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Q1. Assume that in the preceding problem, the government levies an excise tax of $5 per dose on the monopolists. Illustrate what would happen to the monopolists' profit-maximizing output and price? Illustrate what would happen to consumer and producer surplus? Explain how more money would the government collect due to the tax? Illustrate what would be the size of the resulting deadweight loss relative to the competitive outcome?
Q2. Assume you elasticity of demand for your parking lot spaces are -o.5, and price is $20 per day. If your MC is zero, and your capacity at 9 A.M. is 96% full over the last month, are you optimizing?
If supply at every price is reduced by five gallons, what will the new equilibrium price be.
Describe the international monetary system known as the Bretton Woods system, or the gold exchange standard that existed from the mid 1940s to the early 1970s.
If the demand for gold residue high explain what would happen to the price in excess of time.
Now suppose your utility functioin is U= (square root)Wealth. What is the maximum you will pay for the bike check-in now.
Decide to conduct a SWOT analysis to evaluate the value and risks. Provide a SWOT analysis and briefly discuss each factor.
Describe the changes in the model parameter(s) and resulting changes if any in the hiring decisions of the three types of firms.
What would be a short-term impact on the production of the corporation. Illustrate what would be the long term.
Suppose that an increase in crime (O) also results in a per unit amount of social damage equal to d(d>0).
Use the 2007 numbers in the first column to compute, for each of the four countries, the percentage gap between the steady-state ratio.
Calculate whole expected convenience from each restaurant option and also compare?
Explain how does this affect the supply of beef. Explain how does it affect the supply of beef worldwide.
Economic surplus could be increased at a higher price because firms would generate more revenue.
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