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Assume you are an aid to a government official planning on some recently proposed excise tax on welfare of her constituents. One way of measuring impact on her constituents is to determine how that tax change affects the level of consumer surplus enjoyed by her citizens in her area. By using a formal analysis and estimates of demand and supply:Q (demand) = 500 - 5P and Q (supply) = 2P- 60
1. Graph the supply and demand curves2. What are the equilibrium quantity and equilibrium price?3. How much consumer surplus exists in this market?4. IF a $2 excise tax is levied on this good, what will happen to the equilibrium price and quantity?5. What will the consumer surplus be after the tax?
Catfish farming in Louisiana is a perfect competition market. Hence, customers of catfish are getting their catfish at the minimum cost per unit of manufacturing catfish, and they are very happy.
The production engineers at Impact Industries have derived the optimal combinations of labor and capital (the only two inputs used by Impact) for three levels of output: 120, 180, and 240 units of output:
A company has a EBIT to be $100,000 every year forever. The company can borrow at 5%, has no debt and cost of equity of 15%. If the tax rate is 25 %, find out the value of the firm?
Microeconomics is the study of economics at the individual or micro level. One of the most well known microeconomic models is the production possibilities frontier,
Assume the demand curve for a monopolist is Qd=500-P, and the marginal revenue function is MR=500-2Q. The firm has a marginal and average total cost of $50per unit.
what is the least-cost input-combination of labor and capital and how much output is produced with that set of resources?
Consider a market characterized by the following inverse demand and supply functions: PX = 10 - 2QX and PX = 2 + 2QX?
Assume government forced a minimum wage above what otherwise would be equilibrium wage rate for this segment of the labor market.
Compute the physical units of production. Compute equivalent units of production for materials and for conversion costs. Determine the unit costs of production.
Each instance which follows is an example of one of four types of market failure (imperfect market structure; the existence of public goods; the presence of external costs and benefits; and imperfect information).
There is the firm that has pricing control of its output and is capable to identify its consumers in two groups. The total quantity demanded for its output is the summation of quantity demanded by the two groups,
A firm sells in a competitive market in which price is $10. Its marginal cost is 2 + .5Q. Find out the profit-maximizing level of output.
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