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Welfare Effects of a Per Unit Tax
Given the Qd = 1000 - p and Qs = 3p-120, suppose the government imposes a per unit tax of $64:
Solve for the new equilibrium quantity (Q**), the sellers price (Ps), and the consumer’s price (P**).
Solve for consumer surplus, producer surplus, government revenue and total surplus with the tax.
Solve for the change in consumer surplus, the change in producer surplus, the change in government revenue and change in total surplus (i.e. the deadweight loss) from the market without the tax.
Three estimators at Tech Engineering have come up with the estimates of cash flows as shown in the table below for a project with a life of 10 years. Compute the expected NPW at 20%.
What happens to hours of work when non-labor income decreases? Does such a non-labor income change generate a substitution effect? Why might we expect welfare programs create work disincentives? What happens to the probability that a particular perso..
Convert a constant dollar payment of $1,000 made 6 years from now into actual dollars in that same time period (i.e. 6 years from now) Given that market interest rate i = 10%, inflation rate f = 5% annual. A personal property asset has a purchase pri..
Identify and describe four means of political risk adaptation. Give a cited source for each mean. I know what the four means are of political risk adaptation the problem I'm having is where do I find websites to give examples of these. If someone cou..
Derive the total supply function of X for the industry assuming that the industry operated under perfect competition.
Illustrates what have presidents justified under principles of "immediate needs of nation" and a mandate from people.
Who were the stakeholders primary also secondary most affected by Google's original decision to self-censor in China.
A product has an arc elasticity of -0.8. at a price of $7.00, 1000 units are sold per period. In order to sell 1200 units, what will the new price be. Illustrate what is the revenue at the old price ($7.00)and the new price.
Assume an open, mixed economy (C + I + G + X = real GDP) and an MPS of .2. Explain if it would be expansionary, contractionary, or useless to the economy to increase government expenditures by $50 billion and also increase taxes by $50 billion.
The normal supply and demand models take the supply and demand of a particular good and show that the equilibrium price is where the two curves intersect. At this point, all the people below the equilibrium point value the good as worth less than the..
What were the strengths and weaknesses of the system of central planning in the Soviet Union? Was the decline of socialism in Eastern Europe the result of purely economic facture? What role was played y politics and culture?
Using existing plant and equipment, Priceless Moments Figurines can be manufactured using plastic, clay, or any combination of these materials. A figurine can be manufactured by F = 2P + 5C, where P is pounds of plastic and C is pounds of clay. Plast..
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