Answer:
MC = $17
P = $25.5
Explanation:
We proceed as follows;
Firstly calculate MC when e = -2, where MR = MC
(P-MC) / P = 1 / IeI
Here P = $34 and e = -2
(34 - MC) / 34= 1/ I-2I
(34 - MC) / 34= 1 / 2
78-2MC = 34
2MC = 34
MC = 34/2
MC = 17
Now, as we have MC, we will calculate the new price when e = -3
(P-MC) / P = 1 / IeI
(P - 17) / P = 1 / I-3I
(P - 17) / P = 1 / 3
3P -51 = P
2P = 51
P = 51/2
P = 25.5
mr. josh kenney, a u.s. citizen and resident of vermont, owns 100 percent of the stock of jk services, which is incorporated under vermont law and conducts business in four counties in the state.
There are three taxpayers identified in the given situation and these are as follows:
Mr. Josh Kenny
JK Services
JK Realty
Governments with jurisdiction in the given case are as follows:
Mr. Josh Kenny falls under the State of Vermont where he is a resident and
JK Services falls under the State of Vermont where it is incorporated and operates and
JK Realty falls under the City of Boston where it is operates.
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Answer:
B. decreases the equilibrium quantity of land below the efficient level and creates a deadweight loss
Explanation:
An efficient economy is one whose equilibrium between supply and demand for land is due to endogenous factors via price. Under the law of supply and demand, price will be the adjustment vector that will balance the land market.
When the government introduces a tax, the price parameter changes, introducing an inefficiency called deadweight. Deadweight is a term widely used in economics to designate efficiency losses in markets when a tax is introduced. Thus, the economy will move from its natural equilibrium to a new artificial equilibrium, where the amount traded will be smaller than before.
<span>The term supply chain refers to the somewhat extensive process and means needed in transferring or transporting a product from the supplier to the customer. Supply chain uses both physical and information flows to achieve this end result. The three components of a physical flow of a supply chain are the transformation, movement, and storage of materials.</span>
