What is the economic effect of taxing this surplus

Assignment Help Business Economics

Reference no: EM13981480

The best answers eliminate the puzzle concisely.

1. Explain the short-run effects of eliminating rent control on apartments.

2. In a competitive industry, with competitive supplies of labor and capital goods which have only normal gains, which factor obtains the "producer surplus"?

What is the economic effect of taxing this surplus?

3. Is there anything a government can do to increase the productivity of an industry with a competitive free market? Explain.

4. How does a minimum wage function as a tax?

Who is taxed?

Who ultimately pays this tax?

Is there a better way to increase the income of low-wage workers than imposing a minimum wage? Explain.

Reference no: EM13981480

Questions Cloud

Unemployment imposes serious hardship : Unemployment imposes serious hardship on out-of-work individuals and their families. What are the costs of unemployment to society as a whole? (Keep in mind the production possibilities curve.)

Nd the magnitude of the magnetic force on the wire : A straight wire carries a current of 10 A at an angle of 30o with respect to the direction of a uniform 0.30-T magnetic field. Find the magnitude of the magnetic force on a 0.50-m length of the wire.

Explain the meaning of the excess burden : Explain the meaning of the "excess burden," also called the "deadweight loss." Do general taxes on sales, income, and produced wealth cause an excess burden? Explain. What is the economic significance and consequence of the excess burden?

Equal to the price set by the profit-maximizing publisher : If an author earns a royalty (income) of 10% of the total sales revenue of his or her book, and all the author cares about is maximizing money income on that book, then does the author prefer that the price of the book be greater than, less than, or ..

What is the economic effect of taxing this surplus : The best answers eliminate the puzzle concisely. Explain the short-run effects of eliminating rent control on apartments. In a competitive industry, with competitive supplies of labor and capital goods which have only normal gains, which factor obtai..

Regression analysis to model the damage : Suppose that an analyst for an insurance company is interested in using regression analysis to model the damage caused by hurricanes when they come ashore. The re sponse variable is Property Damage, measured in millions of dollars, and the explana..

Compete with these other companies : The company president recently asked the controller, "Why can't we compete with these other companies? They're selling pumps just like our regular model for $212. That's only two bucks more than our production cost. Are we really that inefficient?..

How far apart is each maximum : A) 650nm light is incident on a diffraction grating of 1200 lines per cm. If the wall is 5m away from the diffraction grating, how far apart is each maximum?

What is nash equilibrium outputs and resulting price : Joe and Rebecca are small-town ready-mix concrete duopolists. The market demand function is Qd = 10000 − 100P where P is the price of a cubic yard of concrete and Qd is the number of cubic yards demanded per year. What is Joe’s best response function..

User Account

All Pages