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Price elastcity and burden of sales tax
Why does the burden of sales tax fall completely on consumer when the price elasticity of demand is perfectly inelastic; the seller when perfectly elastic. and the prefect inelastic supply and perfectly elastic supply.
Address whether any of these are a factor when looking at the future exchange rate among the United States and Egypt.
Explain why does the government support public education when the private sector also provides this service.
You are the manager of a local sporting goods store. Given the reservation prices, determine your optimal bundle pricing strategy.
Compute the elasticity of demand in going from 2 unit to 3 units. Is the demand elastic or inelastic in this range.
Illustrate the potential problems of economic transition from a planned economy to a competitive free-market economy.
Illustrate what are automatic stabilizers. What are some examples. What are your thoughts about the limits of fiscal policy.
Firms supply. Credit Check, Inc., offers credit checking services to credit card companies and retailers. What is the minimum price necessary for the firm to supply one thousand credit checks?
Explain why is efficiency lost at the extremes as when substantially more of one good and very little of another is produced?
Show the area on the graph that would correspond to consumer's surplus earned by the typical boarder/skier with this payment scheme. Explain your answer briefly.
When 50 employees are used, the average product of labor is 50 and the marginal product of 50th worker is 75.
Describe the total shortage associated with the price ceiling. Compute the full economic price. How much is the non-pecuniary price.
If I told you that GDP was forecast to rise by a bit more than 3% over the next year, what would that mean to you? What should you be asking about the forecast?
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