A lump-some tax is the most fair because everyone pays the same percentage of taxes.
Answer:
public relations
Explanation:
Public relations refers to the process of building relations among the public and the organization. It focuses on constructing relations in the interest of the public by informing them about the new schemes and improvement of the company. It provides the individual to gain exposure and to earn experiences about the public. These relations ignites the sale of the organization and helps in its publicity too.
Answer: See explanation
Explanation:
From the question,
Qd = 100 – 2P
We have to use the subject of the formula to get the expression for Price(P). This will be
2P = 100 - Qd
P= (100 - Qd) /2
P = 50 - 0.5Q
Also, C(Q) = 10Q
MC = 10
Since P = MC
50 - 0.5Q = 10
Collect like terms.
50 - 10 = 0.5Q
0.5Q = 40
Q = 40/0.5
Q = 80
Recall that,
P = 50 - 0.5Q
= 50 - 0.5(80)
= 50 - 40
= 10
The profit will be calculated as:
= TR - TC
where,
Total revenue = Price × Quantity
= 80 × 10 = 800
Total cost = 10Q = 10 × 80 = 800
Profit = 800 - 800 = 0
Answer:
d. In perfect price discrimination, the firm is able to convert the entire area of consumer surplus that existed under perfect competition into producer surplus.
Explanation:
Perfect price discrimination occurs when the firm charge the <em>maximum price</em> that consumer is willing to pay <em>for every unit sold</em>.
(That price is given by the demand curve)
They will produce where the lowest price they can charge is equal to their marginal cost (marginal cost = marginal revenue), in other words where Supply curve meet Demand curve, ie. free market equilibrium (so no deadweight loss).
Their revenue will be a + b + c. That includes a, the entire consumer surplus under perfect competition.