ECON: MICRO4 (New, Engaging Titles from 4LTR Press)
ECON: MICRO4 (New, Engaging Titles from 4LTR Press)
4th Edition
ISBN: 9781285423548
Author: William A. McEachern
Publisher: Cengage Learning
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Chapter 5, Problem 1.3PA

(Categories of Price Elasticity of Demand) For each of the following absolute values of price elasticity of demand, indicate whether demand is elastic, inelastic, perfectly elastic, perfectly inelastic, or unit elastic. In addition, determine what would happen to total revenue if a firm raised its price in each elasticity range identified.

Absolut Value Elasticity Effect of Price Increase
a Chapter 5, Problem 1.3PA, (Categories of Price Elasticity of Demand) For each of the following absolute values of price , example  1
b Chapter 5, Problem 1.3PA, (Categories of Price Elasticity of Demand) For each of the following absolute values of price , example  2
c Chapter 5, Problem 1.3PA, (Categories of Price Elasticity of Demand) For each of the following absolute values of price , example  3
d Chapter 5, Problem 1.3PA, (Categories of Price Elasticity of Demand) For each of the following absolute values of price , example  4

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Discuss the preferred deterrent method employed by the Zambian government to combat tax evasion, monetary fines. As noted in the reading the potential penalty for corporate tax evasion is a fine of 52.5% of the amount evaded plus interest assessed at 5% annually along with a possibility of jail time. In general, monetary fines as a deterrent are preferred to blacklisting of company directors, revoking business operation licenses, or calling for prison sentences. Do you agree with this preference? Should companies that are guilty of tax evasion face something more severe than a monetary fine? Something less severe? Should the fine and interest amount be set at a different rate? If so at why? Provide support and rationale for your responses.
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Price Elasticity of Supply; Author: Economics Online;https://www.youtube.com/watch?v=4bDIm3j-7is;License: Standard youtube license