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A country that does not tax cigarettes is considering the introduction of a $0.40 per pack tax. The economic advisors to the country estimate the supply and demand curves for cigarettes as: QD = 140,000 - 25,000P; QS = 20,000 + 75,000P, where Q = daily sales in packs of cigarettes, and P = price per pack. The country has hired you to provide the following information regarding the cigarette market and the proposed tax.
b. What price and quantity would prevail after the imposition of the tax? What portion of the tax would be borne by buyers and sellers respectively?
c. Calculate the deadweight loss from the tax. Could the tax be justified despite the deadweight loss? What tax revenue will be generated?
What do you imagine about the interest on payday loans is too high or just right.
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The saving in manufacturing costs, owing to the special tools, is estimated to be $150,000 per year for 5 years. Assume MACRS depreciation for the special tools and a 39% income tax rate. What is the after-tax payback period for this investment?
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A firm faces a demand where q = 256/p^2 . q is quantity demanded, P is price. Its P2 total cost function is TC = 0.5q^2 + 10 . What is its total revenue function in q? What is its profit function? What is its marginal revenue function? What is its ma..
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The component of Planned AE (the quantity demanded of GDP) MOST sensitive to a change in interest rates is....
In what way (or ways) is the current Knowledge Revolution a child of the Industrial Revolution? Is this a new revolution or simply an extension of the 18th-century revolution? Given the history, is it perhaps more appropriate to call the current revo..
When the actual Lorenz curve is as far away from the 45-degree line as possible, there is. One way to reduce the degree of income inequality is to. The Gini coefficients for countries A and B are 0.25 and 0.30, respectively. We can definitely conclud..
For each of the next 7 years, he received total dividends of $50 per year. For the remaining period, he received total dividends of $100 per year. What rate of return did he make on the investment?
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