Suppose demand for comedy show tickets is given by P = 50 – Q and the supply for comedy show tickets is given by P = 10 + 4Q. Suppose a taz of $10 is levied. What will be the revenue per ticket received by the venue (producers) after the tax? O 42 O 44 O 34 O 38
Q: Jayden was recently hired for a job with an annual income of $36,000. Using the federal income rate...
A: * SOLUTION :-
Q: QUESTION 8 The nearest and largest trading partner with the United States is: OA. Canada. B. Mexico ...
A: "Since you have asked multiple questions, we will solve first question for you .. If you want any sp...
Q: Consider the following open economy SI model set up Y = 18000 C = 300 + 0.8(Y − 2500) I = 3500 − 400...
A: We have given Y= 18000 C=300+0.8(Y-2500) .... (1) I=3500-400r ....
Q: Person D is offered a the same game, for a price of £1.8. They decide are indifferent between partic...
A: A risk netrual person wil always be indifference between taking a lottery and not taking one. He is...
Q: Engineering economics Topic: Deferred annuity Question: Find the present worth of a series of equal ...
A: Given the quarterly payment, A = 750 Number of compounding periods, n = 18 years x 4 = 72 Interest r...
Q: Amy has $24.00 a week to spend on coffee and Quantity (cups of coffee per week) рop. 24- The price o...
A: Budget line: - it is the graphical representation of different combinations of two goods that a cons...
Q: 4.People in other countries want to hold U.S. dollars as a unit of account. medium of exchange. ...
A: When talking about US dollar in the international market, it can be said that most of the people rel...
Q: If a good is free, when will a consumer stop wanting to buy the good? Once the total utility equals ...
A: ''Since multiple questions are asked, we are supposed to answer one question'' Marginal Utility is...
Q: 22. In the case of a Giffen good, the demand curve will be A. O Horizontal В. Downward to the right ...
A: Giffen goods do not obey the law of demand which states that as price increases, quantity demanded f...
Q: Using the supply and demand functions below, derive the demand and supply curves if Y = $55,000 and ...
A: We have: The demand function for coffee Q = 8.5-p+0.01Y Supply function for Coffee Q = 9.6+0.5p-0.2p...
Q: The market for drones is perfectly competitive. Assume for simplicity that fractions of everything, ...
A: Given; Total cost; TC=292+q2 Marginal cost; MC=2q Market demand; Q=677-2P ...
Q: There is often litter along highways but rarely in people's yards. Provide an economic explanation f...
A: Externality: The unintended consequences caused by activities of the market create externalities. I...
Q: Discuss how race, citizenship, and gender intersect with economics and those intersections affect pe...
A: In communism and communist type of government, there is complete control and rule of government over...
Q: Derive the Hicksian demand and the expenditure function for u (x, y) = (0.3/7 + 0.7/9)*.
A:
Q: Using a standard normal distribution (mean=0, sd=1), calculate the following. (Answers in percentage...
A: A normal distribution with mean =0, and standard deviation =1 is called a standard normal distributi...
Q: What is the impact of recession in our economy?
A: The economies around the globe have a limit to the amount of resources available with them. The want...
Q: Demand for final consumption arises in Household sector only
A: To find : When do demand for final consumption arises.
Q: Suppose that you have analyzed the market and found that there has been a movement along the aggrega...
A: Aggregate demand is the sum of consumption, investment, government purchases, and net export. The a...
Q: Firm A and firm B sell identical Soma to a market that has inverse demand p= 120 – Q where Q is tota...
A: Cournot equilibrium price and quantity quantity produced by firm A=q1 quantity produced by firm B=q2...
Q: You pay a cover charge of $50 to get into a popular local nightclub. As the DJ is playing and you ar...
A: Opportunity cost is the cost that is incurred by giving up the next best alternative while making a ...
Q: How can UNIDO address the negative environmental impact of the semiconductor industry while preventi...
A: Answer -
Q: A perfectly competitive, profit maximizing firm earns zero economic profit in the long run. The firm...
A: Total Cost of the firm : TC=a+bQ2 In the long run,perfectly competitive firm produces quantity at wh...
Q: 20. If there are implicit costs of production
A: Economic profit will be lower than accounting profit if there are implicit production costs. Total r...
Q: Present value of lifetime earnings (1 of 3) Arun, a high-school graduate, is considering whether to ...
