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The government of Watertown requires that all residents of the city register their cars in the city. It has put a 1.21% city tax on that value of cars registered in the city. Watertown collects no other specific excise taxes, and all other government revenues come from a neutral lump-sum tax. The burden of the tax if fully borne by consumers. Before the tax there were 125,880 cars registered in the city. After the tax, there are 117,086 cars are registered in the city. The average value of a registered car is $20,500 1) how much revenue is raised with the tax? (Nearest whole number) 2) How much is the excess burden of the tax? (Nearest whole number) 3) what is the excess burden as a percent of the revenue raised from the tax?
Business Week, in an article dealing with management, wrote, "When he took over the furniture factory three years ago.(the manager realized almost immediately that it was throwing away at least $100,000 a year worth of wood scrap.
Company A has fixed expenses of 15000 per year and each unit of product has a $0.20 variable cost. company B has fixed expenses of 5000 per year and can produce the same product at a $0.50 variable cost. At what number of units of annual production w..
suppose that the percentage annual return you obtain when you invest a dollar in gold or the stock market is dependent
Since consumers' tastes are changing so rapidly, there is no reason to expect that statistical demand estimates derived from historical data will be accurate in the future.
What do you understand by the term ‘Keynesianism’? From a policy perspective, outline key Keynesian policies comparing and contrasting these against a neo-liberal policy platform.
Explain how and why firms practice 3rd degree price discrimination. Use the handout to illustrate your answer (coupons; airlines, mobile phones).
identify an article that demonstrates the application of time value of money principles to a business decision.explain
identify economic factors that affect the real gdp the unemployment rate the inflation rate and a key interest rate.
First Bank is sending university alumni an invitation to obtain a credit card, with the name of their university written on it, for a nominal 9.9 percent interest per year after 6 months of 0 percent interest. Interest is compounded monthly, IF you f..
Consumer Sovereignty & Dollar Votes guide the market system in dealing with which fundamental question a) What will be produced b) How is the output to be produced c) How can the system accomodate change d) Why is to recieve the output
However, rather than having data on individual workers, you have access to data on manufacturing firms in Ohio. in particular, for each firm, you have information on hours of job training per worker(training) and number of nondirective items produ..
Suppose you have the cobb -Douglass production function k^2L^1/2. Calculate the optimal combination of input goods (K and L that the firm should purchase as function of g, w, and v). Calculate the firm's cost function.
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