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Qd = 12 - 2P
Qs = 2 + 3P
Find equilibriumium P&Q
Assume that a $1 tax is imposed on the seller. The new Qs is: Qs = 2+3(P- I )
Find the new P&Q.
What proportion of the tax is paid by the seller?
What proportion of the tax is paid by the buyer?
You are the marketing manager for XYZ Corp. You have this regression result for your product:
Q = 2000 - 3.S*P + 1 .2*1. Right now, your price is 10, and the average income of your customers is
$30,000.
compute income elasticity
Is your good a normal good or an inferior good?
You expect a recession. You estimate that your customer's average income will fall 5% due to this recession. Estimate the impact on your sales.
Suppose the economy produces only two goods: consumer goods and capital goods (K). Also suppose the economy is operating at full employment. Finally, suppose consumer goods are subject to legal price controls (price ceiling). Use a PPF to show the ec..
Which of the following statements is correct? a. The firm’s profit maximizing level of output will be found only in the elastic portion of the linear demand facing the firm. b. The firm’s profit maximizing level of output will be found only in the in..
Suppose a firm faces the following demand for its output q: q = a + bp, where p represents the price it receives per unit sold. Let α be the x-intercept of this demand curve (p plotted on the vertical axis and q on the horizontal axis). Let β be the ..
Assume that the market for Coca-cola in your area is perfectly competitive, with Demand P= 11-0.1Qd and supply P= 1+ 0.1Qs. Each firm that sells Coca-cola is indentical, with Total Cost TC= 1+0.5Q+2Q? Which gives Marginal Cost MC= 0.5+4Q. Currently t..
If the labor supply curve is very elastic, a tax on labor:
structure of the essayintroduction which topic 300 wordsbody- discuss the topic from your secondary research with
What problem is the economy facing? Assume you are a governor on the Federal Reserve Board of Governors. What type of policy (easy money or tight money) would you recommend to fix the problem you identified in question 1? What could happen in the eco..
What are the pros and cons of the Economic Stimulus Bill (The American Recovery and reinvestment act of 2009). Provide your arguments and defence for a method to jump start the U.S. economy in a time of recession.
The quantity demanded of the resource in each year is given by the equation Qt = 10 - Pt . The marginal cost of extraction is zero.
Sometimes market activities (production, buying, and selling) have unintended positive or negative effects outside the market's scope. These are called externalities.
q1. the total operating revenue of a public transportation authority is 100 million while its total operating cost is
Bob and Terri each make $40,000 per year and have $5,000 cash in the bank. Bob has a risk of loss of $2,000 (30%), $3,000 (30%) and $0 (50%). Terri has a risk of loss of $300 (40%), $40,000 (5%) and $0 (55%). Who needs to buy insurance the most? Calc..
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