A: Since you have posted multiple questions, as per guidelines we can solve only one question per sessi...
Q: 8. If the adult population of a city is 1,000,000 people, and the labor force size is 600,000 people...
A: Given; Adult population= 1,000,000 people Labor force size= 600,000 people Formula to calculate:- La...
Q: What is the advantage of capital gains treatment of income compared to expensing? Explain using nat...
A: Capital gains treatment of income With the exception of profits realised from T-bills, which are not...
Q: The demand for good X is estimated to be Qx d. %3D 10, 000 – 4Px + 5Py + 2M + Ax, where Px is the pr...
A:
Q: The producer is in equilibrium at a point where the cost line is Above the isoquant
A: To find : When producer is in equilibrium at point
Q: 6. Draw a graph of the Dynamic Aggregate Demand Curve and explain it clearly. 8. Draw a graph and ex...
A: Answer (6) AD or aggregate demand is referred to as the amount of total expenditure on domestic goo...
Q: Subject: Engineering Economics Topic: Perpetuity Question: If money is worth 2.55%, determine the pr...
A: Present value is the idea that expresses a measure of cash today is worth more than that equivalent ...
Q: Openness to trade measures A the inverse of the average time needed to comply with customs forms...
A: The openness to trade can be defined as the ratio of the total to the GDP of the country.
Q: Suppose that Romeo in Problem 8 has the utility function U= S6 RS, and Juliet has the utility functi...
A: Given; Romeo's utility function; U=SR6SJ4Juliet's utility function; U=SR4SJ6where;SR=Romeo's spaghet...
Q: Given that marginal propensity to save (MPS) is 0.5, what is the multiplier? 4 5 0.5
A: According to the question, marginal propensity to save i.e. MPS is 0.5. Formula for multiplier is 1M...
Q: Reese has recently left her teaching job to open a bakery. The ______ is an example of the implicit ...
A: The cost incurred is either implicit cost or explicit cost. Explicit cost is the cost which is incur...
Q: Define confidentiality
A: Confidentiality can be a helpful aspect in financial matters or personal matters.
Q: 28. Under which market structure, average revenue of a firm is equal to its marginal revenue A. O Ol...
A: "Correct option is C."
Q: 1. Give ideas/examples that the international community (United Nations) can do to bridge the digita...
A: *Answer:
Q: QUESTION 44 According to the textbook, one likely short-term effect of NAFTA was that many U.S. and ...
A: The NAFTA is the trade agreement between United States, Mexico, and Canada to have a free cross-bord...
Q: A situation where everybody plays a dominant strategy must be a Nash Equilibrium True False
A: "Statement given in question is TRUE."
Q: The preferences of agents A and B are representable by expected utility functions such that uA(x...
A: Pareto efficient allocation is the one from which no player/agent can be made better off without mak...
Q: In an OLG economy, each generation is able to achieve balanced consumption pattern with the help of ...
A: "Correct option is C."
Q: Explain neoclassical theory of distribution.
A:
Q: 200 + 10q + 0.5g", where q is the number of units they produce. What is the shut-down price for this...
A: (1) SRTC = 200 + 10q + 0.5q2 variable cost (VC) is that part of SRTC which depends on quantity (q) =...
Q: 6. We have the production function, Q= f( K,L). Factor prices are r and w respectively and the produ...
A: Here, we have Production function, Q=f(K,L) Rental rate of a unit of capital is given by r which is ...
Q: Suppose that in 2003, 995 workers were employed in the public sector, 691 of which were unionized. A...
A: The correct answer is given in the second step.
Q: In an economy with 200 million people, 150 million hold jobs and 20 million are not working but are ...
A: The unemployment rate is the number of unemployed people divided by the labor force. The formula is,...
Q: In some markets plumbers have a choice of joining unions or working as nonunion plumbers. The total ...
A: WNU=30-0.04LNU∴0.04LNU=30-WNU∴LNU=750-25WNUWU=30-0.1LU∴0.1LU=30-WULU=300-10WU
Q: The manager of the bank where you work tells you that the bank has $100 million in deposits and $22 ...
A: When a company produces a profit at the end of the year, a portion of it is put back into the tradin...
Q: Give ways/ideas that the international community can establish to boost women’s empowerment in decis...
A: Answer -
Q: Define conversation analysis (CA)
A: Define Conversation analysis Conversation analysis (CA) is a method for studying social interactions...
