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Assume that every citizen of country X has the utility function of u(x, y) = 5x+4y. Say that x denotes cigarettes and y denotes alcohol. The government of country X receives revenue from alcohol and cigarrete purchases but wants to curb alcohol consumption without decreasing its total revenue. Assuming that the government can levy a per unit tax on alcohol consumption, and taking initial prices and income to be px = 1; py = 1=2; I = 100, what is the minimal tax rate that will reduce alcohol consumption by at least 10 percent (without decreasing total revenue)? Make the convention that whenever prices are such that the consumer is
indierent between alcohol and cigarettes, he chooses to consume cigarettes.
What is residential segregation Give a historical perspective and recent trends as to how and why it is changing. What are some of the negative effects of residential segregation
Calculate the expected value of the "lottery", in which Maria participates and calculate the utility of the expected value of the lottery.
Alexander studies away from home. While at school, he spends all his income on air travel and economics textbooks. In a diagram with air-travel as the x-axis good, as pair increases while ptext remains unchanged, Alexander's price consumption path..
1. question is based on the table below showing the marginal utilities of good x and good ybased on the table above and
Explain which intellectual property appears the most difficult for a business owner to protect. Provide support for your answer.
characteristics of the job market and employment placement include all the following except (points 5) its very stable unbalanced supply and demand career portals on corporate websites reduce recruitment cost the job market has essentially moved o..
Monthly Gross Income: $3,000 Money you have in savings for a down payment: $9,500 You have monthly payments for all existing debts of $400 How much do you qualify to borrow (assume 28% debt to income ratio and 10% down payment)
Determine the equilibrium price and quantity and explain its meaning to your chosen company. Indicate how your chosen company's management should use this information to make sound strategic decisions.
The owners of the copper smelters to operate each smelter longer than has been the practice in the past affect the elasticity of demand for labour in the copper industry.
give two conditions that are important to the efficient market theory. list one implication of the efficient market
When the firm increases labor input, which of the following is correct about the relationship between marginal product of labor and marginal cost? Answer If marginal product is increasing, marginal cost will be decreasing. Marginal cost is equal t..
suppose disneyland is considering how to price entry into their theme park. theyve decided that in addition to charging
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