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1. What percentage of a tax will the demander pay if price elasticity of supply is 0.3 and price elasticity of demand is 0.7? What percentage will the supplier pay?
2. Which good would an economist normally recommend taxing if government wanted to minimize welfare loss and maximize revenue: a good with an elastic or inelastic supply? Why?
What is now the after-tax return on capital invested in country 1? What is the equilibrium interest rate and allocation of capital across countries? Find the total income received by capitalists and workers and the tax revenues in country 1 as a f..
Holiday Fruit Company buys oranges and processes them into gift fruit baskets and fresh juice. The company grades the fruit it buys on a scale from 1 (lowest quality) to 5(highest quality).
For those 50 or older, membership in AARP, formerly known as the American Association of Retired persons, brings numerous discounts for health insurance, hotels, auto rentals, shopping, travel planning, and so on.
In this question we are going to incorporates investment in human capital by agents, in a form similar to physical capital. Labor units are replaced by human capital units Y = AK?(?H)1?? where • H ? Units of Human Capital • ? ? [0, 1] ? Fraction of..
Suppose you own a movie theater and most of your costs (the band, security, the land rental, etc.) are independent of how many people show up. What is likely to be the point elasticity of demand at the price you decide to charge
Why is it desirable for a country to have a larger GDP? Give an example of something that would raise GDP and yet be undesirable.
Just The Fax, Inc. (JTF) has hired you as a consultant to analyze the demand for its line of telecommunications devices in 35 different market areas. The available data set includes observations on the number of thousands of units sold by JTF per ..
Enter the value of the test statistic in the box below (rounded to 2 decimal places). 0 using a t-test with a 5% significance level and enter the critical value in the box
Give two examples of economic issues that are primarily microeconomic and two examples that are primarily macroeconomic. What is the general difference between microeconomics and macroeconomics?
What steps could be taken to make the federal individual income tax more progressive? Less progressive? What advantages does the income tax have over other taxes in terms of attaining a desired degree of progressivity?
As part of a marketing research committee for your organization, you have been assigned the task of preparing a 700-word research paper about current microeconomic thought and theory.
Based on data obtained by department agriculture, the relationship between Cows Total output Of milk & amount of grain It is fed is as Follow: Mount of grain(1200/1800/2400/3000) Amount of milk (5917/7250/8379/9317)
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