Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Assume instead there is uniform taxation, so that all individuals face the same tax price. Recall that along each individual’s demand curve, the price equals the marginal rate of substitution. Thus, MRS = p=k Y/G , The marginal rate of substitution is proportional to income. Assume that income is symmetrically distributed, so that mean income equals the median. *Explain why the majority voting equilibrium will be Pareto efficient. # Now assume that income is not symmetrically distributed, but rather is skewed toward higher incomes, as in Figure 7.5B. Will the majority voting equilibrium still be efficient? Will there be an under – or oversupply of public goods?
Robinson's demand for pineapples is given as Q = 40 - 4P while Friday's is Q = 20 - P. Supply is given as Qs = 6 + P, and Pc = $1. Find equilibrium price, equilibrium quantity, and the amounts Robinson and Friday will both end up consuming.
What is Anna’s optimal choice of comic books and AOG? Illustrate her optimal choice on a graph, using indifference curve-budget line analysis.
How can price and income elasticity measures be used by businesses to help maximize their sales revenue during an economic downturn?
Which of the following affects demand for money?
Answer the following question for each of the following examples: (i) smoking by individuals; (ii) toxic waste production by firms. Is there any externality? If so, describe one possible externality, including references to whether it is positive or ..
What is the capitalized equivalent amount worth, at 8% annual interest compounded semi annually, for a present initial cost investment of $50,000, a series of semi annual positive disbursement of $5,000 that extent to infinity, and in 12 years there ..
A watch manufacturer finds that at 1,000 units of output, its marginal costs are below average total costs. If it produces an additional watch, will its average total costs rise, fall, or stay the same?
Explain the relationship between MR and MC at the profit-maximizing output. Also discuss the relationship between Price and Marginal Cost and price elasticity of demand. Is this level of output economically efficient?
Assume that the level of GDP increased by $100 billion in a private closed economy where the marginal propensity to consume is 0.5. Aggregate expenditures must have increased by.
q. 1. briefly summarize the ingredients determinants of economic growth.2. what phase of the business cycle is the u.s.
Your product fails about 2% of the time, on average. Some customers purchase the extended warranty you offer in which you will replace the product if it fails. Would you want to price the extended warranty at 2% of the product price? Discuss both mor..
You see an advertisement for a book which claims to show how you can make $1,000,000 in investment profits in a year, with no initial investment required and no risk of any loss. The book costs $500. Would you buy it? Why or why not?
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd