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Repeat question 6 assuming the tax is placed on the buyers of milk. Does it matter who pays the tax?
Question 6
Suppose the U.S. government imposes a $1 per gallon of milk tax on dairy farmers. Using the demand and supply equations from question 1:
a. What is the effect of the tax on the supply equation? The demand equation?
b. What are the new equilibrium price and quantity?
c. How much do dairy farmers receive per gallon of milk after the tax? How much do demanders pay?
In a day of production, firms in Angola can produce 200 liters of oil or 100 kilograms of tungsten. Firms in Namibia can produce 160 liters of oil or 60 kilograms of tungsten. Which country has comparative advantage in tungstenabsolute advantage in..
Stephen Zehnder, an enterprising engineer, wants to get into business. He is looking at the following two alternatives. He has compiled the cost data for both alternatives as shown in table below. If Stephen wants to have at least a rate of return..
Suppose there are 100 identical firms with the same marginal-cost curve. Draw the short-run industry supply curve
Suppose that the weights αm from the input to hidden layer are nearly zero. Show that the resulting model is nearly linear in the inputs.
Describe the impact of the following events on the market for autoworkers in Tennessee. (Note that Honda operates a factory in Tennessee.)
Suppose that the Fed's inflation target is 2%, potential output growth is 3.5%, and velocity is a function of how much the interest rate differs from 5%: %^V= 0.5 X (i-5). Suppose that a model of the economy suggests that the real interest rate.
You are looking at the hat market. Hats sell for $15 each, and the variable cost of producing hats is Cv(H)=.25*H^2, with marginal cost MC(H)=.5*H. What is the highest fixed cost you would be willing to pay and still enter the market
Consider a $90,000 piece of machinery, with a 5-year depreciable life and an estimated $5,000 salvage value at the end of its 5-year life. Compute the depreciation schedule and the book values for the equipment by each of the following methods
The price of a cone is expressed in cents, and the quantities are expressed in cones per day. a. Create demand & supply tables corresponding to these equations. b. Graph supply and demand and determine equilibrium price and quantity
Home's currency is the peso and trades at 1 peso per dollar. Home has external assets of $200 billion, all of which are denominated in dollars. It has external liabilities of $400 billion, 75% of which are denominated in dollars.
Assuming that the current production rates are maintained at the three assembly plants, which alternative should management select?
Explain what happens to the coefficient on coll in terms of its magnitude and its statistical significance when points , rebounds , and assists are added to the regression. Why do you think this happened?
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