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Q. Assume the price of product Y (the quantity of which is on the vertical axis) is $15 and the price of product X (the quantity of which is on the horizontal axis) is $3. Also assume that money income is $60. The absolute value of the slope of the resulting budget line:
Q. Identify and explain the factors that determine who actually bears the burden of a tax increase on a specific good, such as gasoline, cigarettes, or some other product. Use at least two examples in your response. Is the incidence of the tax a consideration when government imposes this tax increase? Why or why not?
A purely competitive wheat farmer can sell any wheat he grows for $10 per bushel. His five acres of land Elucidate how.
Illustrate what is price should Big Steel set to maximize its profits. Explain how much steel will Big Steel sell? How much will its competitors sell.
sing specific data for an industry of your choice Elucidate how the benefits of such a policy.
Elucidate Illustrate what President Roosevelt might have been trying to achieve, using the model of aggregate demand also aggregate supply
Using appropriate diagrams and notations,carefully explain the relationship b/n elasticity, total revenue and marginal revenue. 2,discuss the uses of elasticity of demand.
A product has an arc elasticity of -0.8. at a price of $7.00, 1000 units are sold per period. In order to sell 1200 units, what will the new price be. Illustrate what is the revenue at the old price ($7.00)and the new price.
Suppose me also my roommate started a bagel delivery service on campus. List some of our fixed costs also express why they are fixed.
Elucidate the common kinked-demand model. In the oligopolist's marginal-revenue curve, elucidate the reason for gap. In this model explain how does price rigidity in oligopoly.
Under what situation would Gore be better off giving Bush a head start on putting mutually his presidential ticket.
sofa manufacturer presently is using 50 workers also 30 machines to produce 5,000 sofas a day.
Suppose the government increases G to 1250. Compute private saving, public saving, and national saving and the new equilibrium interest rate.
Does a lump sum tax cause the after tax consumption schedule to be flatter than the before tax consumption schedule.
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