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A country that does not currently tax cigarettes is considering the introduction of a $0.40 per pack tax. The economic advisors to the country estimate the supply as well as demand as well as curves for cigarettes as:
Qd = 140,000-25,000PQs = 20,000+75,000Pwhere Q= daily sales in packs of cigarettes as well as P = cost per pack. The country has hired you to provide the following information regarding the cigarette market as well as the proposed tax:
a) What are the equilibrium cost as well as quantity with no tax?
b) What cost as well as quantity would prevail after the imposition of the tax? Illustrate the portion of tax which would be borne by buyers as well as sellers, respectively?
c) Calculate the deadweight loss from the tax. Illustrate that the tax be acceptable in spite of the deadweight loss? What tax revenue will be generated?
The consumer is indifferent between B and a lottery ticket with probabilities. Construct a set of von Neumann - Morgenstern utility numbers for the four situations.
For each option calculates the profit-maximizing price and quantity. Which, if any, of these compensation schemes would alter the deadweight loss from monopoly.
Population growth in developing nations has proceeded at unprecedented rates ower the past few decades.
What, how and for who apply to the following the economic decision. Should the company makes its own spare parts or buy them from an outside vendor.
What reliance performance would be measured efficient. Elucidate reliance behavior which would be considered excessive.
Why would we expect that the price elasticity of demand for the product of an individual firm would typically be greater than the price elasticity of demand for the product overall.
Differentiate the equilibria of model. Also the classification should be a function of the bliss point of the candidates.
How should labour be allocated between x and y to satisfy the demands calculated in part.
At present, the original manufacturer is deciding either they should continue production of toy truck.
Each customer purchases their smoothie at the store where the total cost, i.e. price of smoothie plus travel cost, is the lowest.
Assume an endogenous growth model with labour augmenting technology.
Disposable personal income equals personal income and two factors are the keys to determining labour productivity
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