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Suppose that the market for cigarettes is a competitive market and is described by the following supply and demand functions: Demand: QD = 80 - 2P Supply: QS = - 10 + 0.5P
(a) Calculate the equilibrium price and quantity and draw a diagram to illustrate your answer.
(b) Show on your diagram and calculate the size of the:
(i) Consumer surplus
(ii) Producer surplus
(c) Suppose the government wants to reduce the consumption of cigarettes to 6 packets. What size specific (per unit) tax will the government impose on cigarette producers to achieve this outcome?
(d) What is the per unit burden of the tax experienced by consumers?
(e) What is the per unit burden of the tax experienced by producers?
(f) What is the total amount of tax revenue raised by the per unit tax?
(g) According to the supply and demand model is society worse off or better of as a result of the imposition of the per unit tax? Explain your answer.
With the support of the textbook and additional research on Apple Inc, prepare the following components that support an internal audit: •A Value Chain Analysis (VCA) chart •An Internal Factor Evaluation (IFE) Matrix
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Discuss two (2) strategies that they can use to enter the global market, and explain why these approaches would be appropriate and beneficial to the business.
In your opinion, have U.S. companies effectively lobbied for anti-dumping regulations and tariffs just to gain a competitive advantage domestically? Has this been effective? Why or why not? Please support your answer. Please provide a reference a..
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What are five attributes for the entity "Student" for a university system tracking information on students?
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