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-What is your opportunity cost for taking this class?
-If the government were to increase taxes on gasoline, what will happen to the total government revenue? Why? -What are you assuming about the elasticity of the demand curve of gasoline? What is the formula for elasticity? Would the government make more tax revenues taxing airline tickets instead? Why or why not? What assumptions are you making about the elasticity of airline tickets? Make sure to graph the demand curve for both gasoline and airlines.
-List and give an example of each of the four types of market failure (i.e. the reasons that we need government intervention.)
A brewery produces regular beer and a lower carb light beer. steady customers of the brewery buy 10 units of regular beer and 15 units of light beer monthly. while setting up the brewery the management decided to produce extra beer, beyond that neede..
If a country is currently producing 11 units of health care and 16 units of education, what is the opportunity cost of producing 5 more units of education?
Illustrate what is the Consumer Surplus in the market. Illustrate what is the Producer Surplus in the market.
What is bribery, and what are the issues caused by bribery? How would you deal with bribery if you were faced with the issue?
Supposed objective function is changed to, do you need to re-graph feasible region of this LP. Why. What is solution for new LP. Is it unique.
The owner of a corner lot wants to find a use that will yield a desireable return on his investment. If the owner wants a minimum attractive rate of return on his investment of 15%, which of the two alternatives would you recommend?
q1. suppose a health expenditure function is specified in the following manner e 500 0.2y where e represents annual
Illustrate what is the present macroeconomic situation (e.g. worrying about inflation also/or recession) in the U.S.
What is the least you would be willing to accept to sell your house? c. Why are the answers to the above two questions different?
q.your oil company must decide whether to drill a well at a cost of 500000 on a piece of leased property or to sell the
If the price of soybeans increases and all other crops’ prices remain the same, then:
the various types of vehicles that can be used by clients to reduce the various kinds if taxation.
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