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Assume that gasoline retailing industry is perfectly competitive, constant expenses, and in long run equilibrium. If the government unexpectedly levies a 5-cent tax on every gallon sold by gasoline retailers, depict what will the effects of the tax be in the short run on industry out puts and price? Will the price rise by the full five cents in the short run? In the long run? How would your answer change if the industry was increasing cost?
Disscuss the contrasting views of the Keynesians and the monetarists with regard to an appropriate.
Describe (in a sentence or two) the short run profit maximization condition when labour is the only variable input? What will happen to the labour demand if price of the output goes up?
How many cases of peaches will be produced per week during the growing season, and what will the selling price per case be if producers ignore the marginal external costs imposed on others?
Graph the accompanying demand data, and then use the midpoint formula for E d to determine price elasticity of demand for each of the four possible $1 price changes.
Are marketing ethics critical to successful marketing. What do you think marketing ethics is central to building brand loyalty.
The Hull Petroleum Company and Inverted V are retail gasoline franchises that compete in a local market to sell gasoline to consumers.
Explain how does the increase in the after-tax price depend on the price elasticity of demand
Depends on the data above, describe why public health officials generally advocate the use of cigarette taxes to reduce teenage smoking.
Discuss the impact of these relations in the economies of Europe, China, and the U.S. Create a table in Microsoft Word to present the data and your analysis based on the data.
Identify that a risk averse agent offered terms worse than actuarially fair will not choose to insure fully.
Will the homeowner retrofit also which insurance policy will the homeowner buy. Explain will the insurance company make a profit (on average) given the homeowners choice.
Compute the gain from trade but you should discuss how comparative advantage is used.
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