4.Use the graph to the right of the market for cigarettes to answer the following questions.12.0011.00-10.00-9.00-8.00-7.00-6.00-5.00-4.00-3.00-2.00-1.00-0.00-8 12 16 20 24 28 32 36 40 44Quantity (billions of packs per year)4a. According to the graph, how much is the government tax on cigarettes?b. What price do producers receive after paying the tax?c. How much tax revenue does the government collect?Price (dollars per pack)

a) In the diagram, the supply curve of cigarette shifts from S1 to S2, it means the tax levied on…

Answered: Use the graph to the right of the…

Macroeconomics

13th Edition

ISBN:9781337617390

Author:Roger A. Arnold

Publisher:Roger A. Arnold

ChapterA: Working With Diagrams

Section: Chapter Questions

Problem 1QP

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1. Show the market for potatoes on a graph and show what will happen if there is a drought in Idaho (where a lot of potatoes are grown) b. On another graph, show what will happen in the market for potatoes if there is a drought in China (where, I presume, a lot of rice is grown).
Suppose that a hypothetical “consumer market basket” consists only of Goods B and C, in the quantity: B = 10 and C = 6. As in question #1, use 2021 as a base year (i.e., 2021 = 100). Year 2020 Year 2021 Year 2022 Quantity of Good A 10 12 14 Price of Good A $0.50 $1.00 $1.50 Quantity of Good B 3 6 9 Price of Good B $1.00 $2.00 $3.00 Quantity of Good C 20 20 20 Price of Good C $0.25 $0.25 $0.25 If an individual’s nominal income rises 50%, what is the…
1. A) Fill in the blanks in the table below. What is the value of TFC? Q TC TVC AC AVC AFC MC 1 $100 2 $70 3 $127 $37 4 $216 5 $49 6 $46 7 $399 8 $62 B) Draw two graphs using the numbers derived above – one graph showing TFC, TVC, and TC and the other showing AFC, AVC, AC, and MC.
29. A consumer is trying to decide between purchasing one smoothie or one cappuccino. They get 30 utils of enjoyment from cappuccino and the cappuccino cost $5 and they get 40 utils of enjoyment from the smoothie. Below what price will they decide to buy the smoothie? This cannot be solved unless we are given the price of the smoothie. $8.00 $6.00 $6.67
# 10 An example of efficiency in economics is Select one: Satisfying wants with as many resources as possible Simplifying reality in economic models as much as possible Minimising outputs given inputs Maximising outputs given inputs
1. Consider the winter activity of skiing. Assume that the rental cost of ski equipment is $120 and the lift ticket costs $66. If you go skiing, you would wear the ski jacket you purchased last year for $190. If you do not go skiing, you could either work at your part-time job, which would earn you $101, or study at the library, which you value at $28. Suppose that you were planning to spend Saturday working at your part-time job, but a friend asks you to go skiing. What is the opportunity cost of going skiing? Enter a whole number and no dollar sign. 2. Country A and country B both produce toasters and sweaters. In country A each worker in a day can produce either 5 toasters or 20 sweaters. In country B each worker in a day can produce either 3 toasters of 18 sweaters. Each country has constant opportunity cost of production and each has 100 workers. Enter whole numbers in each blank. Initially the two countries do not trade. Country A allocates 60 workers to toaster production and…
Prepare a SWOT analysis using the details below. Maria is planning to open up a Cafeteria near her house. She closed her previousCafeteria few months ago because the rental keeps getting higher and the income is decliningbecause of the COVID19 pandemic. It came up to her the idea to open again since a lot ofpeople are asking for online delivery of their favorite snacks offered in her shop since most ofthe people would stay at home and would prefer food delivered in their doorsteps. Since sheowned a vacant lot near her house, and she thought that re-opening her shop in that locationwould be a great idea and she will not pay rentals anymore. And her Café Services will stillcontinue but with the added services like the Food Panda does.
5. Please use the formula provided to answer the problem
3. Recycling CanFor the past 10 years, five Colorado cities have held a recycling contest to see which citydoes the best job of recycling plastic, glass, and aluminum. Those participating in thisyear’s contest are Arvada, Centennial, Lakewood, Highlands Ranch, and Parker.To make the contest fair for both large and small cities, the winning city will be the one that recycles the largest number of cans per capita—the number of cans recycled dividedby the number of city residents. 0.02 per can Recycling Can Contest City Population Jan Feb Mar Total Per Capita Arvada 15,855 10,505 24,556 12,567 Centenntial 28,951 24,567 21,777 26,719 Lakewood 142,547 102,376 105,876 121,987 Highlands Ranch 2,801,561 2,714,664 2,503,344 1,999,877 Parker 1,689,908 1,523,665 1,487,660 1,002,545 Total -…
1. Suppose that the price of oranges is $1 per unit and the price of pencils is $70 per unit. Inaddition, suppose that your income is $1900. If you spend all your money an oranges, how many oranges can you buy?
12)Suppose a consumer has $100 to spend on two goods, shoes and shirts. If the price of a pair of shoes is $20 per pair and the price of a shirt is $15 each, which of the following combinations is unaffordable to the consumer? A) 0 pairs of shoes and 0 shirts B) 2 pairs of shoes and 4 shirts C) 5 pairs of shoes and 0 shirts D) 0 pairs of shoes and 7 shirts E) 2 pairs of shoes and 3 shirts
10. Please use the formula to solve the problem

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