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The US government decides to subsidize solar panels. For each unit sold, the government pays $T to the buyer. Using a graph, show how this subsidy affects i) consumer surplus, ii) producer surplus, iii) tax revenue and iv) total surplus. To get credit, please label the axis, all the lines and mark with letters the relevant areas.
Does the subsidy lead to deadweight loss? If it does, show the deadweight loss in the graph and explain using your words why a deadweight loss might arise. If the subsidy does not lead to deadweight loss, explain why.
Island Economy: Consider an economy as a sea with islands of local markets. Each household produces goods and sells them on one and only one of the arrays of these markets. Go
The price of milk is usually much less expensive in a grocery store versus a convenience store. Using economic terminology, explain why people purchase milk at convenience stores.
THEORY OF COSUMER BEHAVIOUR: BASIC THEMES: We elaborated two classical theories (viz. Cardinal Approach and Ordinal Approach). In ordinal approach discussing the indifference
Iso-quant: The dots in the above Figure denotes the various combinations of (L, K) that the producer can pick up from form to produce. Among these combinations, there can be t
Working of IFC: The IBRD loans are available only to member-country governments or with the guarantee of member-country governments. Further, IBRD can only make a loan but it
how slustky equation provides neat analytical expression for substitution and income effect?
1. Calculate price elasticity of demand and supply for the following functions when (a) P=8 and (b) Q=6. i. P= 40 - 0.5Q ii. Q= -40 + 0.75P iii
explain the concept of producers'' equilibrium
Borrowings: The widening fiscal gap led to a steep rise in the outstanding liabilities of the Central Government. The outstanding domestic debt of the Central Government as a
Concepts of Income and Substitution Effects: Change in demand for a good due to one unit change in price of that good for given prices and money income is known as own price
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