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1. When a government wants to increase tax revenue, they will often increase the sales tax on gasoline. Using price elasticity of demand, explain why the tax would be placed on gasoline rather than, say, yachts. What might be the long run effect of raising the price of gas? In other words, who is harmed by the tax? Who benefits from such a tax? Are low-income households disproportionately harmed as compared to high-income households? Why or why not? 2. Your decision to pursue a higher-level degree is based on investment in human capital. What are the marginal costs and benefits of pursuing additional education and the inherent risks associated with this decision?
The contract reflects Boeing's effort to reduce costs and production bottlenecks resulting from supply shortages. The contract specifies prices and guarantees quantities of raw aluminum to be delivered to BCAG's suppliers.
The French government has recently increased the retirement age, a decision which is opposed through a large fraction of the French public, especially in students
Assume the market for wooden toothpicks is competitive. Earlier this week, in a nationally published study, 4 out of 5 dentists enthusiastically endorsed the benefits of toothpicking for dental health
Briefly explain why empirical consumer demand studies such as Patrick McCarthy's study of automobile demand are relevant to managers?
Was it a positive externality or a negative one?
the demand and cost curves for a monopoly firm are as followsaat what output and price will the firm maximize total
In a particular economy the labour force (the sum of employed and unemployed workers) is fixed at 100 million. In this economy, each month one percent of the workers who were employed at the beginning of the month loses their jobs, and 19 percent of ..
you would like to determine if the average golf scores for women are different from the average golf scores for men. a
a. do you agree or disagree with the statement that a monopolist always charges the highest possible price.? explain.
We will identify the existing effect of the economic factors on aggregate demand and supply. In addition, we will identify current recommended fiscal policies by government leadership.
The demand for energy in the United States is often described as persistently non-cyclical and not sensitive to prices effects. Describe the effect of each of the following on the demand or supply for gasoline.
Explain why supply is more elastic in the long run and explain what causes economies of scale. Can economies of scale and diminishing marginal returns apply to the same firm? Explain.
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