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The U.S. Tax Code is 12,000 pages long. Do you think we need that many pages to collect revenue for Uncle Sam? Do you think that you should need an expert to figure how much you owe in taxes? The folks in Washington who write the tax laws have to hire experts to figure their taxes because they don't understand the laws that they have written. What would be the best tax system?
Given this information, evaluate the following statement: Airlines could have the same effect on demand by eliminating their frequent flyer programs and simply lowering the average ticket price by 10 percent.
You are considering a luxury apartment building project that requires an investment of $12,500,000. The building has 50 unites. You expect that the maintenance cost for the apartment building will be $250,000 in the first year, and to rise to $300,00..
Consider two labor markets, A and B. Wages in labor market A rise. This could be due to
Which of the following is NOT involved in regulating financial markets?
The average corn price received by farmers in 1950 was $1.52 and in 2014 it was $4.11. The Consumer Price Index (CPI) with a base period of 1982 through 1984 were 24.1 and 236.7 for the same years, respectively. What are the corn prices for those yea..
Consider a monopolist that produces a good at a constant marginal and average cost of 5$. The market demand is given by p=53-Q. find the deadweight loss and the consumer surplus and the elasticity of demand (absolute value) at the optimal output
Suppose Bob owns a pizza place in a competitive market. If an additional worker will cost Bob $200 and offers marginal productivity of 40 pizzas, what is the marginal cost of producing a pizza? Show your work and explain your reasoning.
Draw a new graph of labor market equilibrium and label values for the initial real wage and employment. Draw a graph of the firm’s marginal product of labor, assume a fixed value for the real wage, and describe how the firm decides how much labor to ..
A project has cash flows of -$12,000 in Year 1, +$5000 in Years 2 and 3, -$2000 in Year 4, and +$6000 in Years 5 and 6. Use an interest rate of 12%. Find the interest rate that gives a net present value of zero.
According to the production function, with 300 labor hours, illustrate what is this economy's capacity to produce
Why might these firms agree to form a cartel. If such a cartel is formed, use the prisoner's dilemma to explain why it may or may not survive.
Many factors related to social class and social influence may ultimately impact one’s decision to purchase the new Hyundai luxury brand. Choose one of these factors and explain why you believe it would impact the luxury car purchase decision.
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