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Returning to question 2, suppose the government put a tax on soda of $.50 per can to be paid by consumers. Graph the before and after tax supply and demand curve. What is the new ewuilibrium price and quantity?
Business Economics, Economics
Lucinda buys a new gaming system for? $500. She receives consumer surplus of? $175 from the purchase. How much does Lucinda value her GPS? system?
Some farm land is more productive than other land in the sense that it can grow more food per hectare. Farmers also use fertilizer to grow food (i.e. adding fertilizer increases crop yield by 10 percent) earn more revenu ...
An insurance company will pay Dave $220,000 (the market value of the house) should his house be destroyed by fire during the year. In return, Dave pays the insurance company $1280 that year (called the "premium") for tha ...
Cheeseburger and Taco company purchases 16,935 boxes of cheese each year. It costs $27 to place and ship each order and $8.17 per year for each box held as inventory. The company is using Economic Order Quantity model in ...
Based on a? poll, 60?% of Internet users are more careful about personal information when using a public? Wi-Fi hotspot. What is the probability that among four randomly selected Internet? users, at least one is more car ...
A highway rest area contains a vending machine that dispenses cups of coffee. The amount of coffee that the machine provides when a purchase is made approximately follows a uniform distribution between 200 and 250 ml. (a ...
It was reported that 72 % of Americans don't exercise at least 30 minutes each day. If three people are selected at random, find the probability that all three will say that they don't exercise at least 30 minutes each d ...
The mean height of women in a country? (ages 20-?29) is 63.5 inches. A random sample of 65 women in this age group is selected. What is the probability that the mean height for the sample is greater than 64 ?inches? Assu ...
Liquidity Ratios Burt's TVs has current liabilities of $25.8 million. Cash makes up 48 percent of the current assets and accounts receivable makes up another 28 percent of current assets. Burt's current ratio = .93 times ...
The demand for salt is relatively price inelastic, while the demand for pretzels is relatively price elastic. How can you best explain why and elaborate your answer.
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