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!
Suppose the government imposes an excise tax of $1 for every gallon of gas sold. Before the tax, the price of a gallon of gas is $2. Consider the following four after-tax scenarios. In each case, (i) use an elasticity concept to explain what must be true for this scenario to arise; (ii) determine who bears relatively more of the burden of the tax, producers or consumers; and (iii) illustrate your answer with a diagram.
a.) The price of gasoline paid by consumers rises to $3 per gallon. Assume that the demand curve is downward sloping.
b.) The price paid by consumers remains at $2 per gallon after the tax is imposed. Assume that the supply curve is upward sloping.
c.) The price of gasoline paid by consumers rises to $2.75.
One has yearly income $10000, the other has yearly income $90000. Illustrate what is the Gini coefficient for this society.
Illustrate the way in which market forces shape the organizational responses using a range of examples.
What happens to the equilibrium prince and quantity in each markets when the government reduces the supply ofgoods with elastic demand.
What is Wirelesses' producer surplus from sales for each low-demand as well as consumer.
Illustrate types of government programs would be most effective in combating each type of unemployment.
Based on the information conveyed by the demand curve expressions, how would you explain the price difference between the two meals.
Suppose Firm X is a monopolist and is receiving positive economic profits. Illustrate what prevents other firms from directly competing away the profits.
Illustrate what is unusual about this market. Give an example of a good or service to might be characterized by this unusual market attribute.
Illustrate what is the elasticity of demand if you raise the price of your airline's tickets by 6% also the number of tickets sold decreases.
The biggest difference between Microsoft and software retailers is the market structure in which they operate.
Elucidate how much will each worker have to pay per unit to provide the socially efficient quantity.
Does the production technology exhibit increasing/decreasing/constant returns to scale.
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