Determine what is the price that buyers pay

Reference no: EM13219405

Economic 101 The supply of luxury boats is perfectly elastic, the demand for luxury boats is unit elastic, and with no tax on luxury boats, the price of luxury boats is $1 million and 240 luxury boats a week are brough. now luxury boats are taxed at 20 percent. Q: what is the price tha buyers pay? How is the tax split between the buyer and the seller? What is the government's tax revenue?

Reference no: EM13219405

Questions Cloud

Determine impact of govt regulation against patent trolls : The IT industry is full of patents. There are some companies, referred to as patent trolls, whom purchase these patents in hopes of making money by enforcing patents against alleged infringers. Determine the impact of government regulation

Discuss how the response impact maximizing shareholder weath : Provide an example of how government regulation is either constraining or enabling for a particular company indicating the impact to the operational efficiency of the company. Discuss how your response impacts maximizing shareholder wealth.

Find how many units of output monopolist would sell : Calculate monopoly output, price, and maximum profit when the market demand curve is QD = 20 - 2p, MC = 4Q, and TC = 2Q2. If a new innovation enables the monopoly to cut its costs by 50%, but it costs $50 to adopt this innovation.

State the monopoly sells its goods in two different markets : Suppose a monopoly can produce any level of output it wishes at a constant marginal (and average) cost of $5 per unit. Assume the monopoly sells its goods in two different markets separated by some distance. The demand curve in the first market is..

Determine what is the price that buyers pay : The supply of luxury boats is perfectly elastic, the demand for luxury boats is unit elastic, and with no tax on luxury boats, the price of luxury boats is $1 million and 240 luxury boats a week are brough. now luxury boats are taxed at 20 percent..

Explain system of retrospective billing impact health care : What is meant by "retrospective" billing of health care expenses. How can a system of retrospective billing impact health care expenditures

Undertake risk monitoring and control activities : The processes you used to undertake risk monitoring and control activities and an indication of the frequency of risk monitoring and control activities?

Explain structural-functional analysis : Perform an internet search to find more information. a) Structural-functional analysis: the importance of culture; b) Symbolic-interaction analysis: the personal meaning of race; and, c) Social-conflict analysis: the structure of inequality.

Risk management activities in a report : Create a risk register for the risks you have identified in each project you have managed/are managing Document the results of your risk management activities in a report.

User Account

All Pages