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1. Given the elasticities in question 2. and assuming that higher gasoline taxes would not shift either the SUV supply curve or the hybrid supply curve,
a. explain how higher gasoline taxes would affect the equilibrium price and quantity of SUVs.b. explain how higher gasoline taxes would affect the equilibrium price and quantity hybrids. Use supply and demand curves to illustrate your answers.
4. Given your answer to question 3., how would higher gasoline taxes affect the price of SUVs relative to hybrids? Explain.
5. Using your answer to question 4., explain why an automaker whose production possibilities frontier (PPF) exhibits constant opportunity cost would stop producing SUVs and completely specialize in the production of hybrids.
6. Using your answer to question 4., explain why an automaker whose production possibilities frontier (PPF) exhibits increasing opportunity cost would produce more hybrids and fewer SUVs, but would not completely specialize.
Determine the three tools the Federal Reserve uses to change the money supply and interest rates in the economy? Which of these tools is most important and explain your answer.
Explain how does the increase in the after-tax price depend on the price elasticity of demand
Dr Leona Williams a well know Plastic Surgeon, has reputation for being one of best surgeons for reconstructive nose surgery. Dr Williams enjoys a rather substantial degree of market power in this market. She has estimated demand for her work to b..
Use the following information from a company's pro forma financial statements to calculate the following profitability ratios for the firm, assuming that all stocks are common stocks:
Explain why user cost, or scarcity rent, arises in the intertemporal allocation of a depletable resource such as minerals, and some types of energy and aquifer water resources.
Let's say, country A and B both consume and produce only food and clothing. Both countries use only labor to create these two products.
Assume the problems of maximizing solves the first problem if and only if it also solves the second problem.
The inspection equipment has a 6-year useful life and no salvage value. Use a nominal 18% interest rate in your calculations. How much can Robot afford to pay for equipment if the wages and worker benefits were to have been paid monthly?
Assume a indiidual has $8 to spend only on apples and bananas.
Huntington suggests that the emerging global economy will increasingly be faced with violent clashes between civilizations. Elucidate what Huntington means by the term civilization and why such clashes may be expected.
Discuss how monetary policy works to help achieve economic goals and discuss how national economies interact with each other to achieve their individual economic goals. (This is a question about foreign trade
Save their domestic industries from facing any competition. It is an unrealistic approach as all the countries endeavor to achieve the same objective.
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