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The demand for football tickets is given by Q = 360 – 10P, and the supply of football tickets is given by Q = 20P (where P and Q are the market price and quantity respectively). i. Calculate the equilibrium price and quantity in this market. b. Now suppose that a $4 unit tax is imposed on sellers of football tickets. i. Calculate the new equilibrium price and quantity in the market for football tickets. ii. How much of the $4 unit tax is paid by the buyers? iii. How much of the $4 unit tax is paid by the sellers? [3 points] iv. How much revenue does government collect from that tax?
1. Who are the three best-known quality pioneers? Describe and then compare their individual contributions to quality. 2. Look through the ITT Tech Virtual Library and identify a major company that adopted one or more of the pioneers' strategies. Sug..
q1. at the time of rusals concern primary aluminum prices were relatively high at 3600 per metric ton. at this price
American (domestic) current event, firm, or market. Foreign (outside of the U.S.) current event, firm, or market. Favorite Case Study from the Modules Forum. How has this course changed your thinking about the economy & your own economic approach t..
Describe the concept of strategic interaction in game theory and how it differs from single agent or player games (e.g. a monopoly or an individual maximizing their utility)
Suppose the following system of equations: MAC = 60, 4E, MD = 2E, where E=level of emission per month. Solve for socially efficient equilibrium. Show it graphically. Compute total damage (TD) at this equilibrium.
How might the university administrator lure the college athlete to choose them over others? Would this type of price control be considered a price floor, a price ceiling, or neither?
The state government collected all taxes due, but its tax revenues were equal to $40 million each year. What happened to the sales tax base between 2006 and 2007? What could account for this result?
a marketing order for oranges has a fixed total supply of q1000 crates a month. demand in the fresh orange market is qf
What would the annual percentage change in velocity have to be on average for the quantity theory to hold.
The labor supply function is given by N=1000+12w and labor demand is N=2000-8w. Find the equilibrium level of employment and wage. Given existing technology and the capital stock, output is given by the function Y=100N. Does the function exhibit dimi..
How long will it take for Avataria with a growth rate of 6% to triple its income? What about Twilightia with a growth rate of 18%? Will it be correct to say that Twilightia will triple its income 3 times faster than Avataria? If no, then what is t..
the combined production of East also West Wakovia will be Elucidate how much tobacco also Elucidate how much corn.
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