FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please solve why the answer is 90. QUES'iO 11 A firm operates in a market with perfect competition and no government influence. The Incorrect price

image text in transcribed

Please solve why the answer is 90.

image text in transcribed
QUES'iO\" 11 A firm operates in a market with perfect competition and no government influence. The Incorrect price of the good is 20. The firm has total costs Mark 0.0 out of 1 0 1 2 V Remove fiag Then one day the government introduces a production tax of 8 (per item sold}. As a result, the price increases to 22. By how much does the profit of the firm drop (write in unsigned absolute value, for instance 5, not 5 nor 40%) ? Answer: 25 x The correct answer is: 90

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

blur-text-image

Step: 3

blur-text-image

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

Economics

Economics

Authors: R. Glenn Hubbard, Anthony Patrick O Brien

7th edition

134738314, 9780134738116 , 978-0134738321

More Books

Students also viewed these Economics questions

Question

★★★★★
Use the Numerov method to find the lowest four energy eigenvalues for a one-particle system with V = for x 0 and V = bx for x > 0, where b is a positive constant. (For b = mg, this is a particle in...

Answered: 1 week ago

Question

★★★★★
Describe, in step-by-step form, the procedure that the operating system would use to switch from one user to another in a multi-user time sharing system.

Answered: 1 week ago

Question

★★★★★
How much influence do others expressed perceptions of an event have on an individuals perception of the same event?

Answered: 1 week ago

Question

★★★★★
Selected accounts from the adjusted trial balance of Daniel's Sports Equipment on September 30, 2010, the fiscal year end. The company's beginning merchandise inventory was $81,222 and ending...

Answered: 1 week ago

Question

★★★★★
Manuel Company predicts it will operate at 80% of its productive capacity. Its overhead allocation base is DLH and its standard amount per allocation base is 0.5 DLH per unit. The company reports the...

Answered: 1 week ago

Question

★★★★★
As a high school teacher, Julie has always felt that her students are lazy, don't really want to be in school, and are v O A OX O B O Y

Answered: 1 week ago

Question

★★★★★
Telework triggered by COVID-19 revealed that while worker productivity increased, anxiety and mental health declined. What is this issue important to organizational effectiveness and worker...

Answered: 1 week ago

Question

★★★★★
Provide example for a Short Term Rental Arbitrage organization filling out the below sections: Industry Background provide industry background here. This is where you include information like the...

Answered: 1 week ago

Question

★★★★★
The IS Strategy Triangle links business strategy with organizational and information strategy suggesting that all three points must be in balance to have an efficient organization. As a manager, you...

Answered: 1 week ago

Question

★★★★★
As you saw in the videos (and perhaps in the code that you wrote for this activity), there are many different ways to work with files. You can put a file in a for-loop and read one line at a time. Or...

Answered: 1 week ago

Question

★★★★★
A company using the varying workforce strategy to meet exact demand is preparing an aggregate production plan for the next four (4) months. The number of the workforce currently employed is 20...

Answered: 1 week ago

Question

★★★★★
Explain why the mass of the vehicle does not affect the calculated maximum or minimum velocities for cars on banked curves.

Answered: 1 week ago

Question

★★★★★
The work role: This consists of service to others at your workplace.

Answered: 1 week ago

Question

★★★★★
The role of society: This consists of service to the local community, society and nature.

Answered: 1 week ago

Question

★★★★★
13. Think about a relationship conflict you have had in your workplace or home situation. Try to interpret the conflict from the following logical levels: a. Purpose b. Role c. Values d. Competence...

Answered: 1 week ago

Previous Question Next Question