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What effect does a specific tax have on equilibrium price and quantity, and what is the incidence of the tax on consumers and producers, if the following statement is true:
1. The demand curve is perfectly inelastic.
2. The demand curve is perfectly elastic.
3. The supply curve is perfectly inelastic.
4. The supply curve is perfectly elastic.
Use graphs to justify your answers.
To one side maximizing profits evaluate the factors which managers must consider when making judgment to outsource or integrate forwards/backwards considering which factor would be mainly significant for decision-making.
Why, according to Keynes, is an economy in recession and why can such a recession be prolonged? Illustrate and discuss
why Marx calls it an ‘absurd tautology' that value of labour is determined by that labour. How can a tautology be absurd.
Suppose that an individual has a utility function U(c) = c 1=2 : They have 400 dollars. With probability 0.1 they get sick, which results in complete loss of their wealth (their wealth becomes 0. a. What is their expected wealth? What is their expect..
Jenny, your niece, is a smart high-school student who wants to make intelligent choices for her future. Hearing of your course in business economics,
Using the product-service identified in Week 4 and the Situation Analysis prepared in Week 5, you will now prepare the Marketing Plan’s Marketing Strategy, At a minimum, the Marketing Strategy must include the following sections (complete), correctly..
If Professor P chooses x and s to maximize her utility subject to the constraint that Mr. A is willing to work.
A concrete and building materials company is trying to bring the company funded portion of its employee retirement fund into compliance with HB-301.
Consider two countries, the United States and India, producing two commodities, food and clothing. The United States needs one and a half hours of labor to produce a unit of food and one hour to produce a unit of clothing. Draw the production possibi..
Many manufacturers of clothing and other consumer goods open stores in outlet malls where they charge much lower prices than they charge in their own stores located within cities. Outlet malls are typically located a considerable distance from major ..
Explain how does the concept of dualism adequately portrays the development picture in developing countries.
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