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Effects of a Higher Fish Tax. In Figure 21.10 on page 454, suppose the fish tax is $2 per pound of fish instead of $1. Draw a graph to show the effect of the $2 tax. In the new equilibrium, the price is $________, the quantity is ______, and the deadweight loss from the tax is $__________ .
1. Job A pays $30,000 a year. Job B is completely identical in all aspects except it is located in an area that has a 10% higher cost of living. In order to compete, Job B would need to pay. This is known as a. 2. Explain the difference ..
During the last 5 years, there has been an increase in the amount food that people are growing in their gardens. Use marginal cost- benefit analysis and the concept of opportunity cost, explain what could have changed the choice.
Let ‘x' be the amount that player A asks for, and let ‘y' be the amount that B asks for, when making the first offer in an alternating-offers bargaining game with impatience. Their rates of impatience are ‘r' and ‘s' respectively.
Assume that the John Smith, the manager of marketing division of Chevrolet at GM, estimated the given regression equation for Chevrolet automobiles:
You are choosing between two goods, X and Y, and your marginal utility from each is as shown below. Units of X MUx Units of Y MUy 1 10 1 8 2 8 2 7 3 6 3 6 4 4 4 5 5 3 5 4 6 2 6 3 If your income is $9 and the prices of X and Y are $2 and $1
Monopoly firms enjoy government protection from competition.
Suppose that the demand curve for accountants isED=20-W. The supply curve isES=2+2W. a. Graph the demand and supply curves. What is the equilibrium wage and number of accountants hired b. Suppose California taxes accountants $2.
East Chicago is a major production center of steel in the United States. In the process of producing steel, the firms in this are emit pollution both into the air and into the water which adversely affect Indiana residents. The EPA has determined ..
Suppose a consumer has an income of $1000 and faces prices Px = $5 and Py = $10. (a). Write the equation for this consumer's budget constraint. (b). Draw the budget constraint, placing Good X on the horizontal axis. Label it BC.
Break the loop at the gate of M2, determine the loop gain, and prove that the feedback is positive.
Suppose the demand for a product is given by P = 30 - 2Q. Also, the supply is given by P = 5 + 3Q. A) What is the equilibrium price and quantity of the product B) What is the price elasticity of demand at the equilibrium price
Calculate the optimal amount of pretzels and soft drinks that minimizes this firm's costs and how many frames do you provide each month?
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