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1. The marginal benefit (demand) curve for pollution for an industry is P=100-4*Q, where Q is emissions in tons. The current emissions tax (price) for pollution is $40/ton. Regulators are curious if a 10% decrease in the pollution tax will lead to a disproportionate percentage increase in emissions. You calculate the elasticity of pollution demand and conclude (choose one):
a. Demand is elastic. A reduction in the tax will lead to a disproportionately large increase in emissions.
b. Demand is elastic. A reduction in the tax will lead to a smaller than proportional increase in emissions.
c. Demand is inelastic. A reduction in the tax will lead to a disproportionately large increase in emissions.
d. Demand is inelastic. A reduction in the tax will lead to a smaller than proportional increase in emissions.
You just opened a flower shop and are trying to understand pricing issues. You were told that elasticities are very important in determining prices and what products to supply, so
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In fall 2006, Pace University raised its annual tuition from $24,750 to $29,750. Freshman enrollment declined from 1500 in fall 2005 to 1110 in 2006. assuming the demand curve did
how to find total revenue total cost approch in equilibrium firms
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