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An increase in the excise tax on alcohol?
a)will have no effect on alcohol consumption
b)will generate minimal tax revenues for the federal government
c)couped with a uniform drinking age nationwide would save lives
d)will generate substantial revenues is demand is elastic
e) all of the above
)Determine the range of prices for which the firm earns a profit. 3) Calculate the profit maximizing output and the resulting profit when price is $101.
We make selections as customers every day. Opportunity cost is defined as a person's next best alternative or cost of what you give up when you make a choice.
Which of the following is an example of a two-part tariff? Which of the following industries is most likely closest to achieving perfect price discrimination?
Calculate the incremental profit that south park would earn by customizing its instruments and marketing them directly to end users.
Find all Nash equilibria in pure strategies and what is the Pareto Optimal outcome under collusion? Show that this outcome is not sustainable.
Calculate the number of physicians, per thousand population in Canada, from 2002 to 2005. What conclusions can be drawn about the physician coverage of Canada's opulation?
A production lot of 25 units required 103.6 hours of effort. Accounting records show that first unit took seven hours. What was the learning rate?
State the commodity in which each country has absolute advantage and identify the commodity of comparative advantage for each country
The problem in economics in price theory deals with deriving maximum marginal utility and marginal rate of substitution.
Suppose labor costs are 17.5% of revenue per vehicle for General Motors. In union negotiations throughout the late 1990s, GM attempted to cut its workforce to increase productivity.
Students fascinated with your explanation and eager to learn more, ask about the shape of the demand and supply curve in each industry. Provide a demand and supply graph for each industry to explain. Label equilibrium price and quantity.
Rent-seeking behavior results in a)increased economic activity by promoting efficiency b)lower economic acitivity by diverting resources to less-productive uses c)a more equitable distributionof income and wealth
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