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
- The demand and supply equations for a product are: Qd= 300 – 6P and Qs= -40 + 6P. Determine the market equilibrium and draw graphs. Suppose that the government decides to impose a flat tax of 10% on each unit sold. Show that the price that consumers pay would be the same if the government imposed a tax lof Rs. 1.70 per unit sold. Draw graphs and explain. Also calculate the total revenue earned by sellers before and after the tax, the tax revenue raised by the government, changes in and producers consumer surplus, and deadweight lossSuppose demand and supply of gasoline are given by the following linear functions: Qd = 100 - 20P Qs = 50 + 10P where Q is the quantity in millions of litres and P is the price per litre. Suppose a tax of $1.10 per litre is imposed on gasoline. The deadweight loss equals: O A. $2.13 million O B. $4.03 million OC. $3.33 million O D. $2.70 millionnt ard es ar 14 O 10 5 price 25 50 D Suppose a tax of $9 per unit is imposed on this market. How much will buyers pay per unit after the tax is imposed? $5 Between $5 and $10 Between $10 and $14 $14 quantity
- Suppose the demand for a product is given by P = 30 - 3Q. Also, the supply is given by P = 10 + Q. If a $4 per-unit excise tax is levied on the buyers of a good, the deadweight loss created by this tax will be о $24 O None of these O $4 0 $8 О $16Suppose that the supply and demand for widgets is given by the following equations: QD = 36 – 3P = -12 + 5P What is the price elasticity of supply O a. -1 b. 5 C. 1/3 d. 5/3 QUESTION 2 Suppose that the supply and demand for widgets is given by the following equations: QD = 36 – 3P Qs = -12 + 5P If a tax were imposed on widgets, which of the following would be correct. a. The tax would be split between consumers and producers, but consumers would pay the majority of the tax b. The entire tax would be paid by producers c. The tax would be split between consumers and producers, but producers would pay the majority of the tax d. The entire tax would be paid by consumersO O 198765432 O 10 Suppose that the market is initially at an equilibrium price of $6 and an equilibrium quantity of 40 units in the graph above. If the government decides to add a $2 per-unit tax on this good, the deadweight loss from the tax will be: 10 80 70 S1 O 60 SO Demand 0 10 20 30 40 50 60 70 80 90100
- Figure 6-20 Price 16 30+ 24- 18- 12+ 6+ 80 160 210 240 Supply D₁ 320 Quantity Refer to Figure 6-20. Andrew is a buyer of the good. Taking the tax into account, how much does Andrew effectively pay to acquire one unit of the good? $16 O $18 O $24 O $26The inverse demand function is p = 10q, where q is the number of units sold. The inverse supply function is defined by p = 2 + q. A tax of $2 is imposed on suppliers for each unit that they sell. After the tax is imposed, the equilibrium quantity with taxes is. 0 1 07 O 3 04 09Imagine that the demand curve for beer is given by P=9-Q and supply for beer is given by P=1+Q. What is the deadweight loss associated with a tax of $3 per unit? 12 O 2.25 O None of the above. O 6.25
- Suppose that in a perfectly competitive market, the demand for Frisbees is given by Q=200-2P and the supply by Q=-40+P. Suppose that governmnent imposes $6 tax on sellers. What are the price buyers pay after tax, price sellers receive in net amount after tax and deadweight loss due to tax relative to no intervention, respectively? O $85, $79, $24 $83, $77, $12 $82, $76, $12 $84, $78, $24Figure 6-12 Supply Demand 14 10 25 50 QUANTITY Refer to Figure 6-12. Suppose a tax of $5 per unit is imposed on this market. Which of the following is correct? O a. Sellers will bear more of the burden of the tax than buyers will. O b. Buyers will bear more of the burden of the tax than sellers will. O c Buyers and sellers will share the burden of the tax equally. O d. There is no tax burden.A convenience store owner in Philadelphia was worried that the implementation of the 1.5 cents per ounce tax on sweetened beverages would cause the quantity demanded to fall by so much that he would be in a worse situation if he passed the tax on to customers by raising prices than if he did not raise prices. If raising the price of sweetened beverages would cause the owner to receive less total revenue from the sale of sweetened beverages, the demand for sweetened beverages is O A. inelastic. O B. unit elastic. OC. perfectly inelastic. D. elastic.