Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Imagine a world with two individuals, a rich one denoted by R, and a poor one denoted by P. Both individuals consume gas, and their demands are given by QR = 100 - 0.5P and QP = 60 - P respectively, where P is the price of gas, and QR and QP are the quantities consumed. Imagine the price of gas is $40. The government wants to introduce a carbon tax of $10 per units of gas consumed, but is concerned about the impact it will have on the poor individual. (a) Is it possible to collect new tax revenue, and at the same time guarantee that the poor individual will not be made worse-off by the new carbon tax? Be specific, and make sure you calculate the final tax revenue. Assume the government is able to observe who is poor and who is rich. (b) So far, we have assumed that the supply of gas was perfectly elastic. Imagine that the supply was no longer perfectly elastic, would it be easier or harder to guarantee that the poor individual is not made worse-off by the new carbon tax? Be specific; using a graph may be helpful.
1. Explain the difference between general-equilibrium models and partial-equilibrium models. How are the numbers of endogenous and exogenous variables related to whether a model is a partial-equilibrium or general-equilibrium model?
Draw up the payoffmatrix for game and do PA and LA have dominant strategies? Explain your answer.iii. What is the Nash equilibrium? Explain your answer.
What challenges would face the Greek government if they wanted to undertake fiscal policy to address the problems described in b?
Describe and discuss; Use the concepts of economies and diseconomies of scale to describe a firm's long run Average Total Cost Curve.
At what level of L does the average product reach its maximum and does the total product curve have a region of increasing marginal returns?
Short and Long-term costs business comparisons. Select directly comparison business concepts and generally discuss the FC, VC, break-even quantities, economies of scale and diseconomies of scale for each.
Reconsider the "double marginalization" model. Solve for the equilibrium input price and final price when there are N downstream firms compete in Cournot fashion.
Chris eats one hamburger and washes it down with one beer. He will not consume an additional unit of one item without an additional unit of the other.
if the price elasticity of demand for a product is -5, and the income elasticity of demand for the product is 2.5. If a .5% decrease in product price as accompanied by a 1% decrease in consumer income, the firm's total sales will increase, be the ..
what are the expressions for AC's total revenue ,marginal revenue, total cost and marginal cost as a function of output? what is AC's fixed cost and what is the variable cost?
Suppose that the city of New York issues bonds to raise money to pay for a new tunnel linking New Jersey and Manhattan. An investor named Susan buys one of the bonds on the same day that the city of New
Identify the choice that best completes the statement or answers the question and table shows a game played between two players, A and B. The payoffs in the table are shown as (Payoff to A, Payoff to B).
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd