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What tax T should it set to achieve the social optimum? To correct the externality, the government decides to impose a tax of T per unit sold.
The quantity demanded x of a certain brand of the DVD player is 3000/week when the unit price p is $485. The quantity demanded increases by 250 units for each decrease in unit price of $20 below $48
Suppose that the annual rate of inflation is 2%. Suppose that the market annual interest rate is 3%. Determine the real annual interest rate (compounded annually)?
Assume that the demand curve for a product is given by the P=36-Q where P is in thousands of dollars per auto and quantity is in millions of cars per year.
Illustrate an arbitrary budget constraint for a person, assuming that he or she receives no government subsidies. Then describe in the budget constraint that arises from the above housing subsidy pr
Assume the government put a tax on soda of $0.50 per can to be paid by consumers. Graph the before and after tax supply and demand curves. Determine the new equilibrium price and the quantity?
Suppose that Japan and Canada each have 1,000 production units available to them. With each unit, Japan can produce 3 bicycles or 6 books while Canada is able to produce either 8 bicycles or 2 books
A gas and oil XYZ company expects to form the 200,000 barrels of oil in time to deliver it on March 1, 2015. The management needs at least $30,000,000 for oil to pay the salaries, pay back loans, in
Suppose that the income elasticity of demand for tickets is +2.5. Also assume that the average household in the community makes the $20,000 per year and that about 6000 tickets are sold per year.
Assume now that the government requires that in order to buy food at half price this person must pay C dollars for a food credit card. Demonstrate graphically the maximum amount C
Determine the effect of an increase in the investment rate on the level of steady-state output per worker in the Solow model?
An indenture was a contract binding a person to work for another for a given length of time, as an apprentice to a master or an immigrant to service in a colony.
What type of return is occurring when the addition of one more unit of input results in a smaller increase in output then the previous unit?
Determine the table below when answering the following questions. The marginal propensity to save is constant at all levels of real GDP, and investment spending is autonomous for the hypothetical ec
Deregulation occurs when a government eliminates or scales back rules relating to all but one of the following. Which one is it?
Calculate the residual demand Intel faces after accounting for the quantity supplied by competitive fringe for any level of price.
Assume that Joe's twin brother Moe moves in, and his preferences are identical to Joe. There are now four people in the problem.
Describe why cooperative approaches may stand up to legal review more easily in unionized plants than in non-unionized environments.
Can you make a decision of what part of the business cycle the U.S. economy is currently in? Why? What factors lead you to this conclusion?
Ted's utility function characterizing the preferences over bananas and apples is U a,b= 4a + 6b^2. Determine the numbers of apples does Ted demand if Pa= .5 and Pb=1 , and he has $10 to spend?
Assume you make 30 annual investments in a fund that pays 4% compounded annually. If your first deposit is $6,000 and each successive deposit is 4% greater than the preceding deposit.
In certain industries, Japanese employers do not lay off workers. Therefore, they sometimes have excess supplies of goods that they cannot sell on the home market without lowering prices.
If the U.S. demand for Korean steel is price elastic, an export subsidy granted to Korean steel firms will increase Korea's export revenue.
A ad valorem tariff provides domestic producers a declining degree of protection against import-competing goods during periods of changing prices.
Charlie has utility function U(x,y)=24x1/2+y. What is the amount of good x that he consumes if he maximizes her utility, when price of x is 4, price of y is 1, and the income is 50 (in this case ut