Home / Questions / Please, try to illustrate your answer using graphs and figures 1. Plot a graph of a deman
Please, try to illustrate your answer using graphs and figures
1. Plot a graph of a demand curve of a normal good. Plot also a price level into your graph. Define and show on your graph the consumer surplus. Now imagine, that the price of this product decreases. How will the consumer surplus change in this case? Why? (4 points)
2. In order to decrease the pollution from air travel, the government decides to tax every passenger with a 50 Euro specific tax, per passenger, and per journey. Consider the supply of air travel as elastic, and the demand as inelastic. Based on this, please, decide, if the following statements are true or false. Please, justify your answer. (Each correct answer 3 points)
a) The government should tax the suppliers of this market, because if they have to pay, they will bear the burden of the tax.
b) Because of the elasticities of demand and supply, the tax incidence falls more on the consumers.
3a. Venice is a one of the most popular tourist destination of the world. Until recently tourist could reach Venice by car, bus, airplane, ships and ferries and trains. What kind of good was the city at that time? Think about excludability and rivalry. Explain. (3 points)
3b. The city of Venice introduced an entrance fee to the city, that must be paid by each tourist while entering the city. How does this change your answer to problem 3a? Why? (3 points)
4. At Ao Nang Beach there are more than a dozen of firms offering one day speed boat excursions to Phi-Phi Islands. The firms offer approximately the same programme, and there are some small differences in their prices, they charge (1400 – 1800 baht per person). Based on this information, what do you think, what is the structure of this market (monopoly, oligopoly, monolpolistic competition, perfect competition)? Please, justify your answer. (4 points)
Dec 05 2019 Read more Less More
Determine the influence lines for the shear and bending moments for the points of interest (POI) labeled. Instructor to assign structures and POIs.2 Qualitatively (withou...
May 10 2020Peanut Company acquired 100 percent of Snoopy Company’s outstanding common stock for $300,000 on January 1, 20X8, when the book value of Snoopy’s net assets was equal to ...
Apr 18 2020(Fai r V alue Addison Manufacturing holds a large portfolio of debt and equity securities as an investment. The fair value of the portfolio is greater than its original c...
Jun 18 2020Differentiate the following terms/concepts:a. Good company and good stockb. Momentum-chaser and contrarianc. International diversification and domestic diversificationd. ...
May 13 2020A simple random sample of 40 accounts is taken from an account receivables portfolio of ABC Ltd and the average account balance is $750. The population standard deviati...
Apr 06 2020On January 1, 2019, Sharon Matthews established Tri-City Realty, which completed the following transactions during the month:Sharon Matthews transferred cash from a perso...
May 03 2020ou are required to do a case study on a commercial low rise construction building. The building you select may be a bulky goods/warehouse type building. You will identify...
Jul 06 2020Marsh and Root Construction have won the contract to widen and resurface a section of road. The site manager has identified the following tasks together with the tasks th...
Jul 23 2020Clooney Company rents a warehouse on a month-to month basis for the storage of its excess inventory. The company periodically must rent space when its production greatly ...
Mar 31 2020To take advantage of an arbitrage opportunity an investor would construct a zeroinvestment portfolio that will yield a sure profit construct a zerobetainvestment portfol...
Feb 15 2020Welcome to MyCourseHelp Services, World's leading Academic solutions provider with Millions of Happy Students.