User Account

All Pages

Consider the fictious good derp

Assignment Help Macroeconomics
Reference no: EM131037705

Consider the fictious good Derp. The demand for Derp is Q = 1200 - 2p. Suppose the supply is given by Q+-600+2P. Enter numbers only. If decimal, include decimal and round to nearest tenth.

  • What is the equilibrium price of Derp?
  • What is the equilibrium quantity of Derp?
  • What is the price elasticity of demand at the equilibrium price and quantity?
  • What is the price elasticity of supply at the equilibrium price and quantity?

For the next seven questions, suppose a per unit excise tax of $50 per Derp is levied on the consumers.

  • What price will sellers receive after the tax is levied?
  • What price will consumers pay after the tax is levied?
  • What percent of the tax will be paid by the consumers of Derp? (give answer between 0-100)
  • What percent of the tax will be paid by the suppliers of Derp? (give answer between 0-100)
  • How many Derps will be sold after the tax is imposed?
  • How much consumer surplus do consumers get after the tax?
  • What is the deadweight loss created by this tax?

 

Reference no: EM131037705

Questions Cloud

Determining the rule of law of a given case : Determining the rule of law of a case is a procedure similar to determining the issue of the case. Avoid being fooled by red herrings; there may be a few rules of law mentioned in the case excerpt.
Pros-cons of using employee referrals for recruiting workers : What are the pros and cons of using employee referrals for recruiting workers? Present the advantages and disadvantages of recruiting through an internal search and external search.
Government spending works with a distributed lag : Life has become yet more complicated. Government spending works with a distributed lag. Now when $1 billion is spent today, GDP increases by $1 billion this period and $1.5 billion next period.
Simply increase the channel length l of the cs mosfet : In this problem we investigate whether, as an alternative to cascoding, we can simply increase the channel length L of the CS MOSFET. Specifically, we wish to compare the two circuits shown in Fig. P8.70(b) and (c).
Consider the fictious good derp : Consider the fictious good Derp. The demand for Derp is Q = 1200 - 2p. Suppose the supply is given by Q+-600+2P. Enter numbers only. If decimal, include decimal and round to nearest tenth.
What learning activities would you use in your training : What learning activities would you use in your training? (i.e. Role playing, lectures, games, group discussions, etc.) Be sure to justify your decision.
Compare and contrast financial and managerial accounting : Provide one specific, real-life example of how either financial accounting helps external stakeholders make informed decisions or how managerial accounting helps managers to improve operational and financial performance.
Intermediate macroeconomics : Assume that an iPad in the US is $500 while in Switzerland it costs 400 Swiss Francs.  Suppose the nominal Swiss Franc/Dollar exchange rate is 1.1 Swiss Francs per Dollar.
Examples of price floors or ceilings : List three examples of price floors or ceilings, and identify the "winners" and "losers" that result from these interventions.

Reviews

Write a Review

Macroeconomics Questions & Answers

  Exercise 1the attributes of alecturer are name payroll

exercise 1the attributes of alecturer are name payroll number department and salary.write a function which takes a

  The australian economy has gone

Collect an article from an Australian newspaper that relates to the current Australian macro-economy or a macroeconomic issue or problem. In a paragraph indicate which section of the course it applies to, why you selected the article and provide a br..

  Find the f.o.c. that maximizes profits

Given a perfectly competitive firm in the output market where: P0 = exogenous price, C(Q) = cost function where: C' > 0, C'' > 0. (a) State the firm's profit function in terms of Q. (b) Find the F.O.C. that maximizes profits at Q*. (c) Interpret the..

  Evaluate his negative assess­ment of the situation

"We have too many hotels in this town already. Statistics show that vacancy rates average 20 percent on any given night." Assuming this is correct, evaluate his negative assess­ment of the situation in terms of business-stealing and product-variet..

  Which characteristic of the production possibilities reflect

Which characteristic of the production possibilities reflects the law of increasing cost: its shape or its length ?

  Benefits of international trade

Write an essay evaluating the role of governments in assuring that developing countries obtain a fair and adequate share of the benefits of international trade.

  How did johnson and johnson use the opportunity

In 1982 the Johnson & Johnson Company credo was suddenly taken to task when an unknown quantity of Tylenol capsules on the shelves of one or more drug store(s) in Chicago was/were laced with cyanide, and seven people died.

  1 suppose honey is produced in a beehive using bees and

1. suppose honey is produced in a beehive using bees and sugar. each honey producer uses one beehive which she rents

  In professional sports the decisions about tv contracts

in professional sports the decisions about tv contracts salary cap free agency entry in to a new market are made by

  Explain why a short run average cost curve

Explain why a short run average cost curve only touches the long run average cost curve at one point on the long run average curve. define clearly the concept of returns to scale.

  Why does collusion among oligopolists tend to be unstable

Why does collusion among oligopolists tend to be unstable? How can this be used to explain the recent price war among supermarket chains - explain why the UK supermarkets industry can be seen as an example of oligopoly and how oligopoly arises?

  The company is risk neutral and so maximizes

The company is risk neutral and so maximizes expected profits net of wages.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd