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Many people believe that we never will create eternal life here on earth, but there are many more people who believe that taxation can be eliminated. Are you one of those people? Discuss some ideas of possibly financing the government without taxation. (Hint: One method might be a national lottery). Keep in mind that some states have already eliminated personal income taxes and some do not have sales taxes.
If two goods are supplements, their cross price elasticity will be:
Suppose that $2100 is set aside each year and invested in a savings account that pays 8% interest per year, compounded continuously. Determine the accumulated savings in this account at the end of year 26
Now, suppose that following the supply and demand changes in (a), a substitute good goes up in price, and your costs of production increase. What new decisions will you make regarding production levels and pricing for your Widget facility?
When marginal revenue is greater than price the firm's profit is always positive. When an increase in the quantity results in a reduction in profit marginal cost is greater than marginal revenue. Generally, to maximize profit is to minimize cost.
After 8 years of use, the heavy truck engine overhaul equipment at Pete’s Truck Repair was evaluated for replacement. Pete’s accountant used an after-tax MARR of 8% per year, tk = 30%, and a current market value of $25,000 to determine AW = $2100. Th..
Why is the continuing income inequality in the US a problem for the economy? Does it matter that so many people own such a low percentage of total wealth in this country?
module learning outcomesbullunderstand the purpose and key parts of a business planbullknow how strengths weaknesses
If $80 is charged for a design fee, and the monthly studio rent is 1,600; write an equation for the profit, P, in terms of x. Then how much is the profit when 50 award designs are sold in a month? How many award designs must be sold in order to maxim..
Suppose that Omar’s marginal utility for cups of coffee is constant at 2.5 until per cup no matter how many cups he drinks. On the other hand, his marginal utility per doughnut is 10 for the first doughnut he eats, 9 for the second he eats, 8 for the..
Profit max level of output. Quantity firm will minimize average total cost. Illustrate at what price will y shut down.
Suppose that the U.S. government decides to charge wine producers a tax. Before the tax, 20,000 bottles of wine were sold every week at a price of $4 per bottle. After the tax, 13,000 bottles of wine are sold every week; consumers pay $5 per bottle, ..
Find U.S. civilian employment date for the last 10 years. How many more workers were there at the end of the last 10 years than at the beginning. Elucidate how did this impact the nation's production possibilities curve.
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