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if the inverse demand curve is p=120-Qand the marginal cost is constant at 10, how does charging the monopoly a specific tax of 10 per unit affect the monopoly optimum and the welf
Wealth Tax: A tax in that owners of specific forms of wealth (likereal estate, financial wealth, or inheritances) should pay a specified proportion of that wealth to government, us
REAL BUSINESS CYCLE THEORY: The parable that motivates this discussion originated with Edmund Phelps and invites you to think that all men (and women) are islands. They have p
Identify the four institutional requirements of markets. The four institutional needs of markets are: Pprivate property, Social institutions of trust, Good physical i
1. Explain- a. Tragedy of commons b. Free rider problem c. Diminishing marginal utility d. Diseconomies of scale e. Tax incidence f. Elasticity g. Gains from
How can we identify that something is elastic or inelastic? When demand of any commodity does not change with the change in price of that commodity that item is said by inelas
a 12 page project
Differentiate between real and nominal variables. In economics, the distinction among nominal and real numbers is often made. Nominal variables -- like nominal wages, interest
what are the properties of marshallian demand function
Question 1: Using relevant examples to illustrate your arguments analyze the different economic impacts of tourism and discuss the different ways in which government can maximi
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