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Recently there has been discussion in the news about taxing junk food (soft drinks, for example) in an effort to reduce the incidence of obesity in the U.S. Do you think the demand for junk food is elastic or inelastic with respect to price.
Based on your knowledge of the price elasticity of demand, do you think the deadweight loss of a soda/junk-food tax would be relatively large or relatively small? Why? Do you think taxing junk food would be a good idea? Based on your analysis, would it really help reduce the number of obese people in the United States? Explain.
Discuss the sanctions on Russia over Ukraine by US and European countries and Russia's retaliations. Discuss the impacts on US, European countries, and Russian economies.
Suppose that a group of physicians establishes a joint practice in a remote area. This group provides the only health care available to people in the local community,
Assume that income and business taxes are zero and that the repayment of the principal of the loan does not start before three years. What would be the business (accounting) and economic profit if Norita decided to purchase the bakery shop? Shoul..
Explain how network effects are largely responsible for the large market shares enjoyed by Microsoft in desktop operating systems and by Google in mobile phone software.
Using aggregate demand, short-run aggregate supply, and long-run aggregate supply curves, explain the process by which each of the following government policies will move the economy from one long-run macroeconomic equilibrium to another.
Of the of the key players you identified, pick two (2) - One for the recommendation and one against recommendation. Describe the political influence of each, explaining motives, conflicts, interrelationships, and impacts on the policy.
the manager of a firm that receives revenues of $40,000 per year from product X and $90,000 per year from product Y. The own price elasticity of demand for product X is -1.5, and the cross-price elasticity of demand between product Y and X is -1.8..
A company in a competitive market must accept the market price, but a monopoly can set a price that maximizes its own profit. Explain giving consideration on the elasticity of the demand.
What is disposable income? What does the mpc measure? How do you interpret the mpc? Is the mpc a constant over time? What determines the mpc?
Suppose planned investment falls by 100. Graphically illustrate using the AE-Y graph the effects of this reduction in planned investment on the economy. Also calculate the new equilibrium level of income.
An economy consists of three workers: Larry, Moe, and curly. Each works ten hours a day and can produce two services: mowing lawns and washing cars. In an hour, Larry can either mow one lawn or wash one car; Moe can either mow one lawn or wash two..
Moving Equilibrium. Show the effect of each on the monopoly market equilibrium; you don't need to have exact answers but explain the direction of change in the demand and/or marginal cost curves.
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