Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jul 10, 2024

Hi can you explain If there is no tax on coffee, what is the price and how much coffee is consumed? The demand and supply

Hi can you explain If there is no tax on coffee, what is the price and how much coffee is consumed?

The demand and supply schedule for coffee are: Price ($ Quantity Quantity per cup) Demanded Supplied 130 10 $2 110 20 $3 90 30 $4 70 40 $5 50 50 $6 30 60 $7 10 70 $8 0 80

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Granularity Theory With Applications To Finance And Insurance

Authors: Patrick Gagliardini, Christian Gourieroux, Christian Gouriéroux

1st Edition

1316057135, 9781316057131

More Books

Students also viewed these Economics questions

Question

★★★★★

Determine the total cost for this plan given the following forecast: Use steady regular output of 400 units per month, use overtime as needed for up to 40 units per month, and use subcontracting to...

Answered: 1 week ago

Question

★★★★★

If the power series f(x) = c k x k has an interval of convergence of |x| Answered: 1 week ago

Answered: 1 week ago

Question

★★★★★

=+14. DVD production. Plastic covers for DVDs must be manufactured with enough precision so that a DVD can properly fit into the cover. Specifically, the diameter of the central plastic piece over...

Answered: 1 week ago

Question

★★★★★

Morning Star Ltd was registered on 1 July 2020, as a company with a constitution limiting the shares that could be offered to 5 000 000 Ordinary shares (including all classes) and 2 000 000preference...

Answered: 1 week ago

Question

★★★★★

Irwin, Inc., constructed a machine at a total cost of $25 million. Construction was completed at the end of 2014 and the machine was placed in service at the beginning of 2015. The machine was being...

Answered: 1 week ago

Question

★★★★★

The Variance of the Winner Score is: Use 3decimal places for your answer, and use the proper rules ofrounding.The Variance of the Loser Score is: Use 3decimal places for your answer, and use the p 1...

Answered: 1 week ago

Question

★★★★★

Data given: Country A: n:1000 , X mean: 19.900, S2:5000, S:70.71 Country B: n:1500 , X mean: 20.200, S2:6400, S:80 (a) Consider whether the hypothesis that the average family income of country A is...

Answered: 1 week ago

Question

★★★★★

Enter the following trial balance into the chart of accounts: Account DR CR Cash 25,000 Vehicle net 74,000 Equipment net 7,500 Loan 50,000 Enter the following journal entries: sales of services for...

Answered: 1 week ago

Question

★★★★★

Rita is a trader. She provided the following information on 31 July 202: $ Inventory ........................................................... ...

Answered: 1 week ago

Question

★★★★★

(2) Visualize the union of a box and a cylinder, report formulation and results. Each side of the box has the length of 1 along x, y, and z-direction and its center is at (0,0,0). The center axis of...

Answered: 1 week ago

Question

★★★★★

2) A bucket that weights 70lb when filled with water is lifted at a constant rate, by a mechanical winch, from the bottom of a well that is 60 feet deep. a) Compute the work required to lift the...

Answered: 1 week ago

Question

★★★★★

What literature and information sources are available to you (physically and electronically) from: your study centre; your place of work; any professional institutions of which you or your...

Answered: 1 week ago

Question

★★★★★

How familiar are you with HR related internet gateways and other search engines?

Answered: 1 week ago

Question

★★★★★

Which academic journals are you already familiar with and which do you find the most challenging to analyse?

Answered: 1 week ago

Previous Question Next Question