Why do so few countries impose high tax rates on wealthy people and luury goods?

Q: P&G sold its prescription drug business to Warner Chilcott, Ltd., for $3.1 thousand millions. If…

A: P&G sold his business for 3.1 thousand million Revenue from sales = 2billion Net Profit = 20% of…

Q: Identify which curve on the previous graph corresponds to each of the following descriptions. If the…

A: In short run, economy is in equilibrium when aggregate demand and short run aggregate supply are…

Q: How does a tax on interest income influence the economic growth rate? A tax on interest income…

A: Income tax has no impact on the demand for labor, but the supply of labor does change. The gap…

Q: 1. In 2022 the Finnish GDP is estimated to grow by 1,7 %. If it was 253 billion euros in 2021, how…

A: Since you have posted multiple questions, and all three belong to a different subject, so as per the…

Q: Do the following industries more closely resemble a Monopolistic Competition market and / or an…

A: The method used by businesses to set their products apart from those sold by rivals is called…

Q: According to the vacancy supply condition, market tightness increases with:

A: Vacancy Supply Condition is defined as a condition where the vacancy curve tends to move upwards…

Q: A young engineer is considering establishing his own company. An investment pfP500,000 will be…

A: The yearly rate of return is the % change in the value of an investment. For instance: If you assume…

Q: 6. Consider an economy of three-period-lived people in overlapping gener- ations. Each individual is…

A: 3 period overlapping model refers to that population lives for the 3 periods The first period---…

Q: Answer True, False or Uncertain. Brieáy explain your answer The rate of return equality is…

A: Rate or return or RoR refers to the net profit or loss from any investment for a particular period…

Q: The table below shows cost data for producing different amounts of cough syrup. Use the given…

A: Total cost is the sum of fixed cost and variable cost  Fixed cost remain fixed for all level of…

Q: Exercise 3. Suppose a game has an exact potential o. Show that is an exact potential for the game if…

A: Let us fix z∈S. For all s∈S define,H(s) =∑i=1nui(ai-1) - ui(ai) Where, a0=s and for every 1≤i≤n,…

Q: Which of the following is a fixed cost of production? rent for a storefront grapes used to produce…

A: Fixed cost of production: Fixed costs are that part of the production which is independent of the…

Q: Scott has a Hotdog stand in downtown Portland. He wants to increase his total revenue. He knows…

A: 1. Initial price of hotdogs : P1=$1.25 Initial quantity demanded of hotdogs : Q1=20 units New price…

Q: Use the body temperatures, in degrees Fahrenheit, listed in the accompanying table. The range of the…

A: 99 98.7 99 97.8 98.5 97.6 99.1 98.5 98.3 98.2 96.7 97.1 97.9 98.3 97.7…

Q: Chapter 6: Rational Choice under Risk & Uncertainty Behavioral & Experimental Econ 2) Suppose you…

A: You have posted multiple-part questions and as per Bartleby policy, only the first three parts are…

Q: 9. The Shellfish Shack produces only shrimp and oysters. The table below shows the maximum possible…

A: Opportunity cost is the cost of producing one good in terms of other.  Opportunity cost shows the…

Q: A company is planning to manufacture snowboards. The fixed costs are $400 per day and total costs…

A: Given that, Fixed costs are $400 Daily output is 20 boards The total cost is $5400 Total cost =…

Q: 3. John thinks that four 0.5kg bags of flour are exactly as good as one 2kg bag of flour. John has…

A: Budget constraint: given the price of 2 goods and consumer’s income. The budget constraint shows…

Q: Define Supply and Demand Give examples supply and demand regarding the oil prices in the US.

A: Supply definition - Supply refers to the quantity of a particular goods or service that suppliers…

Q: A person has wealth of $500,000. In case of a flood her wealth will be reduced to $50,000. The…

A: Given information: Wealth (W) = $500,000 Incase of flood W goes down by $50,000 (L) Probability of…

Q: 5 months ago, Hannah moves into New Oaks Village to live with her sister. The residents of New Oaks…

A: Free rider problem:  Free rider problem arises in case of public goods which have non rivalrous (it…

Q: Use PMT= to determine the regular payment amount, rounded to the nearest dollar. The price of a…

A: The liability utilised to finance the need for funds is called a borrowing. The borrower is required…

Q: A firm is producing 1,000 units at a total cost of $5,000. If it were to increase production to…

A: Introduction: Marginal cost: the marginal cost refers to the additional cost that is used to produce…

Q: a. Does any country have absolute advantage in the production of the goods? b. Does any country have…

