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A taxi driver picks up passengers at a city airport. he's a price taker and profit-maximizer. The regulated price for rides to downtown from the airport is $40. His costs are given by the following function:
TC = 100 + 20q + 0.1q2
Q being the quantity he produces
1) How many taxis will he provide? What are the profits?
2) Assume the city imposes a new requirement for a $100 per year taxi license fee for all drivers. Assume the regulated price remains fixed at $40. how many rides will the driver provide now and what are his profits?
3) Assume the the city requires all drivers to pay a $10 fee for each ride. With the price remaining fixed at 40, how many rides will he provide and what will the profits be?
Although it is impossible to make a pile of money worth exactly $3, it is still possible to buy something that costs $3. You can give two $7 bills to the cashier and receive one $11 bill as change. There are two different ways to make $120.
About 60 percent of the funds was directed at reducing the supply of drugs through domestic law enforcement and interdiction. Some critics of this approach argue that supply-side approaches to reduce the drug supply actually help drug producers.
Knappland is at Y = Yn , ue = uen , and P = Pe. President Ewe is concerned about the upcoming election. He pushes tax cuts through the legislature. a. Use the AS-AD to illustrate the effects of the income tax cut
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