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Explain why excise taxes are more effective at raising tax revenues when applied to products with price inelastic demand versus ones with price elastic demand. Under what conditions would it be possible for tax revenues to decline with higher excise taxes?
how many pineapples will she consume? If her income increases to $120, how many grapefruits will she consume? Are grapefruits a normal or inferior good?
Hot chocolate is made from chocolate syrup and milk. Using a separate supply and demand graph for each question, please show the effects of the following events on the market for hot chocolate (please specify the change in demand, supply and the equi..
prisoners dilemma is a game that has been and continues to be studied by people from a variety of disciplines from
Explain how would you extend the above narrative to businesses, society as a whole or nations.
q1. the number of taxicabs in motorville and the taxicab fares are regulated. the fare currently charged is 5 a ride.
What are the corresponding retail and wholesale prices? What would happen if the sales are switched from the retail to the wholesale and vice versa?
Consider a market characterized by the following demand and supply curves: Qd = 1600- 20p and Qs = - 900 + 30p. Calculate the change in producer's surplus. Calculate the deadweight loss of the price ceiling.
Why are coal miners in China paid higher than factory workers even though they have received more or less the same level of education and training? Why are workers with good looks paid higher in some jobs, but not in others? A recent report released ..
critically estimate the theory and empirical evidence on the optimality criterion for choosing an exchange rate regime.
Elements of fiscal policy that move the budget toward surplus as the economy expands and toward deficit as it contracts are called ________.
Illustrate what is the minimum price necessary for the company to supply one thousand cups.
Your demand for minutes of calling is given by the equation: Q_d = 150-50*P, where P is the price of a minute. illustrate what is the cost of an extra minute on the phone.
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