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1. The marginal benefit (demand) curve for pollution for an industry is P=100-4*Q, where Q is emissions in tons. The current emissions tax (price) for pollution is $40/ton. Regulators are curious if a 10% decrease in the pollution tax will lead to a disproportionate percentage increase in emissions. You calculate the elasticity of pollution demand and conclude (choose one):
a. Demand is elastic. A reduction in the tax will lead to a disproportionately large increase in emissions.
b. Demand is elastic. A reduction in the tax will lead to a smaller than proportional increase in emissions.
c. Demand is inelastic. A reduction in the tax will lead to a disproportionately large increase in emissions.
d. Demand is inelastic. A reduction in the tax will lead to a smaller than proportional increase in emissions.
baumol''s sales maximasation model
A 1500 word research paper on the economic, social or environmental effects of the widespread use of robots in factories (this meets Learning Outcome 4)
definition
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Where minimum efficient scale is very huge for capital intensive operations, it may be more cost effective to allow one company to spread its fixed costs over a very huge number of
what is basing point
What are the costs and difficulties of such an operation? The direct costs are administrative, cooperative and storage costs, whereas the societal costs include misallocation,
Money facilitates market activities and is essential in complex market systems. With money people can avoid the problems associated with coincidence of wants. Between, these pro
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