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Assume that the Demand curve is given as Q=100-4P and the supply curve as P=10+4Q.
a. What would be the price and quantity with perfectly competitive markets?
b. What will happen to price and quantity if the government imposes a specific tax of $1 per unit on the producers?
What would be DWL? What would be tax incidence on producers and consumers?
Utilize the sticky-income theory of cumulative provide to explain illustrate what will take place to o/p also the price level play in this adjustment
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Summarize the controversy over the value of the Chinese yuan in foreign currency markets. Is China still using central bank foreign exchange policy to maintain the value of the yuan? What is the current policy of the United States on this issue?
Discuss the differences between elasticity of supply and elasticity of demand answering the following equations:
Consider the market for branded designer dog tags. Economic consultants have estimated a linear approximation to the market demand curve: QD(P) = 120 – 30*P, where the intercept and slope terms are in millions. To make the marketing campaign worthwhi..
Since producers must be compensated for the rising opportunity cost that accompanies increases in output,
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Suppose a uniform pricing monopolist's price equation is P(Q) = 120 - Q; the uniform pricing monopolist's marginal revenue is MR(Q) = 120 -2Q; the uniform pricing monopolist's total cost is C(Q) = Q^2 + 40Q + 150; and the uniform pricing monopolist's..
You have studied the legislative branch of government and the wide range of powers held by the House of Representatives and the Senate. List five powers or duties of one or both houses of Congress and discuss each of the five, in a few descriptive se..
For each of the cost functions found in part I, find the marginal cost, the average cost function and the average variable cost function.
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