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Q.1. The city government is considering two tax proposals:
• A lump-sum tax of $300 on each producer of hamburgers.
• A tax of $1 per burger, paid by producers of hamburgers.
1) Which of the following curves—average fixed cost, average variable cost, average total cost, and marginal cost—would shift as a result of the lump-sum tax? Why? Show this in a graph. Label the graph as precisely as possible.
2) Which of these same four curves would shift as a result of the per-burger tax? Why? Show this in a new graph. Label the graph as precisely as possible.
If we assume that all firms in a perfectly competitive constant cost industry are identical, we conclude that, in the long run, product price will exactly equal the firms' minimum average total cost. Explain why this is true using supply and deman..
Suppose you are the manager of College computers, a producer of customized computers that meet specifications needed through the local university.
America's Water Meter Industry is dominated through 4-companies: Rockwell, Badger, Neptune and Hersey. Rockwell has 35 percent market share, and the remaining share rest.
Sidney Featherstone of TIP, Inc. is owner and CEO of the company. He has made the company successful through his decision making over the years. This year he decided to retire to Costa Rica. He does not intend to change any aspects of decision mak..
Note that the first set of numbers represents the various incomes; whereas the second set of numbers represents the number of people earning each of these incomes. For example, in Avataria there are 50 people with the income of $100, 25 people wit..
Cypress River Landscape Supply is a large wholesale supplier of landscaping materials in Georgia. Cypress River's sales vary seasonally; sales tend to be higher in the spring months than in other months.
Choose two of the following economic systems(traditional,free market,or centrally planned) and explain which of the two systems you think does the best job of achieving each goal of the major economic goals each economic system tries to meet
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This is a challenging question and involves algebraically solving system of two equations given by AD abd AS curves. The equations for the curves are given through the following:
A special interest group cannot impose its will on the majority because the perceived costs and benefits from government programs are the same for both groups. Cost-benefit analysis can be applied to individual decision-making and public choice th..
Discuss how deficit spending relates to the economic collapse of the Greece and Spain economies. Relate their economic collapse to U.S. current economic problems. How does U.S. deficit spending affect our economy? Greece and Spain have introduced ..
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