Farming production function

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Q1. Suppose the supply of apartments in Minneapolis is perfectly elastic. The effect of a $100 per month tax on all apartments.

Q2. Yovanka has diabetes and she will pay any amount of money to buy the insulin she needs to stay alive. Yovank's demand for insulin is?

Q3. For each dollar paid in taxes, approximately how much do households in the top quintile receive back in the form of government expenditures?

Q4. Suppose that due to flooding in Louisiana, 100,000 farmers relocate from Louisiana to Texas. Assuming that land and labour are complements in a farming production function, what would happen to the wages earned by workers and the rents earned by landowners in Texas?

Reference no: EM136008

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