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Q1) Market Analysis: Suppose that demand for oranges is given by the following Equations: Q= -200P + 1000 With quantity (Q) measured in oranges per day and price (P) measured in dollars per orange. The supply curve is given by Q= 800P A. Compute the equilibrium price and quantity of oranges. B. Suppose that an excise tax of 50 cents apiece is imposed on oranges. What are the new supply and demand curves? What is the new equilibrium price and quantity of oranges? What is the new post-tax price from the supplier's point view? Illustrate your answer by drawing the supply and the demand curves. C. Repeat the exercise for 50 cents sale tax instead of excise tax. D. Suppose that an excise of 20 cents apiece and a sales tax of 30 cents are imposed simultaneously, answer again all the questions in part (B).
Suppose that the market for some product has a linear downward?sloping demand curve and a linear upward sloping supply curve. Then suppose that the price of a substitute good increases and the price of an input to production also increases.
In 1982, nominal GDP decreased by 2% while real GDP increased 4%. What explains the difference between nominal GDP and real GDP? Which is a better indicator of how the economy is performing?
Two organizations (one Non-profit and one for-profit) are considering different alternative courses of action within their organizations.
What is the average fixed cost of producing 2 units of output based on the following table:
If an investor deposits $1000 now, $3000 three years from now, and $600 per year for 5 years starting 4 years from now, how much money can be withdrawn every year forever beginning 12 years from now, if the rate of return on the investment is 8%.
phillips industries manufactures a certain product that can be sold directly to retail outlets or to the superior
Determine the impact of the increase in the price of soybeans on the rental rate of land and determine the impact of the increase in the price of soybeans on the welfare (real wage) of labor.
please provide a comprehensive answer to the following two questions1 which were the main causes of the great
Are unions good or bad for the economy How do unions at GM and Ford affect employment levels and wages How do unions affect other industries in terms of employment and wage levels
If a representative firm with total cost given by TC = 20 + 20q + 5q2 operates in a competitive industry where the short-run market demand and supply curves are given by QD = 1,400 - 40P and QS = -400 + 20P, the number of firms operating in the sh..
How many units of bananas would he consume if he chose the bundle that maximized his utility subject to his budget constraint?
A town in the middle-of-nowhere is built up around a large 100 meter hill. Since the hill is in the center of a town, it is proposed at a town-hall meeting that a water tower be placed at the top of the hill
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