A: Absolute advantage and comparative advantages are the two widely used terms in Internation Trade.…

Q: Using the following graph, an increase in output from 120 units to 160 units would $24 $22 $20 $18…

A: Socially efficient outcome is where the demand curve intersects the social cost curve.  Social cost…

Q: Synergy Co. and Durham Co. are the only two firms in the TVs market. The 2 firms can collude and…

A: There are two firms in the above Game - Synergy Co. & Durham Co. Strategy Set of Firm 1 =…

Q: The above graph shows some isoprofit lines. Use the above graph to show how L* would change if…

A: Isoprofit Curves are defined as curves that consist of amounts of labor and its output which gives…

Q: Pls help with thsi question   Consider an Individual who buys films (F) and books (B) with the…

A: Budget constraint: given the price of 2 goods and consumer’s income. The budget constraint shows…

Q: Down payment Annual payments Years Discount rate plan A 1.297.19 5.342.38 20 12% What is the present…

A: Here we are given the annuity, we will fid the present  value of annuity using the present value of…

Q: Weak sustainability requires the maintenance of specific components of natural capital O natural…

A: Sustainability means use of available natural resources in most judicious manner so that sufficient…

Q: Why CRS - Constant Returns on Scale would generate (1) No profit-maximizing production plan; the…

A: The constant returns to scale refers to the economic condition where the inputs for a company,…

Q: Determine whether the scenarios below lead to economies, diseconomies of scale or neither: A.…

A: Economics matters in the investigation of shortage and its suggestions for the utilization of…

Q: When playing roulette at a casino, a gambler is trying to decide whether to bet $10 on the number 30…

A: The probability for net profit of 30 is 3/38 The probability for lossing of 10 is 35/38

Q: If at current prices, the demand for a good is price elastic, then by increasing quantity sold,…

A: The price elasticity of demand measures the quantitative relationship between the price and quantity…

Q: Assume that Donnell Corp. is currently producing 500 units of output per period, using 25 units of…

A: Production function is the technological relationship between input and output. Firm's objective is…

Q: Which of the following is a challenge of government setting a price floor? A risk of excess supply…

A: In order to protect citizens' interests in the market, the government imposes price controls. With…

Q: n Paynia  the marginal propensity to consume is .6.  Times are tough and the economy is operating on…

A: Aggregate demand is the sum of consumption, investment, government spending, and net exports.  There…

Q: What happens to average product (AP) when marginal product (MP) is less than AP? AP rises O O AP…

A: Average product is the total product divided by the input unit (labor).  So, AP = TP/L .

Q: can you please explain part c in more details

A: Government intervention is the policy of the government under which it controls the private sectors…

Q: In the graph you've just made, how does a tax on interest income influence the real interest rate…

A: Equilibrium in the loanable funds market occurs at the intersection of demand and supply curves.

Q: In a society with 240,000 households, 10,000 households earn $4 each, 4,000 households earn $2 each,…

A: Here we are given the income distribution data. First we will arrange that in a right order and…

Q: 6. Consider an economy of three-period-lived people in overlapping gener- ations. Each individual is…

A: 3 period overlapping model refers to that population lives for the 3 periods The first period---…

Q: how much were implicit costs

A: Profits refers to the income earned by the firm after accounting for all the expenses. These…

Q: Question 2  With the estimates shown below, Sarah needs to determine the trade-in (replacement)…

A: Present value is the value of investment in today's dollar  Future value is the value of investment…

Q: When foreigners' preferences for US goods fall: Drag and drop options on the right-hand side and…

A: We can say- 1) Effect on aggregate demand When foreigners' preferences for US goods fall, then they…

Q: The last digit of the heights of 67 statistics students were obtained as part of an experiment…

A: Histogram is the graphical representation with bars of two variables.  Data are reported when…

Q: Which of the following is true for the European Central Bank (ECB)? the members of its executive…

A: The European Central Bank (ECB) refers to a central bank of the European Union nations that have…

Q: serve control t

A: Money is used as medium of exchange and store of value. Furthermore, the money is used as unit of…

Q: 1. Shelley is deciding whether to start a winery. To do this, she must leave her job as a consultant…

A: Opportunity cost is the cost of producing one good in terms of other.    Opportunity cost is helpful…

Q: What is the logarithmic transform of the utility function U=xα1xβ2xγ3U=x1αx2βx3γ given the budget…

A: Given,  Logarithmic transform of the utility function : U=xα1xβ2xγ3U=x1αx2βx3γBudget Constraint :…