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You are an assistant to a senator who chairs an ad hoe committee on reforming taxes o telecommunication services. Based on your research, AT&T has spent over $15 million on related paperwork and compliance costs, Moreover, depending on the locale, telecom taxes can amount to as much as 25 percent of a consumer’s phone bill. These high tax rates on telecom services have become quite controversial, due to the fact that the regulation of the telecom industry has led to a highly competitive market. Your best estimates indicate that based on current tax rates, the monthly market demand for telecommunication services is given by Qd=250 -5P and the market supplying (including taxes) is Qs=4P-110(both in millions) where P is the monthly price of telecommunication services. The senator is considering tax reform that would dramatically cut tax rates, leading to a supply function reform that would dramatically cut tax rates, leading, to a supply function under the new tax policy of Q^s= 4.171P -110. How much money would a typical consumer save each month as a result of the proposed legislation?
To properly justify the governmental provision of a public good, it must be the case that the __________ and that __________.
A medical device company has a monopoly on a certain class of cardiac implants. Demand for the implants is given by P=28000-5Q and marginal revenue is given by MR=28000-10Q. The total fixed costs for the implants division is 50000 and the marginal co..
Assume that two firms sell differentiated products and face the following demand curves: = 15 − + 0.5 and = 15 − + 0.5. Derive the best response function for each firm. Do these indicate that prices are strategic substitutes or strategic complements?..
Briefly explain what influences the supply of labor used in this business. Briefly explain what influences the demand of labor that this business uses. What might be some ways that this business could reduce its costs per unit (ATC)? How might the bu..
If country desires to smooth consumption, explain how much it should borrow in period 0. Illustrate what will level of consumption and trade balance is from then on.
What is market failure? If a market failure is present, does this imply that government intervention will lead to a more efficient allocation of resources? Why or why not?
Presently, AFC has on its medical staff 10 doctors and 10 nurses. The daily wage of a doctor is $600, whereas a nurse is paid only $200 a day. Write the equation for the medical isocost of AFC.
Suppose A and B have the following (inverse) demand curves for fruity pebbles: P = 150 – 3QA P = 150 – 1.5QB. If they are the only two people in the fruity pebbles market, then the market demand is:
Two canadian workers, Dan and Nikki, can each produce stoves of apples. Dan can produce either 140 pounds of apples or 1 stove per month. Nikki can produce either 80 pounds of apples or 1 per month. what is the most of each good that canadians can co..
If demand decreases and supply increases simultaneously then for sure. Which of the following will increase the demand for chicken?
Elucidate the drastic change also Illustrate what this meant for the U.S. population.
Generate options for solving the problem in the scenario. Evaluate the options for solving the problem. Decide on the best option for solving the problem. Explain how you will implement the decision made and reflect on whether this option was the mos..
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