and after the excise tax and tax credit scheme. (Put AOG on the vertical axis and beer on the horizontal axis.)

Reference no: EM131665819

Questions Cloud

Support management decision making : Select an organization of your choice and describe how a specific database management technology is being used to improve operations.
Develop a strategy the advanced practice nurse : Develop a strategy the advanced practice nurse would use to facilitate teambuilding when putting technology-infrastructure in place.
Case study of rural health care in the economic downturn : Read A Case Study of Rural Health Care in the Economic Downturn and reflect upon the issues identified in Ashe County.
Calculate the growth and price-recovery : Calculate the growth, price-recovery, and productivity components that explain the change in operating income from 2016 to 2017.
Vertical axis and beer on the horizontal axis : Draw Mike's budget lines before and after the excise tax and tax credit scheme. (Put AOG on the vertical axis and beer on the horizontal axis.)
Convex utility indifference curve : Draw a smooth convex utility indifference curve and indicate optimal consumption point for a student who chooses to resell the ticket under (2).
Identify the legal defenses used in this case : What are the elements of that crime? Is there sufficient evidence to believe the defendant guilty of this crime beyond a reasonable doubt? Explain.
Corporations include in their financial statements : 1. Explain how firms raise the funds they need to operate and expand.
Define the number of customers that stanmore can support : Selling and customer-service costs depend on the number of customers that Stanmore can support, not the actual number of customers it serves.

Reviews

Write a Review

Business Economics Questions & Answers

  Analysis of the factors impacting

Examine the production decisions that you would make based on the analysis of the factors impacting the choice of inputs to produce.

  Analyze the various means of taxation available to finance

Analyze the various means of taxation available to finance the government and evaluate the alternatives to taxes. Identify if there is an economic limit to the extent to which the government can increase taxes. Justify your response.

  Spell-checking and correcting an entire website

A parser that scans a local copy of the entire website, ignoring HTML (Hypertext Markup Language)markup, creating a HashMap off all the words used anywhere on the entire website, with a count of how many times each word was used. The list is case-..

  Engineering firm can lease measurement system

An engineering firm can lease a measurement system for $1,000 per month or purchase one for $15,000. The leased system will have no monthly maintenance cost, but the purchased one will cost $80 per month. At an interest rate of 0.5% per month, how ma..

  Kinds of job require the same level of skills

Farm workers in Oaks Farmville face a 1/198 probability of death at work and each of them receives a yearly wage of $61,000. Farm workers in Valley Farm face a 1/54 of death at work. Assume that both kinds of job require the same level of skills, eff..

  Better off or worse off following immigration

Use a diagram to show whether society (including only those who were in the country prior to immigration and not the well-being of the immigrants) is better off or worse off following immigration. Explain your diagram as necessary.

  Considers a consumer who suddenly changes

Considers a consumer who suddenly changes her preferences with regard to air travel,

  Q1 supply and demand for good are given as follows p 1000

q1. supply and demand for good are given as follows p 1000 - 1.5qd p 60 2.5qsillustrate what is equilibrium quantity?

  Dollar rather than allowing the exchange rate to fall

Which of the following choices explains why Japan would want to maintain a fixed exchange rate at 150 yen per U.S. dollar rather than allowing the exchange rate to fall to 120 yen per U.S. dollar?

  What is the real unemployment rate

"Trump Campaign Revives Debate: Is the Unemployment Rate ‘Artificial’?" The Wall Street Journal. "What Is The Real Unemployment Rate?" After reading the articles, draft a response that addresses the controversy over unemployment statistics and how su..

  Increase in the first year with two spending cycles

If taxes were cut by $1 trillion and the MPC was 0.75, by how much would total spending (a) Increase in the first year with two spending cycles? (b) Increase over five years, with two spending cycles per year? (c) Increase over an infinite time perio..

  What is the immediate effect on his labor supply

A student completes his degree and works for a wage rate w. He receives some money from his parents every month to pay for student loans. If there is an increase in his wages (from w1 to w2) then what is the immediate effect on his labor supply? Assu..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd