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There are three firms in an economy: A, B, and C. Firm A buys $350 worth of goods from firm B and $150 worth of goods from firm C, and produces 250 units of output, which it sells at $4 per unit. Firm B buys $200 worth of goods from firm A and nothing from firm C, and produces 250 units of output, which it sells at $6 per unit. Firm C buys $300 worth of goods from firm A and $100 worth of goods from firm B. It produces output worth $800. All other products are sold to consumers. Instructions: Round your answers to the nearest whole dollar amount. a) Calculate GDP. GDP = $ b) If a value-added tax (a tax on the total value added by each firm) of 15 percent is introduced, how much revenue will the government get? Revenue $ c) How much would government get if it introduced a 15 percent income tax? Revenue $ d) How much would government get if it introduced a 15 percent sales tax on final output? Instructions: Round your answer to the nearest whole dollar amount. $
Elucidate how a profit from selling the drug. This is, in part, due to the fact to the company spent $1.2 billion developing the drug also obtaining FDA approval.
Production When you have completed your study of this chapter, you will be able to 1 2 3 4 Explain how economists measure a firms cost of production and profit. Explain relationship between a firm output and labour employed in short run.
Illustrate what is value (in millions) of Trumbull's equity if it is viewed as an option. Illustrate what is yield on Trumbull's debt.
Explain how much tax revenue does this tax create. Illustrate what proportion of the tax is borne by consumers.
Compute both Burton Cummings's explicit costs every month also his implicit costs every month. Compute the opportunity cost of the resources utilized by Burton Cummings each month.
Illustrate what determines whether or not economic efficiency is achieved. What determines whether or not economic efficiency is achieved.
you should show what you want to be measured by analyzing KSAO's from the job description and the information on organizational culture in the case.
Explain how will my family's consumption of omelets change this week and why. Chickens by the way do not respond to published prices in their decision as to lay eggs.
what was equilibrium price of a box. Is this long run equilibrium price. how many firms are in this industry when it is in long run equilibrium.
Illustrate what are the levels of income every worker also consumption every worker at the initial period. Remembering that the change in the capital stock is investment less depreciation.
Illustrate why did official money lose its meaning in Germany during the 1920s. What did the German government do or not do.
Illustrate what means does it use to hedge against exchange rate risk. Using this information, illustrate what do you think would be effect of increases/decreases in dollar's exchange value on firm's profitability.
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