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Beatriz enjoys writing and uses a large amount of paper. Currently, paper costs 2 cents per sheet. The formula for her demand curve is S = 52500 Ac€?o 5000PS , where PS is the price of and S is the number of sheets purchased. The governor of her state proposed taxing paper at the rate of $0.50 for each 100 sheets. Assume that this policy would increase the price of paper to 2.5 cents per sheet (including tax).
a. Draw BeatrizAc€?c demand curve. Using the method described in Section 6.2, compute the change in her consumer surplus for the proposed tax increase.
b. How much revenue will the government raise by taxing Beatriz? How does that revenue compare to her economic losses? Does the new tax raise enough revenue for the government to compensate her for her loss?
In city B, the value of an apartment also falls the further it is from the business center, yet the fall goes down gradually. For example, an apartment one kilometer away will lose 20 percent of its value and an apt 2 kilometers away will lose onl..
Assuming the cost curves have the usual shape, is the dollar difference between the average total cost and the average variabe cost greater when the output is 10,000 tennis balls or when the output is 30,000 tennis balls
A diesel generator for electric power can be purchased by the remote community for $480,000 and used for 10 years, when its salvaged value is$50,000. Alternatively, it can be leased for $70,000 a year.(Remember the lease payments occur at the star..
Consider the market for a product with two types of potential users: those in proportion f have inverse demand schedule P = 5 - 0.5 Q, while the remaining 1 - f have inverse demand P = 10 - Q. Normalize the total number of consumers to 1, and let..
Answer in an essay between 750 and 1200 words.How does the music of the Classical Era differ from the music of the Baroque? In your answer, be sure to discuss such concepts as accessibility, melody, dynamics, structure, and cadence.
Discuss what you have learned during the the classical argument paper assignment and how it will assist you in upcoming papers.
Let MUa=z=10-x and MUb=z=21-2y, where z is marginal utility per dollar measured in units. x is the amount spent in product A. y is the amount spent on product B. Assume that the consumer that the consumer has $10
suppose you work for an original equipment manufacturer (OEM) who makes component pieces for a telecommunication company. The telecom company asks you for a price quote for 2,000,000 units that will require a $1,000,000 investment
(1)Suppose a firm produces and sells its output at $38 per unit, in what market is such a firm operating (2)Determine the economic capacity of the firm in part(1) if the firm's total cost function is TC(Q)=40Q-2Q2 +0.5Q3
A recently developed citrus orchard will come into full bearing after 6 years. Starting at the end of the 7th year of operation and continuing through a productive life which lasts till the end of the 26th year, the orchard is expected to produce ..
Suppose that economists have made the following projections for the coming year Exports $540B, imports $710B, capital outflow $320, capital inflow $420. As the year is unfolding, it turns out that these projections are proving to be quite accurate
The company's new economist has calculated a short-run production function as follows: Q = 7L + 0.6L^2 - 0.1L^3 . Where Q is the number of widgets produced per day and L is the number of production workers working an eight-hour day.
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