Choose answer: Antonio offers economic tutorials. It has an opportunity cost of $ 50 per session and charges $ 60. It has two students: Roberto, who has a payment of $ 70 and Carlos, who has a payment of $ 90. When the government applies a $ 20 tax to the guardians and Antonio increases its price to $ 80, the government's collection is
$ 10
$ 20
$ 30
$ 40
$20
Explanation: When the charge per session increases to $80, only Carlos will take the session as his payment is $90 (higher than the cost per session) and Roberto will leave the session as the cost of the session is higher than his payment. So, for 1 student government can collect only $20 tax.
Choose answer: Antonio offers economic tutorials. It has an opportunity cost of $ 50 per session...
12. Aiden gives piano lessons. He has an opportunity cost of $50 per lesson and charges $60. He has two stu- dents: Brandon, who has a willingness to pay of $70, and Chloe, who has a willingness to pay of $90. When the government puts a $20 tax on piano lessons and Aiden raises his price to $80, the deadweight loss is and the tax revenue is a. $10, $20 b. $10, $40 C. $20, $20 d. $20, $40
Q1. Sarah has decided to spend always $200 on clothing
per month. Which one of the statements below is true?
A. Sarah’s price elasticity of demand is one because she is
maintaining her clothing expenditures as a constant fraction of the
price.
B. Sarah’s income elasticity of demand is equal to zero because her
clothing expenditure does not depend on the price.
C. Sarah’s income elasticity of demand is infinite because she is
willing to spend a huge amount of...
The Economist article “Indonesias economic growth is being held back by populism,” (see below) highlights a number of features of Indonesias economic growth potential (as of January, 2019). After reading the article, evaluate the quality of Indonesia’s policy environment. Specifically, consider which aspects of Indonesia’s policy and demographic setting are conducive to economic growth and which are inhibiting economic growth? Begin with a brief summary of the requirements for economic growth that are explained in Modules 20 and 22. When...
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Chapter overview 1. Reasons for international trade Resources reasons Economic reasons Other reasons 2. Difference between international trade and domestic trade More complex context More difficult and risky Higher management skills required 3. Basic concept s relating to international trade Visible trade & invisible trade Favorable trade & unfavorable trade General trade system & special trade system Volume of international trade & quantum of international trade Commodity composition of international trade Geographical composition of international trade Degree / ratio of...
Please answer question 1,2,3 in details and explanation
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