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Government increases the taxes on car ownership. Explain the possible market outcomes of such a decision.
As this is a tax paid by owners, and therefore not levied indirectly via suppliers in selling cars, one can expect reduce in the demand for cars and enhance in demand for possible substitutes. (Basically, the ownership tax may be regarded as a complement to car ownership.) One could also expect a reduce in demand for complement goods for cars, like gasoline, insurance, servicing, etc
a) Explain the conditions under which a monopolist is able to price discriminate. b) Demonstrate the relationship between a firm's marginal revenue function and its relationship
World Trade Organization: An international economic organization based in Geneva, Switzerland,formed in 1995 which is dedicated to promoting greater trade and investment among its
Why short run average cost curve is ‘U’ shaped
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average-marginal relationship
Participation Rate:Proportion of working-age individuals who decide to ‘participate' in the labour force, by either being employed or actively seeking work. Precise definition of w
Q. What do you meant by Real GDP? Real GDP:Value of total gross domestic product (which is, all the services and goods produced for money in the economy) adjusted for effects o
how to compute the price of a laptop increase of 20% and there is a 40% drop in the aquantity demanded
Problem 1: How can a manager of a supermarket maximise total revenue using various concepts of elasticity of demand? Use examples to illustrate. Problem 2: What are the
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