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Q1. A Fenway park, home of the Boston Red Sox, seating is limited to 39.000. Hence, the number of tickets issued is fixed at that figure. Seeing a golden opportunity to raise revenue, the City of Boston levies a per ticket tax of $5 to be paid by the ticket buyer. Boston sports fans, a famously civic-minded lot, dutifully send in the $5 per ticket. Draw a well-labeled graph showing the impact of the tax. On whom does the tax burden fall-the team's owners, the fans, or both? Why?
Q2. In the text we assumed that the condominium purchasers came from the inner-ring people-people who were already renting apartments. What would happen to the price of inner-ring apartments if all of the condominium purchasers were outer-ring people-the people who were not currently renting apartments in the inner ring?
Caught up in broad social and economic disaster that swept the Mediterranean basin during the twelfth century BCE, what seems to have happened to the civilization of people.
The trade or business of manufacturing dolls and accessories
If Sammy refuses to contribute to the butterfly garden, he'll not be able to enjoy its benefits if it is built.
Assume that the industry wants to expand and has to make some long-term capital budgeting decisions. Now the industry is confronted with government regulations to oversee the merger.
Hero Nakamura is CEO of the Cola King Bottling Company a small regional producer operating in the Pacific Northwest. Nakamura is considering two alternative expansion proposals
Find the subgame perfect equilibria of the variant of the game in which the post-entry competition is a game in which each firm chooses a price, rather than an output.
The opportunity cost of Juan's time is $8 per hour. If Juan receives $2 per pound for his fish, what is the optimal number of hours he should spend fishing.
Price elasticity of demand is 1.5 and a firm raises its price by 20 percent the quantity sold by the firm will ceteris paribus.
Use the 2007 numbers in the first column to compute, for each of the four countries, the percentage gap between the steady-state ratio.
A residential rental property is acquired during the first month of the taxable year, at a total cost (including transaction costs) of $1,200,000.
Think of any financial innovation in the past ten years
Calculate the price elasticity of demand for Newton's Donuts
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