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1. How is elasticity related to the revenue from a sales tax?
2. According to Exhibitor Relations Co., in 2006 average movie ticket prices were $6.55 and attendance was 1.4 billion; in 2007 ticket prices were $6.88 and attendance was 1.41 billion.
a. What happened to total revenue from 2006 to 2007?
b. If you were to estimate elasticity from these figures, what would your estimate be?
c. What provisos would you offer about your estimate of elasticity?
Compute the cost to the government of this operation.
Based on the kinds of products or services they produce, what kinds of firms or individuals might be attracted to a country, or state, that relies primarily on sales taxes as opposed to income and payroll taxes?
Suppose the two firms merge into a single firm. The profit-maximizing price is $13 and the average cost is $12. Illustrate with a graph.
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A man borrowed 750 dollars from a bank. He agrred to repay the sum at the end of 3 years, together with the interest at 8% per year. How much will he owe the bank at the end of 3 years
What kind of argument based on asymmetric information could support the claim that free meals (an in-kind transfer) are better than the cash handout? Can such an argument apply to free education?
What is the single difference estimate of the effect of the curfew on the absenteeism rate? Write the complete regression equation for single differences using the table above
This question considers a closed economy Keynesian model that is augmented to include transfers payments to consumers (Tr = Transfers) that increase consumers' disposable incomes and lower government savings.Derive and calculate the Keynesian mult..
Suppose the Lexington mayor caps the amount police can ne speeding motorists at $500. The police vow to step up enforcement in order to cintinue to deter speeding. How high must the probability of being caught speeding.
How does this affect world agricultural markets? Support your findings with additional academic references.
Jon Breeks quit his job in a bicycle shop, where he earned $15,000 per year, to become a graduate student in economics. At the university he attended, he spent $2,000 on books, $1,000 on cough medicine, and earned $12,000 as an economics instructo..
Define inflation. Assume that you live in a simple economy in which only three goods are produced and traded: fish, fruit, and meat. Suppose that on January 1, 2007, fish sold for $2.50 per pound, meat was $3.00 per pound, and fruit was $1.50 per ..
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