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Policymakers often use taxes to raise revenue for public purposes and to influence market outcomes. For example, the goal of the sugary drink tax is to reduce obesity and encourage healthy eating. Whether a tax is imposed on sellers or imposed on buyers, they typically share the tax burden. For sellers to bear a grater share of the tax burden (instead of the buyers), how must the elasticity of the demand curve and the elasticity of the supply curve be?
Define e-commerce and describe how it differs from e-business. What are the Eight Key Elements of a Business Model and discuss value preposition.
HI5003 Economics for Business. Australian Budget in May for 2014. Discuss the various aspects of expenditure and revenue in the budget. Comment on various stakeholders' reaction to this budget like Businesses, Consumers, Employees, Social welfare..
Suppose the price of airfare from SFO to JFK increases from $330 to $360 while no other variables change. In consequence, the quantity of tickets sold decreases from 180 to 140. Calculate the absolute value of the price elasticity of demand. (Hint: u..
The senator is considering tax reform that would dramatically cut tax rates, leading to a supply function under the new tax policy Qs = 4.171P - 110. Illustrate how much money would a typical consumer save each month as a result of the proposed le..
What is the basis of international law in general and international dispute settlement and the rule of law that apply to intellectual property? What can be done to protect intellectual property from piracy in the global marketplace? Are the current e..
Which of the following are the ideal conditions for a laissez-faire economy?
Why do you think students with disabilities are targeted for bullying by their peers at a higher rate than non-disabled students? Do you think incidents of bullying are increasing, or that our educational system is just getting better at spotting and..
What are the strengths and weaknesses of the measure of welfare used by many economists: consumer welfare plus producer surplus.
What are voluntary export restraint agreements? Why do some governments force foreign exporters into them instead of just using quotas or tariffs to restrict imports by the same amounts?
Income per person exceeds $25,000 in many countries, but it is below $1,000 per person in many other countries. Based on the Solow growth model, suggest at least four possible explanations for this gap in living standards.
If the market price stays the same, but the fixed costs of the firm increase so that the total cost function becomes: TC = 18 + 17 Q - 4 Q2 + Q3 What will be the profit-maximizing level of output? Will the firm earn a profit, and if so, how much?
In the wake of corporate scandals at Enron, Tyco, and WorldCom, some argue that managers of large, publicly owned firms sometimes make decisions to maximize their own welfare as opposed to that of stockholders. Does such behavior create problems in u..
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