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Consider the fictitious good Derp. The demand for Derp is Q = 1200 - 2P. Suppose the supply of Derp is given by Q = -600 +2P. 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 an answer between 0 and 100) What percent of the tax will be paid by the suppliers of Derp? (give an answer between 0 and 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?
a. sketch the aggregate demand short-run aggregate supply and long-run aggregate supply of an economy in long-run
create an idea for your own mnc to conduct international business. your idea should be simplified to the degree that
Submit Annotated Bibliography Source #2 on the article The M3-Competition: Results, Conclusions, and Implications. Milestone Three: Resource #3
What is the maximum amount of harvest that can be sustainably achieved in this system? What level of biomass generates this amount of harvest?
The Multiplier in a country is equal to 5, and households pay no taxes. At the current equilibrium real GDP of $14 trillion, total real consumption spending by households is $12 trillion. What is real autonomous consumption (A) in this country
The San Francisco Giants want to boost revenues from ticket sales next season. You are hired as an economic consultant and asked to advise the Giants whether to raise or lower ticket prices next year.
farmer dorr figures that her fixed costs are 2000 and the relevant portion of her total cost curve
Recent increases in rents have caused the citizens of Elmville to vote for a rent ceiling of $1200. Assuming all rental units in Elmville are identical and the supply and demand for rental units are given by Qs = -1000 + 20P Qd = 50000 - 10P
Describe the conditions that will prevail if tuition is held below equilibrium price. Provide one (1) example to support your response.
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With the per-unit prices of broccoli (b) and pork rinds (r) equal to $2 and $1, a consumer, George, with an income of $1000 purchases 400R and 300B. At that point, the consumers MRS = 2r/1b.
the ampex co. manufactures plastic fixtures for residential bathrooms. currently it has an opportunity to invest
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