How does Stamp Duty work within Australia and what effects does it have on the ecomony?

Q: The revenue cost statement for a popular grocery store owned and operated by John Mathew is presente...

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and s...

Q: Petra has $480 to spend on DVDs and books. Abook costs $24 and a DVD costs $15. [LO 7.2]a. Write an ...

A: Answer - Given in the question - Total income "M" = $480 Cost of the book "P1" = $24 Cost of DVd "P2...

Q: 1. A) Suppose that the demand for milk increases because a new beauty treatment is discovered that u...

A: The demand for milk increases because a new beauty treatment is discovered that uses milk. This will...

Q: What are good economic institutions, why do so many developing countries lack them, and what can dev...

A: Economic institutions are the institutes or organisations that deal with money or with managing the ...

Q: Compare and contrast the economic, political and social climate of the late 1800's through the 1900'...

A: The era of late 1800 through 1900's is termed as progressive era in the history of country U. This w...

Q: How will a simultaneous increase in the price of a substitute good and an improvement in production ...

A: A market defines a place where households and organizations interact according to their interest and...

Q: Since 2019, the price of lithium in China has been falling (and it is predicted to continue falling ...

A: The law of demand refers to the inverse relationship between price and quantity demanded (other fact...

Q: Explain why it is not sensible to close a business firm if it earns zero economic profits.

A: zero economic profits is a situation in which a firm is average earning is just equal to its average...

Q: Investment A costs $10000 today and pays back $11500 two years from now. Investment Banking costs $8...

A: Cost of investment A = $10000 Pays back after two years = $11500 Investment in bank cost = $8000 Pay...

Q: 1. Classify each pair of goods as substitutes, complements, or independent. - shoes and sandals  - b...

A: According to the nature of demand of the good, a good is classified as a substitute, complement or i...

Q: What are the incentives for firms in an oligopoly to collude or work together? Has price collusion h...

A: Oligopoly: There are only a few but large producers/firms, who have catered to a huge group of custo...

Q: Define the four ecconomic resources (the factor of production).How are they Relevant to the producti...

A: Economic resources or factor inputs are used in production of output. These are also known as factor...

Q: Inflation in Theoretica is currently below the target range of its central bank. What does this tell...

A: Inflation targeting is a banking system policy to identify inflation as an objective that relies mai...

Q: Which of the core principles (1) Scarcity, Choice and Opportunity Cost, 2) Cost-benefit, 3) Incentiv...

A: As human wants are unlimited, economics deals with the best way to interact with these wants using s...

Q: Show that indifference curves are (a) convex to the origin (b) cannot intersect one another? What be...

A: An indifference curve is a combination that represents the number of goods and services which provid...

Q: A child budget is 3 dollars and she has two options 1)ice cream 2) cake. Her utility function is u(x...

A: Hi student, thanks for posting the question. As per the guideline we are providing answer for the fi...

Q: Why might a service business be more selective than a goods-producingbusiness regarding the customer...

A: Supply is the relationship between the price of a commodity and the the goods and services to be pro...

Q: Why is monopolistic competition the most common market structure?

A: Monopolistic competition is a market where differentiated products are being supplied by many firms ...

Q: What factors hinder firms in monopolistic competition from earning economic profits in the long run?

A: Monopolistic competition is a form of imperfect competition where there are a large number of buyers...

Q: Solve it correctly all subparts. I upvote you

A: The answer to the sub parts of your question are as follows :

Q: A group is planning its annual fund-raiser in which it raises money by selling pasta dinners. The gr...

A: A firm's profit is equal to its total revenue adjusted for total costs. All economic activities are ...

Q: For each question start with a supply and demand graph of the market for tennis rackets. What happen...

A: The demand curve shows the association between the amounts of commodity demanded by the consumer at ...

Q: We can divide normal goods into two types: Those whose income elasticity is less than one and those ...

A: The change in quantity demanded with a change in income is termed as income elasticity of demand. If...

Q: To make sure he has enough energy for the teaching, Ernie spares $60 every week tospend on Blue Bull...

A: Given: Budget, M = $60 every week Price of Blue Bull (Px) = $2, Price of Gigantic (Py) = $3

Q: Queation 1a, b, c

A: Utility = 2x0.5y0.5 Income = $100 Px= $1 Py=$2

Q: Explain why P=MC in the short run equilibrium of the perfectly competitive firm, whereas in long run...

A: Economic efficiency includes the allocative (P = MC) and productive (MC = AC) efficiencies. Both the...

Q: Is either helicopter money or quantitative easing preferred in times of severe recessions in order t...

A: Helicopter money and quantitative easing are the two monetary policy concepts which can be used alte...

Q: Suppose that you are a manager of a monopoly firm with the marginal revenue of R550 million and a ma...

A: A monopoly firm is a sole supplier in the market for specific products and services. It has the powe...

Q: The industry demand is P(y) = 14 – 2y. There are two firms with cost functions C1(y1) = 0 and C2(y2)...

A: "Since you have asked multiple questions, we will answer only first question for you. If you have an...

Q: Use the information in the table below to answer Q.3.1 to Q.3.3:GDP at market prices R397bnNet prima...

A: Net national income at factor cost can be calculated by6 using the following formula.

Q: Harry's income declines and as a result, he buys more pumpkin juice. Is pumpkin juice an inferior or...

A: A good is considered an inferior good if its demand is inversely related to the income of the consum...

Q: Compare marginal revenue, marginal cost, and marginal revenue product.

A: The concepts of marginal revenue, marginal cost and the marginal revenue product are used by the pro...

Q: What is the role of the Council Economic Advisers (CEA) as it relates to the effectiveness of the re...

A: The Council Economic Advisor or CEA created as in the Employment act of 1946, assists and advice the...

Q: Why might banks be reluctant to lend money if a country has a history of inflation rising unexpected...

A: The banks are the financial intermediaries and institutions that help the savers in the economy to d...

Q: a. Draw a figure depicting market equilibrium in the ice-cream market. Label the figure properly. Br...

A: a) To depict the equilibrium in the ice-cream market: The market equilibrium is where D1 & S1 i...

Q: Would you expect hidden unemployment to be higher, lower, or about the same when the unemployment ra...

A: Given the highest unemployment rate = 10% Lowest unemployment rate = 4%

Q: Would a cut in stamp duty and other purchase charges on the purchase of existing houses really boost...

A: Tax: Tax is a compulsory payment and the tax rate is decided by the government. Moreover, it is the ...