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Suppose the original before-tax demand curve for CD players is P = 100 - 2Qd. Suppose further that supply is P = 5 + 3Qs. Now suppose a $5 unit tax is imposed on consumers.
a. What is the before-tax equilibrium price and quantity?
b. What are the after-tax equilibrium prices and quantity?
c. How much tax revenue is raised?
d. Would the answer in b change if the tax was levied on suppliers? Why or why not?
If demand is represented by Qd = 50 - 0.5P + 0.005I where I = $50,000 and supply is represented by Qs = 100 + 0.4P - 2W where wages (W) = $15.00, compute the equilibrium price and quanity. What happens if income falls to I = $40,000?
What are some econometrics texts that you would recommend for me? I learned some intro econometrics in a course which taught from Studenmund but was extremely bored.
Pick a brand. Assess its efforts to manage brand equity in the last five years. What actions has it taken to be innovative and relevant? Can you suggest any changes to the company’s marketing program?
Draw a Production Possibilities Frontier(s) to represent each of the following situations. The goods in question are ice skates and downhill skis.
According to the Coase Theorem, if transactions costs are low then a private market (that is, an unregulated market) is efficient.
If 23 women aged?18-24 are randomly? selected, find the probability that their mean systolic blood pressure is between 119 and 122 mm Hg.
If the CPI increased from 215 to 218 between 2012 and 2013, while the nominal interest rate increased from 3.25% to 3.80%. A. What is the inflation rate between 2012 and 2013? B. what is the real interest rate in 2013?
How does the president most directly influence the Federal Reserve System? The Federal Reserve includes twelve. Which is an example of a natural monopoly? Which of the following circumstances usually comes before a period of economic contraction?
Can there be a deficit on Current Account and a deficit on Capital Account at the same time? Explain. Explain why currency depreciation leads to an improvement in a nation's balance of trade. How is the exchange rate determined in a freely floating r..
When diminishing marginal returns set in total product:
A consumer has utility function given by u(x_1, x_2) = Squarerootx_1x_2. Suppose the price of good 1 falls from $5 to $2. while the price of good 2 and the consumer's income remain constant at $10 and $100, respectively. Find the substitution, income..
Your friend Gail is an electrician who does repair and installation work for small businesses and homeowners. She often has customers ask her if she will accept a credit card in payment for her services, but she has been reluctant to set up a credit ..
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