Answer:
There is no change in consumers' or producers' well being
Explanation:
Currently consumers of vodka were levied tax of $2. However, government decided to provide tax relief to consumers and shift the burden on producer. There will be no change in the well being of consumers and producers.
Tax is a cost that shifts demand curve if consumers pay tax. Supply curve shifts if producers pay tax. The overall effect, however remains the same. If producers pay tax, cost per unit vodka will increase which will be reflected increased prices. Similarly, if consumers pay tax, they will demand lesser. so there is no change overall.
Answer:
Housing - $1080
Transportation $720
Food - $ 540
Insurance- $252
Savings- $360
Other - $648
Explanation:
The total money earned by both Barry and Cheri is $3,500 + $ 100 = $3600
Housing 30% ____0.3 * 3600_____ = 1080
Transportation 20% ___0.2 * 3600______= 720
Food 15% _____0.15 * 3600____= 540
Insurance 07% ___0.07* 3600______= 252
Savings 10% ___0.1* 3600______= 360
Other 18% ____0.18 * 3600_____ = 648
Answer:
I agree
Explanation:
I don't really see that there's a question being asked.
Answer:
Utopolis
a. Social states chosen by the government of Utopolis are:
Social State Unemployed Workers Retirees
A 12 50 10
D 1 40 1
The reason for choosing these social states is that the social states of A and D reduce the headache felt by the government in managing unemployment and paying pensions to retirees, unlike the social states of B and C, which have equal numbers of the distinct subpopulations.
b. The enacted social state will be D. This is the social state preferred by the majority of citizens. There is a utopian economic condition achieved with social state D unlike with other social states.
Explanation:
a) Data and Calculations:
Utility levels in Utopolis:
Social State Unemployed Workers Retirees
A 12 50 10
B 20 20 20
C 15 15 15
D 1 40 1
