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1. Using your understanding of tax incidence explain why some states do not charge sales tax for basic foods.2. Explain how the elasticity of demand influences tax revenues?3. Define progressive, regressive and proportional taxes and give an example of each.
Explain for economic concepts that you consider important. Justify your answer?Explain the importance of elasticity as a analytical tool for macroeconomic analysis?
Describe the firms optimal advertising-to-sales ratio.
Determine the quantity demanded, the quantity supplied, and the magnitude of the surplus if a price floor of $50 is imposed in this market.Determine the quantity demanded, the quantity supplied, and the magnitude of the shortage if a price ceiling..
Suppose demand function has changed t0o Qd2 = 14-P. What is the new equilibrium price and quantity. Show your work
This exercise is an illness which has caused three capable observable things to happen. What are they?
Would you assume this as an externality, and if you do, what would you suggest be done about it.
Prepare a analysis by answering the questions below. Be sure to cite your references using APA format.
Compute the implied arc income elasticity of demand. Holding all else equal, would a further increase in price result in higher or lower total revenue.
Proide that the economy grows is allowed to grow through the banking system and the creation of money through lending.
Calculate the value of the objective function over the 5-year period and which policy is best? Why?
Each demand curve must eventually hit the quantity axis because with limited incomes there is always a price so high that there is no demand for the good.
What are the advantages of Fed increasing interest rates if the GDP gap is positive?
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