Levied on groceries or meals at fancy restaurants

Assignment Help Business Economics
Reference no: EM131085125

Would the DWL of a tax be larger if the tax (assuming the same size of tax per unit of product) were levied on groceries or meals at fancy restaurants? ? In order to minimize the DWL of a tax, should the government levy tax on groceries or meals at fancy restaurants? Is it fair? Please explain.

Reference no: EM131085125

Questions Cloud

Which process is economically efficient : A firm plans to produce 1,000 units per day of good X. The firm’s production engineer finds two technically efficient processes (i.e., input combinations of labor and capital) to produce 1,000 units per day: If the firm must pay $200 per day for a un..
Phase voltage and the line voltage : If the supply frequency is 50 Hz and the line current is 3 A determine (a) the phase voltage and (b) the line voltage.
Planning and controlling-making the right decisions on time : There is a new small entrepreneurial solar power business in town. In today’s competitive environment, partners are struggling with a series of management and environmental issues. For example; finding the right target market that would respond the b..
Core of non-magnetic material : A coil of 300 turns, wound on a core of non-magnetic material, has an inductance of 10 mH. Calculate: (a) the flux produced by a current of 5 A;
Levied on groceries or meals at fancy restaurants : Would the DWL of a tax be larger if the tax (assuming the same size of tax per unit of product) were levied on groceries or meals at fancy restaurants? ? In order to minimize the DWL of a tax, should the government levy tax on groceries or meals at f..
Online rental services to their in-store rental services : In January of 2007 online movie rental service Netflix introduced a new feature to allow customers to watch movies and television series on their personal computers. Netflix competed with many video rental retailers, which added online rental service..
Determine the resistance of the resistor : Determine the resistance of the resistor and express the value both in error form and in percentage error form.
Estimate the voltage across the resistor : The current in a circuit is measured as 235 μA and the accuracy of measurement is ±0.5 per cent. The current passes through a resistor of resistance 35 kΩ ± 0.2 per cent. Estimate the voltage across the resistor.
Correctly labeled aggregate demand and aggregate supply : Draw a correctly labeled aggregate demand and aggregate supply graph illustrating an economy that was experiencing a recessionary gap. From the perspective of classical economics, model what adjustment is likely to take place in either a product or f..

Reviews

Write a Review

Business Economics Questions & Answers

  Bidding for government contracts

You are the manager of a firm that competes against four other firms by bidding for government contracts. While you believe your product is better than the competition.If this legislation is passed, by how much should you expect your profits to chang..

  Present value of the net benefits for the use of resources

Suppose the MWTP in periods 1 (now) and 2 (one year from now) is given by P = 8-0.4q. Marginal extraction cost = $2. r = 20%. The available supply is 20 units. Calculate the allocation of outputs across the two periods that maximizes the present valu..

  Describe the characteristics of optimal contracts

Describe the characteristics of optimal contracts in principal-agent problems when the agent (manager) is risk neutral.

  How will the fed''s relatively recent authorization to pay

How will the Fed's relatively recent authorization to pay interest

  Balance the need for scalability against

Your company is bidding on a system design project. It is your job to design the system architecture. How will you balance the need for scalability against the need to keep costs as low as possible to win the bid?

  Dynamic pricing affect ticket sales-total revenue and profit

How does Ticketmaster's "dynamic pricing" affect ticket sales, total revenue and profit? Does Ticketmaster provide a valuable service, or is it a necessary evil to purchasers of event tickets?

  Exposure to exchange and interest rates fluctuations

A U.S.-based MNC imports 30 percent of its supplies from Europe. Exports to Europe, which are invoiced in Euros, account for approximately 50 percent of its revenues. Explain how the MNC can reduce its economic exposure to exchange and interest rates..

  Frigid florida winter is bad news for tomato lovers

An unusually cold January in Florida destroyed entire fields of tomatoes. Florida’s growers are shipping only a quarter of their usual 5 million pounds a week. The price has risen from $6.50 for a 25-pound box a year ago to $30 now. - Source: USA Tod..

  Find ticket price that maximizes revenue

Find ticket price that maximizes revenue. Find profit-maximizing expenditure on players and profit-maximizing fraction of games to win.

  Compute the profit-maximizing level of price and output

If this industry acts like a monopolist in the determination of price and output, compute the profit-maximizing level of price and output

  Transactions involve spot exchange-vertical integration

Determine whether the following transactions involve spot exchange, contracts, or vertical integration. Explain.

  Plan to deposit an additional

You have $21,512.72 in a brokerage account, and you plan to deposit an additional $5,000 at the end of every future year until your account totals $240,000. You expect to earn 14% annually on the account. How many years will it take to reach your goa..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd