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Question - After economic class one day, your friend suggests that taxing tobacco would be a good way to raise revenue. In what sense is taxing tobacco a "good" way to raise revenue? In what sense is it not a "good" way to raise revenue?
Microeconomics, Economics
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Question: Using a supply-and-demand graph and assuming competitive markets, show and explain the effect on equilibrium price and quantity of the following: A technological change that reduces the cost of producing X-rays ...
Question: Suppose you want to hasten the transition from a depletable fossil fuel to solar energy. Using graphs in your explanation, compare the effects of a per unit tax on the depletable resource to an equivalent per u ...
Question: The marginal utility of the last unit of apples consumed is 12 and the marginal utility of the last unit of bananas consumed is 8. What set of prices for apples and bananas, respectively, would be consistent wi ...
Question: One of the most fact-filled publications you can buy is the Daily Racing Form. 72 For every horse running that day it contains about 30 facts about each of its last ten races, including the name of the jockey, ...
a) In 1994, the marginal cost of producing the Power Mac was about $1,500 per unit, and a rough estimate of the monthly demand curve was: P = 4,500 - .15Q. At the time, what was Apple's optimal output and pricing policy? ...
Question: What are the assumptions of the Monopolistic Competition Model? Even if there exist same number of consumers, same technology and cost curves and the same number of firms in the no-trade equilibrium both at HOM ...
Question: In 2001 and 2002, political opinion was bitterly divided between the Republicans, who wanted to cut high marginal personal income tax rates and offer retroactive benefits to corporations by canceling the altern ...
Question: There are three consumers A, B and C. Consumer A is willing to pay 40-.25F dollars for a unit of flowers for the public square, B is willing to pay 75-.25F dollars for a unit of flowers, and C is willing to pay ...
Question - We know that the AS curve is p = p e + 0.5(Y - Y * ) that is ?(how inflation responds to output gap) = 0.5, (price shock) = 0. Moreover we know: • expected inflation = p e = 4.5 • potential output = Y * = 7 tr ...
Question: In the United Kingdom and several other countries, the loser of the case pays the winner's legal fees. Do you expect to see plaintiffs' attorneys operating under contingency arrangements in these countries? Why ...
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