Solve for x. 8x 13 -x+10 12 Write the exact answer using either base-10 or base-e logarithms. log In O No solution ?
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At the beginning of this year, daily consumption of gasoline in the US amounted to 344 million gallons. It is es...
At the beginning of this year, daily consumption of gasoline in the US amounted to 344...
At the beginning of this year, daily consumption of gasoline in the US amounted to 344 million gallons. It is estimated that for every 10% increase in the price of gasoline, quantity demanded falls by 1.5%. By the end of this year, the price of gasoline is expected to increase by 40 cents from $2.95 per gallon. Based on this information, what is the expected quantity demanded (QD) for gasoline at the end of this year? Please specify your answer...
In the long run, the tax reduces the consumption of gasoline by _____ billion gallons per...
In the long run, the tax reduces the consumption of gasoline
by _____ billion gallons per year.
(Enter your response rounded to two decimal places.)
b. The amount of tax revenue the federal government recieves
from the tax is $_____ billion.
(Enter your response rounded to two decimal places.)
c. Compared to the short-run effect of an increase in the
excise tax on gasoline, the long-run effect of an increase in the
excise tax has a _____ effect on the...
Suppose that the long-run price elasticity of demand for gasoline is 0.45. Assume that the price...
Suppose that the long-run price elasticity of demand for gasoline is 0.45. Assume that the price of gasoline is currently $4.00 per gallon, the quantity of gasoline is 140 billion gallons per year, and the federal government decides to increase the excise tax on gasoline by $1.00 per gallon. Suppose that in the long run the price of gasoline increases by $0.60 per gallon after the $1.00 excise tax is imposec. a. Using the midpoint formula, after the tax is...
Cal Overhaut operates an ExxonMobil gas station franchise in Fitzhugh, MD. The price of gasoline is...
Cal Overhaut operates an ExxonMobil gas station franchise in Fitzhugh, MD. The price of gasoline is volatile and varies greatly from day to day. The price per gallon varies based on the seasonal blend of gasoline, which is determined by clean-air requirements, and Cal's pricing choices are limited to the profit margin for his price. Base price of unleaded regular delivered in New York harbor (Sept 2018 060 Added cost to Cal: 0.335 0.184 0.090 0.030 He recently raised the...
QUESTION 1 Suppose the short-run elasticity of demand for gasoline in the US retail market is -0.5, and the long-run e...
QUESTION 1 Suppose the short-run elasticity of demand for gasoline in the US retail market is -0.5, and the long-run elasticity of demand in the same market is -0.8. What is the impact of an increase in the US federal gasoline tax? A. Increase tax revenue in the short run and decrease tax revenue in the long run B. Decrease tax revenue in both short run and long run C. Increase tax revenue in both short run and long run...
A country's consumption possibilities frontier can be outside its production possibilities frontier if a
1. A country's consumption possibilities frontier can be outside its production possibilities frontier if a. the country engages in trade. b. the citizens of the country have a greater desire to consume goods and services than do the citizens of other countries. c. the country’s technology is superior to the technologies of other countries.d. All of the above are correct. 2. A production possibilities frontier will be a straight line if a. increasing the production of one good by x...
Refer to Figure 5-1. A perfectly elastic demand curve is shown in Panel D. Panel A. Panel C...
Refer to Figure 5-1. A perfectly elastic demand curve is shown
in
Panel D.
Panel A.
Panel C.
Panel B.
Refer to Figure 5-5. The data in the diagram indicates that
DVDs
are luxury goods.
are both luxury goods and price inelastic goods.
are price inelastic goods.
are both necessities and price inelastic goods.
are necessities.
3-
Consider the following pairs of items:
a. shampoo and conditioner
b. iPhones and earbuds
c. a laptop computer and a desktop computer
d....
In the market for televisions, the price of a television falls and nothing else changes. Price...
