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Question: Consider two goods, widgets and gzots, which can be taxed to generate government revenue. The demand elasticity of widgets is 0.5 and of gzots is 1.2. For each good the supply elasticity is infinite (horizontal supply) and the equilibrium price before the tax is imposed is $2.25. The government proposes a tax of $0.25. What is the ratio of revenues to deadweight loss for each good? What principle does this demonstrate? If only one of the goods is to be taxed, which should it be?
you are a monopolist producing widgets for simplicity assume that you produce themat zero cost and maximizing your own
The competitive equilibrium rent in the city of Lowell is currently $1,000 per month. The government decides to enact rent control and establish a price.
Explain. What if Brant was a minor at the time of the sale but did not decide that he wanted the coin collection back until a year after he had turned eighteen?
Identify and list all of the sustainability stakeholders at Top Shelf. Does each group have equal weight throughout the program development process? When should each be brought into the discussion?
How many children have to come to KES each week for it to break even? How many tickets must it sell each year to break even?
This assignment requires you to compile Parts 1, 2, and 3 into one document, which will be your final report on the global aspects of your selected company.
What is total revenue if Knoebel's does not price discriminate? What is the optimal price to charge teenagers and seniors if the Knoebel's does price discriminate? What is total revenue if Knoebel's does price discriminate?
The prisoner-of-war camp described by Radford in the text (Application Box 7.1) periodically received large shipments of cigarettes from the Red Cross or other sources. How did cigarette shipments affect the price level (the prices of goods in terms ..
Discuss whether you would recommend this quantity as the manufacturing plan or the quantity found using the simple three year moving average in step two and why.
If the median voter theorem applies here, what budget decision will result - When leisure is a normal good, the income effect from an increase in wages is manifest.
Following are some compounding and discounting problems: At 12 percent simple interest, what does $230 grow to in two years?
Suppose that no student had an educational debt of $150,000 or more upon completion of his or her residency, so that the last class in the relative frequency distribution would be 100,000 to 150,000. Summarize this distribution graphically by cons..
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