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How changing the price elasticity of demand from elastic to inelastic affects the consumer's economic burden of a tax and the government's collected tax revenues?
Presume that a firm has its policies determined by a manager whose objective function is to maximize sales, i.e. revenues, without letting profit drop below some fixed level, m. Let R(y,a) denote firm's revenue when the level of production is y and t..
look at the two tables below which show respectively the willingness to pay and willingness to accept of buyers and
suppose virginia withdrew 10000 from her bank. if the reserve ratio is 2 percent theen this transaction willl lead to
Supposing a products is produced both in the US and abroad what would be the effects of the US import quota on the good? Discuss some of the attributes of the new economy.
Some of the Tennessee Valley Authority’s electricity generating plants are powered by coal purchased via a separate TVA procurement division. Power plant managers often complain that the coal is below grade and causes problems with plant maintenance ..
When negative or positive externalities exist economists say that market has unsuccessful to make the right amount of the good at the right price. What do economists mean through this?
suppose the price of widgets falls from 7 to 5 and consumption of widgets rises from 15 widgets a month to 25 widgets.
How can two countries both be better off as a result of trade
COUNTRY ANALYSIS 1. Describe the population trends. 2. What is the gross national product and its' trend 3. What are the key imports and exports 4. What are the country's major industries. 5. Describe the political system and legal environment. Do th..
the employees at warren manufacturing company are unionized. as minimum requirements the union members insist on
Suppose the government imposes the following kind of sales tax: there is no tax for selling the first 35 units, but for selling every unit beyond the thirty-fifth unit, the seller has to pay the government an additional $12. What is the new optimal p..
The effect on the money supply, interest rate, and GDP.
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