Instructions: Enter your answers as a whole number. If you are entering any negative numbers be sure to include a negative sign (in front of those numbers b. The equilibrium price is $ and the equilibrium quantity is 600 c. Suppose the government imposes a $15 per unit tax on sellers of this good. Instructions: Use the tool provided Sy' to draw the new supply curve on the diagram above. Plot this for quantities 20, 60, 100, 140. and 180 (5 points total) d. The new equilibrium quantity is 40 Consumers will pay $ 30 After the tax, sellers will receive $600 e. Using the midpoint formula, the price elasticity of demand over this price change is: tif demand were less elastic (holding supply constant), the deadweight loss would be [smaler

Instructions: Enter your answers as a whole number. If you are entering any negative numbers be sure to include a negative sign (in front of those numbers b. The equilibrium price is $ and the equilibrium quantity is 600 c. Suppose the government imposes a $15 per unit tax on sellers of this good. Instructions: Use the tool provided Sy' to draw the new supply curve on the diagram above. Plot this for quantities 20, 60, 100, 140. and 180 (5 points total) d. The new equilibrium quantity is 40 Consumers will pay $ 30 After the tax, sellers will receive $600 e. Using the midpoint formula, the price elasticity of demand over this price change is: tif demand were less elastic (holding supply constant), the deadweight loss would be [smaler

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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If the details of the quantity to be produced for a period are as follows, how many units are produced? The opening inventory is 160 units; units sold are estimated to be 200 units; the desired closing stock is 100 units. a. 200 units b. 260 units c. 460 units d. 140 units
BVM manufactured and sold 25,000 small statues this past year. At that volume, the firm was exactly in a breakeven situation in terms of profitability. BVM’s unit costs are expected to increase by 30% next year. What additional information is needed to determine how much the production volume/sales would have to increase next year to just break even in terms of profitability? (a) Costs per unit (b) Sales price per unit and costs per unit (c) Total fixed costs, sales price per unit, and costs per unit (d) No data is needed, the volume increase is 25, 000 + 25, 000(0.30) = 32, 500 units.
An action is not fraud unless (a) it involves a loss of value that exceeds $100 (b) it is done to obtain property to which the perpetrators is not entitled (c) the perpetrator is apprehended (d) it involves interstate business (e) none of the above