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Elasticity and tax revenues
Why is it wiser for the government to put a sales tax on a good that is demand inelastic than on one that is demand elastic?
As the manager of Pelican Point Financial Group, you are unable to determine whether any given individual is a high or low volume transaction investor. Design a self-selection mechanism that permits you to identify each type of investor.
You are a manager of a large but privately held online retailer that currently uses 17 unskilled workers and 6 semiskilled workers at its warehouse to box and ship the products it sells online.
What price should DD set to maximize profits? What would output be if DD acted like a perfect competitor and set P = MC?
Illustrate recommendations would you make to Congress and the President for the management of fiscal policy.
Show graphically the amount of the change that is due to the substitution effect and the amount of the change that is due to the income effect.
What is a fixed payment made by the privately insured patient in exchange for receiving the medical good or service? What is the percentage of each and every medical bill that the patient pays rather than the flat dollar amount?
Illustrate what is the cross elasticity of demand among the two brands of widgets.
Write down the relationship between savings, capital formation, and consumption.
The financial analysis department at MorTex estimates that the price of a textile machine is $ 600 per day. Can management reduce the cost of assembling 5,400 units per day by purchasing a textile machine and using less labor? Why or why not?
Using the midpoint formula, calculate the price elasticity of demand for the following problem: Calculate the income elasticity of demand using the general formula for elasticity:
Use the utility function to answer the questions, below: (x1, x2) = exp (√(x 1 ) + √(x 2 )-Derive the Marshallian (ordinary) demand function for good1 and 2, x i *(p,l), i =1,2 . Then derive the indirect utility function (p,l).
Explain her change in consumption in terms of income and substitution effects (give a precise quantitative answer). Is this a Griffin good (how do you know)?
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