In the market for televisions, the price of a television falls and nothing else changes. Price (dollars per television) Show the effect of this change o os Choose between the following Use the single arrow tool to draw an arrow on the demand curve showing the direction of movement along the line OR Use the line tool to draw a new demand curve Only one of the effects is correct, and you must determine which is the appropriate one to...
Really confused because the professor did not teach us on it the professor said read the...
Really confused because the professor did not teach us on it the professor said read the book if you have questions (Master Budget Preparation) You have been hired by the McClosky Corporation and they manufacture industrial dye. The company is preparing its 20X9 master budget and has presented you with the following information: A. The projected December 31, 2018, balance sheet for the company is as follows: Assets Cash $ 6,080 Accounts Receivable 29,500 Raw Materials Inventory 1,000 Finished Goods...
The following graph shows the monthly demand functions for a particular good such as a particular...
The following graph shows the monthly demand functions for a particular good such as a particular kind of pizza pertaining to two consumers; Mrs. Brown and Mr. Blue. Mr. Blue does not care that much for this kind of pizza. Mrs. Brown, on the other hand, loves this pizza and believes that it is the best invention in the history of humankind. Currently the price of this pizza is $14 per unit and they are both buying 10 pizzas per...
At the beginning of this year, daily consumption of gasoline in the US amounted to 344 million gallons. It is estimated that for every 10% increase in the price of gasoline, quantity demanded falls by 1.5%. By the end of this year, the price of gasoline is expected to increase by 40 cents from $2.95 per gallon. Based on this information, what is the expected quantity demanded (QD) for gasoline at the end of this year? Please specify your answer...
In the long run, the tax reduces the consumption of gasoline
by _____ billion gallons per year.
(Enter your response rounded to two decimal places.)
b. The amount of tax revenue the federal government recieves
from the tax is $_____ billion.
(Enter your response rounded to two decimal places.)
c. Compared to the short-run effect of an increase in the
excise tax on gasoline, the long-run effect of an increase in the
excise tax has a _____ effect on the...
Suppose that the long-run price elasticity of demand for gasoline is 0.45. Assume that the price of gasoline is currently $4.00 per gallon, the quantity of gasoline is 140 billion gallons per year, and the federal government decides to increase the excise tax on gasoline by $1.00 per gallon. Suppose that in the long run the price of gasoline increases by $0.60 per gallon after the $1.00 excise tax is imposec. a. Using the midpoint formula, after the tax is...
Cal Overhaut operates an ExxonMobil gas station franchise in Fitzhugh, MD. The price of gasoline is volatile and varies greatly from day to day. The price per gallon varies based on the seasonal blend of gasoline, which is determined by clean-air requirements, and Cal's pricing choices are limited to the profit margin for his price. Base price of unleaded regular delivered in New York harbor (Sept 2018 060 Added cost to Cal: 0.335 0.184 0.090 0.030 He recently raised the...
Refer to Figure 5-1. A perfectly elastic demand curve is shown
in
Panel D.
Panel A.
Panel C.
Panel B.
Refer to Figure 5-5. The data in the diagram indicates that
DVDs
are luxury goods.
are both luxury goods and price inelastic goods.
are price inelastic goods.
are both necessities and price inelastic goods.
are necessities.
3-
Consider the following pairs of items:
a. shampoo and conditioner
b. iPhones and earbuds
c. a laptop computer and a desktop computer
d....
In the market for televisions, the price of a television falls and nothing else changes. Price (dollars per television) Show the effect of this change o os Choose between the following Use the single arrow tool to draw an arrow on the demand curve showing the direction of movement along the line OR Use the line tool to draw a new demand curve Only one of the effects is correct, and you must determine which is the appropriate one to...
The following graph shows the monthly demand functions for a particular good such as a particular kind of pizza pertaining to two consumers; Mrs. Brown and Mr. Blue. Mr. Blue does not care that much for this kind of pizza. Mrs. Brown, on the other hand, loves this pizza and believes that it is the best invention in the history of humankind. Currently the price of this pizza is $14 per unit and they are both buying 10 pizzas per...
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