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Carmen, the Queen of Electra, is concerned over what she believes is an excessive consumption of electricity. Consequently, she proposes an excise tax on electricity consumption which, if implemented, would add $500 per year to the taxes of the average Electran household. An advisor to the Queen warns of a consumer backlash and suggests the following amendment-give the $500 back in the form of a tax rebate. The Queen thinks this is the dumbest idea she's ever heard. She reasons that such a plan would do nothing to reduce electricity consumption since the plan would take away $500 with one hand, but give it back with the other!
Do you agree with the Queen or not? Fully explain your answer using standard indifference curve analysis.
when the demand function is 2Q-24+3P=0,find the marginal revenue when Q=3.
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explain the traditional theory of cost with suitable diagrams.explain why LAC curve is not U shaped?
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dicuss the relevance of studing production theory and analysis inn your career as a student of manegerial economics
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