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Calculating deadweight loss in the given case
Brown guitar company hires you to consult and you estimate the demand for guitars to be Q=9000-6P. The supply of guitars is given by Q= -3000+9.
1 What is the equilibrium price and quantity of guitars?
2 What is the price elasticity of demand at the equilibrium price and quantity?
3 What is the price elasticity of supply at the equilibrium price and quantity?
If a per-unit excise tax of $ 90.00 per guitar is levied on the consumers, what price would consumers pay after the tax is levied ? What proportion of tax will be paid by the supplies of guitars? How many guitars will be sold after tax is imposed? How much consumer surplus do consumers get after the tax? What is the dead weight loss created by tax?
Using the IS/LM model, demonstrate the effect of each of the following changes.
Suppose the CFO of a German corporation with surplus cash flow has 1 million Euros to invest. Suppose that interest rates on 1-year CD deposits in U.S. banks
Use the price-cost formula to determine whether or not the firm's operations are productively-efficient. (e) Use the price-cost formula to determine whether or not the firm's operations are allocatively efficient.
Would your answer change if you thought different German also Japanese policies may facilitate different US policies.
Lawn mowing services are supplied by a host of individuals in the suburb of Westbrook. Demand and supply conditions in the perfectly competitive domestic for lawn mowing services are:
Firms supply. Credit Check, Inc., offers credit checking services to credit card companies and retailers. What is the minimum price necessary for the firm to supply one thousand credit checks?
Read the following text and answer the questions below: Discuss the limitations of this model as an explanation of the effects of government expenditure on GDP.
A firm with costs C(Q) = 1,000 + 60Q + 0.1Q2 is able to price-discriminate-What would happen if it were forced to charge all its customers the same price?
Given the Demand curve for flyswatters Q = 500-50P, estimate the quantity demanded for the following prices.
You are the manager of a local sporting goods store. Given the reservation prices, determine your optimal bundle pricing strategy.
If your payroll (budget) is increased to $120,000, what should you do to maximize the number of customers served?
Compute the total revenue and total economic profit at each level of output. Compute the pizza shop's marginal costs and marginal revenue level of output. What is the profit maximizing rate of output for pizza shop?
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