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Question: Suppose that the tax (Ti) paid by individual i is the following function of his or her income (Xi):
Ti = 0.1(Xi - 2000) = 0.1Xi - 200
(i.e. there is a flat tax of 10% on all income over 2000). You know that total income in a geographical area containing 100 individuals is $5,000,000. Assuming that all 100 individuals have an income of at least $2,000, what is the total tax revenue?
Assume you are a stock market analyst specializing in the stocks of theme parks, and you are analyzing Disneyland's stocks. The Wall Street Journal reports that tourism has slowed down in the US.
In labor negotiations, failure to reach a contract agreement frequently results in a labor strike or work slowdown. In each of the following situations, identify which side-labor or management-is better positioned to obtain favorable contract term..
The value of cross price elasticity of demand between goods A and B is 0.75, while the cross price elasticity of demand between goods A and C is -1.38. Characterize A &B and A & C as substitutes or complements.
Compare the traditional view versus the view of Ricardian equivalence of the effects of a debt-financed tax cut on:
Describe what Grieder means by "the stark, cruel choice the economic system poses between the present and the future"...ie., what is he referring to? Briefly describe the Nature Conservancy's
describe the circumstances under which a firm chooses a low-cost strategy to attain sustainable competitive advantage.
A prime minister of an emerging country once bragged that he was going to make his country self-sufficient and independent of foreigners. Do the principles of economics suggest anything about how you as a native of that country might have been aff..
let the production function ql 12 k12a what is the elasticity of substitution?b if the production is q l 12 k 12. what
Fora sample of 12 trees, the volume of lumber (in m3 ) and the diameter (in cm) at a fixed height above ground level was measured. Compute the fitted value and the residual for each point.
Draw en Edgeworth box and illustrate. Initial endowement allocation, an indifferens curve for each consumer and the contract curve.
Define Weak Pareto Efficiency and Strong Pareto Efficiency. Add the assumptions and show that an allocation is Weakly Pareto Efficient if and only if it is also Strongly Pareto Efficient
The world is constantly changing. How does the standard of living differ for the average American versus for the average person living in India?
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