Answer:
(B)
Explanation:
The price paid by buyers will not change, and the price received by sellers will not change because;
First,
Buyers paid 4$ tax before, later government removes or substracts -$4 tax away causing tax on meal purchased by buyers = $0.
Second,
Prior to removal of the tax on buyers of meals, sellers would have likely included this cost $4 into their cost of meals to buyers.
Now buyers are not imposed tax but the sellers are. Sellers would include this cost into the cost of meals, which is then transferred to buyers.
The equation would look this way;
Cost +$4 tax - $4 tax= + $4
The same cost would apply.
Answer:
8392848283738281818837372829391000°288223627281
Explanation:
28383838291837456
Answer:
c. be lower since the price is lower and equilibrium moves down along the supply curve.
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Answer:
The first reason why people are willing to pay so much less or lower than the expected value is due to the uncertainty of flipping a heads. Heads may never be flipped.
The Second reason they are willing to pay so much less or lower is because the expected value will rarely reach over $10 because player would have to make it to the 5th flip in order to recoup their investment in which most of the players are unwilling and ready to take that risk.
Explanation:
Saint Petersburg Gambles
The first reason why people are willing to pay so much less or lower than the expected value is due to the uncertainty of flipping a heads. Heads may never be flipped.
The Second reason they are willing to pay so much less or lower is because the expected value will rarely reach over $10 because player would have to make it to the 5th flip in order to recoup their investment in which most of the players are unwilling and ready to take that risk.
