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What is the tax incidence of an excise tax when demand is highly inelastic? Highly elastic? What effect does the elasticity of supply have on the incidence of an excise tax? What is the efficiency loss of a tax, and how does it relate to elasticity of demand and supply?
Discuss all of the Pros and Cons of making the decision to buy a new car and we require to consider about macro & microeconomics and any other psychological, sociological or business concepts that may affect the decision.
Questions: : Which of the following are likely to be fixed costs and which variable costs for a chocolate factory over the course of a month? Explain your choice.
If boyh bid the same amount, the $100 is split evenly between them. assume that eac of them has only two $1 bills on hand, leaving three possible bids: $0, $1,or$2 Write out the payoff matrix for this game and then find it's Nash equilibrum
Think a competitive industry consisting of one hundred identical firms each with the following cost schedule,
What is the machine's payback period? Compute net present value of machine if the cost of capital is 12%. Find out the expected internal rate of return for this machine?
Perform residual analysis using time series plots, autocorrelation analysis, histogram and a normality plot to determine if the residuals are random. Show the graphs.
What is the key assumption needed to show how one can construct a numerical utility function out of just a preference ordering? Don't just draw a picture; explain what the assumption means and apply it to show how to construct that numerical util..
Curly's Life Insurance Co. is trying to sell you an investment policy that will pay you and your heirs $33,000 per year forever.
What is your price elasticity of demand for gasoline and why How important is fuel efficiency to you (particularly if you have purchased a car in the past three or four years) Do your driving habits change as the price of gasoline changes
which will cause a larger short run increase in prices; an anticipated or unanticipated increase in aggregate demand? will they cause the same increase in prices in the long run?
Consider the same animation cel auction as in problem 1. If instead you decide to hold a Vickrey Auction, what will person 2's bid be, if he is behaving optimally?
Imagine your company has put you in charge of developing a sustainability plan, a common framework your organization will use to achieve its sustainability goals. Devise two strategies you would have your company adopt, and explain why you believe..
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