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vodka [1.7K]
3 years ago
14

You have been hired as an economic consultant to the mayor. he is considering putting a tax on several products. you are worried

about the impact of deadweight loss on the market for these products. you tell the mayor that the deadweight loss will be lower when
Business
1 answer:
Fittoniya [83]3 years ago
4 0

Answer: b) Supply is inelastic and demand is inelastic.

Explanation: Dead-weight loss is the loss in total surplus when a tax is imposed on a good which restricts demand and supply from balancing. When both the demand and the supply curves are inelastic, the effect of a tax will be lead to a small change in the quantity being traded in the market. Thus, the equilibrium quantity at the taxed price will not fall much and the dead weight loss will therefore, be smaller.

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Economan has been infected by the free enterprise bug. He sets up a firm on extraterrestrial affairs. The rent of the building i
monitta

Answer:

There are two types of profit and costs in nay business, which are accounting costs/profit and the economic costs/profits.

Accounting costs include everything that is tangible or the monetary costs a firm pays, while the economic costs include the cost which is intangible(Opportunity costs) as well as tangible.

Here in this question, the profit of the firm therefore is,

a. From an accountant;s definition = 130000-(6000+42000+7000) = 75000.

b. From an economist's definition = 130000-(6000+42000+7000+65000+6000) = 4000.

Hope this helps you. Thankyou.

7 0
2 years ago
Read 2 more answers
Suppose that the equilibrium price of greeting cards declined at the same time the equilibrium quantity of greeting cards increa
lorasvet [3.4K]

Answer:

The answer is: A) A decrease in the price of paper used to make greeting cards.

Explanation:

In normal market conditions, an increase in the equilibrium quantity of greeting cards means that the quantity demanded and the quantity supplied of greetings cards increased. Usually an increase in the quantity supplied will result in an increase of the price of the good or service. But on this specific case something else made the price of the cards decrease. The only one of the four possible options that can explain an external cause for a decrease in the price of greetings cards, is a decrease in the price of paper used to manufacture them.  

3 0
3 years ago
Cross-elasticity of demand is: a.the willingness to substitute other products. b.a factor in determining resale price maintenanc
erik [133]

Cross-elasticity of demand is a) the willingness to substitute other products.

If the goods are alternative products, the cross elasticity of demand is tremendous which means that demand for one product will increase when the charge of the alternative product will increase and vice versa

If the products are complementary, go elasticity of demand is terrible which means that once the fee of 1 product will increase, demand for the opposite product decreases and vice versa.

The go-rate elasticity formulation is an equation for calculating the pass-price elasticity of call for (XED) of separate services or products: go rate elasticity (XED) = (% change in call for of product A) / (% alternate of fee of product B), wherein merchandise A and B are exceptional services.

In economics, the pass elasticity of call for or go-price elasticity of demand measures the percentage change of the quantity demanded an awesome to the percentage change in the fee of another proper, ceteris paribus.

The cross elasticity of call for is an economic concept that measures the responsiveness in the amount demanded of one good while the fee for some other correct modifications.

Learn more about Cross-elasticity here brainly.com/question/22985521

#SPJ4

3 0
2 years ago
Which is not a key component of the General Agreement on Tariffs and Trade (GATT)?
AlekseyPX

Answer:

the answer is C

Explanation:

5 0
3 years ago
Read 2 more answers
Which type of organization means that there are few or no levels of managers in between the top people who run the company and t
forsale [732]
The type of organization is "flat organization".
Other names that are used for the flat organization are:
<span>horizontal </span>organization<span> or delayering organization.
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The structure of flat organization alludes to having a generally modest number of layers in your organization's authoritative graph. This is because of a generally higher traverse of control and moderately less layers of administration.
5 0
3 years ago
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