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Question: The demand curve for an Uber ride from Cal Poly to the SLO County airport during a weekday morning is given by PD = 28 - 0.4Q and the supply curve is given by Ps = 1 + 0.5Qs.
a) What is the dollar value of consumer surplus at the equilibrium?
b) What is the dollar value of producer surplus at the equilibrium?
c) If a $9 tax is imposed on Uber rides, what will be the resulting price paid by riders and what will be the price received by Uber? What share of the tax burden will fall on Uber riders?
d) What is the dollar value of the deadweight loss from this tax?
Under what conditions it might be justified to give tariff protection to an infant industry?
Suppose we are analyzing the market for hot chocolate. The price of coffee for consumers, a substitute for hot chocolate, rises.
For a particular product, Country A's supply and demand are represented by the following functions:
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q.suppose the consumption of gold offers people a marginal utility that diminishes as that person consumes more gold.
What is the difference between diminishing marginal returns and diseconomies of scale?
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Construct a Press Release setting forth your company's position. Summarize the issues, interests, institutions, and information
Compare the system by using a specific country with a market system and the one with a command system.
The Future Flight Corporation manufactures a variety of frisbees selling for $2.98 each. Sales have averaged 10,000 units per month during the last year. Recently Future Flight's closest competitor, Soaring Free Company, cut its prices on similar fri..
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