Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Demand for potatoes is given by Qd= 10^9P withQ measured in tons. The supply of potatoes is given by Qs=P^2.(a) Show the demand and supply functions on a graph, taking care to properly label both curves and both axes.(b) Find the equilibrium price and quantity.(c) Find the elasticity of demand and the elasticity of supply, evaluated at the equilibrium price and quantity. Is demand elastic, inelastic, or unit elastic? Is supply elastic, inelastic, or unit elastic?(d) Solve for the elasticity of demand as a function of the market price. Draw this function for P [1/3, 2/3].(e) Suppose a (small) sales tax is imposed on potatoes. Would the burden of the tax fall mostly on consumers, mostly on producers, approximately equally, or is it impossible to tell from the information above?
The textbook claims that when people do not have to pay anything to use valuable resources, such as urban roadway space, they will continue using them until their value diminishes to zero.
Explain in detail how a decrease in consumer demand for a product will result in less of the product being produced and in fewer resources being allocated to its production.
In a closed economy, consumers spend $100 regardless of the level of income, the marginal propensity to consume is .8. Investment is equal to $200. The government spends $500 dollars and collects $150 dollars in taxes.
If the income tax base were broadened by eliminating these deductions, tax rates could be lowered, while raising the same amount of tax revenue. For each of these deductions, what would you expect the likely effect on taxpayer behavior to be
If Hotel Bethlehem can charge two separate prices for two separate blocks of guests, what are the two prices they charge? how many rooms do they ll at each price? If Hotel Bethlehem only charges one price, how many rooms do they ll? What price do t..
felicity is studying economics and political science. she can read 30 pages of political science per hour but only 5
Article may originate from the internet however please provide the link to the particular article you are reviewing.
A What are the assumptions underlying Imperfect Competition B State 2 features of a firm in long run equilibrium in Imperfect Competition that would be common to a firm in long run equilibrium under Monopoly. C Give an example of an industry operat..
Assume that the federal government increases spending on public works programs, such as highway construction, by $40 billion. How does this change in spending affect the aggregate demand curve? Explain why the shift may be higher or lower than the or..
Firms can now not only choose their prices but can also choose their location. This happens in two stages. In the first period, firms choose their locations and in the second period, they choose their prices. The transport cost of the consumer is ..
The opportunity price of an investment is the real rate of interest, and that's why investment demand depends on the the real interest rate.
make a graph showing gdp growth trend for the 5 countries.comment on the development. particular around and after the
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd