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The city government is considering two tax proposals:A lump-sum tax of $300 on each producer of hamburgers; or A tax of $1 per burger, paid by producers of hamburgers.
a. Which of the following curves- average fixed cost, average variable cost, average total cost, and marginal cost- would shift as a result of the lump-sum tax? Why? Show this in a graph. Label the graph as precisely as possible.
b. Which of these same four curves would shift as a result of the per-burger tax? Why? Show this in a new graph. Label the graph as precisely as possible.
Plot a graph of GDP per capita against life expectancy for the countries shown. Does your plot con?rm the Pritchett and Summers ?nding?
Which are the most important hypotheses that follow from this theoretical approach to geographic mobility. Discuss how higher proportional and progressive income taxes are likely to affect the mobility decision.
State thes implified version of the problem in which the household chooses tomorrow's capital stock instead of today's investment .2 Given the Setup in 1.1, state the current value Lagrangian. .3 State the household's first-order conditions for cons..
You manage the plant the mass produces engines by teams of workers using assembly machines. The technology is summarized by production: Find out the short run production function? Find out the total cost function for your plant to produce q engines ..
There are 10 identical firms, each firm's marginal cost is MC(q)= 5 + 5q. The market is competitive. derive the market demand function.
Provide an example of the price discrimination for good or service which you thought it to unfair. Do you still believe that the discrimination is unjustifiable.
Calculate John's maximum daily profit and what is John's supply curve? Mathematically represent and then explain.
How would an increase in the world price of oil affect the amount of frictional unemployment. Is this unemployment undesirable. What public policies might affect the amount of unemployment caused by this price change.
Depict an isoquant map depicting a typical firm's use of two inputs - white and black labor. Label its slope. What would be the effect of an increase the price of black labor from $12 to $13 and a decrease in the price of white labor from $13 to $12..
Ann McCutcheon is hired as a consultant to a firm producing ball bearings. This firm sells in two distinct markets, each of which is completely sealed off from the other. What price should managers charge in each market?
Could you identify and describe the concepts of scarcity and opportunity costs. Also, explain the laws of supply and demand and how they are related to the concepts of scarcity and opportunity costs in decision-making.
How does price elasticity of demand affect how much of a tax is passed on to the consumer and how much is absorbed by the seller. Show the effect with graphs.
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