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Draw a Demand Curve. Your state has decided to offer its citizens vanity license plates for their cars and wants to predict how many vanity plates it will sell at different prices. The price of the state's regular license plates is $20 per year, and the state's per-capita income is $30,000. A recent survey of other states with approximately the same population (3 million people) generated the following data on incomes, prices, and vanity plates:
a. Use the available data to identify some points on the demand curve for vanity plates and connect the points to draw a demand curve. Don't forget ceteris paribus.
b. Suppose the demand curve is linear. If your state sets a price of $50, how many vanity plates would be purchased?
suppose in Fiscalville there is no tax on the first 10000 of income but a 20 % tax on earning between $10000 and $20000 and a 30% tax on earnings between 20000 and 30000. any income above $30000 is taxed at 40%. if your income is $50000.
Consider the following preliminary data from 2008: ($ in billions) GDP $14264.60 Factor Payments from Abroad $798.30 Factor Payments to Abroad $665.10 Consumption of Fixed Capital $1832.30 Indirest Business Taxes $1118.90 Corporate Profits and Relat..
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wITH CURRENT TECHNOLOGY, SUPPOSE A FIRM IS PRODUCING 800 MUFFINS DAILY. ALSO ASSUME THAT THE LEAST-COST COMBINATION OF RESOURCES IN PRODUCING THOSE MUFFFINS IS 4 UNITS OF LABOR, 8 UNITS OF LAND, 2 UNITS IF CAPITAL.
Frequently we read in the newspaper that one should lease a car rather than buying it. For a typical 24-month lease on a car costing $9400, the monthly lease charge is about $267. At the end of the 24 months, the car is returned to the lease compa..
Sentencing juveniles to adult prisons is like saying society has given up and there is no treatment that can affect their adult potential. It is the responsibility of society to treat juveniles and that treatment should be administered in juvenile fa..
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In the long run, Martha Mowers can assemble 300 mowers per week at a total cost of $18,000; 400 mowers at a total cost of $24,000; or 500 mowers at a cost of $35,000. Using the red points (cross symbol), plot the long-run average total cost (LRATC)..
In a short run, a firm's total costs of producing the hundredth unit of output equals $10,000. If it produces one more unit, its total cost will increase to $10,150. a. What is the marginal cost of the 101st unit of output
The estimated salvage value was $30,000. At the end of the 5th year the asset was sold for $90,000. From a tax perspective, what is happening at the time of disposal, and what is the dollar amount.
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