Anthony Cunningham Microeconomics Mr. G. E. Fitzgerald October 17‚ 2012 Tax Elasticity and Tax Policy No matter what‚ taxes matter. People talk about them‚ complain about them‚ and try to dodge them when they can. Businesses also react to taxes‚ both in how they organize their activities and‚ perhaps‚ in where they carry them out. How people and businesses react in turn affects the level and structure of taxation. The purpose of taxation is to raise revenue to pay for public goods‚ but
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Demand and Elasticity Linear demand curve: Q = a – bP Elasticity: E d = (ΔQ/ΔP)/(P/Q) = -b(P/Q) E d = -1 in the middle of demand curve (up is more elastic) Total revenue and Elasticity: Elastic: Ed < -1 ↑P→↓R (↑P by 15%→↓Q by 20%) Inelastic: 0 > Ed > -1 ↑P→↑R (↑P by 15%→↓Q by 3%) Unit elastic: Ed = -1 R remains the same (↑P by 15%→↓Q by 15%) MR: positive expansion effect (P(Q) – sell of additional units) + price reduction effect (reduces revenues because of lower price (ΔP/ΔQ)/Q)
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Income Elasticity of Demand Income elasticity of demand may be defined as the ratio or proportionate change in the quantity demanded of a commodity to a given proportionate change in the income. In short‚ it indicates the extent to which demand changes with a variation in consumer’s income. Practical application of income elasticity of demand 1. Helps in determining the rate of growth of the firm. If the growth rate of the economy and income growth of the people is reasonably forecasted‚ in that
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References: * Introduction” www.apple.com” * iPhone Quantity & Prices http://aaplinvestors.net/stats/iphone/pricing/ * Market type & factors affecting Supply & Demand www.investopedia.com/ * Market Analysis “http://techcrunch.com/2012/02/16/apple-sold-more-iphones-than-macs-ever/ * Samsung history www.samsung.com * Samsung’s price history http://reviews.cnet.com/smartphones/samsung-galaxy-note-carbon/4014-6452_7-35117983.html
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of Business‚ The George Washington University‚ Washington‚ DC 20052‚ USA. E-mail: kwak@gwu.edu A b stra ct Monte Carlo simulation is a useful technique for modeling and analyzing real-world systems and situations. This paper is a conceptual paper that explores the applications of Monte Carlo simulation for managing project risks and uncertainties. The benefits of Monte Carlo simulation are using quantified data‚ allowing project managers to better justify and communicate their arguments when
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Supply‚ Demand and Price Elasticity Anjni Kumar Jennifer Marciel Me Mai Nou Yang Rosina Hughey Eco/212 December 14‚ 2010 Zack Zardo Supply‚ Demand and Price Elasticity Consumers and economists use the concept of elasticity to measure how an economic variable responds to changes in another economic variable (Hubbard & O’Brien‚ 2010‚ p. 168). Supply and demand go together and play an important part in price elasticity. “Price elasticity of demand is the responsiveness of the quantity
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They have typical three layer blood vessel wall structure with a thick tunica media. The walls of arteries are highly compliant due to the elastic fibres present. The wall thickness of the arteries varies in based on the proximity to the heart. The elasticity of arteries allows pressure absorption from the left ventricle of the heart as it pumps blood into the arteries. There are two significant types of arteries‚ elastic and muscular. Elastic arteries are the largest in the body and include the aorta
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Decision Form Period 5 Company____ 3 COPY I Price (per unit) Advertising Sales Corporate Identity Market research report Market 1 3090 EUR 6 mEUR MEUR Yes: О x 2 Market 2 4420 FCU mEUR 3 Market 1 no. of ppl. Market 2 no. of ppl. Yes: О Yes: О Value Analysis 1 2 Sales Staff 120 90 Bid price for tender 2699 EUR/unit Relaunch (I – old) Introduction (I – new) Ecology 2.6 4.8 Technology COPY I – old COPY I – new COPY II – new 35 50 no. of ppl. no. of ppl. no. of ppl
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The municipality of Sta. Cruz was an active participant in the making of Mindanao’s and Philippines’ histories. From the Spanish rule‚ to American regime‚ to Japanese occupation‚ to independence‚ to Martial Law‚ to EDSA\Revolution‚ Sta. Cruz’ story was intricately interwoven into the country’s saga. This gulf town was originally called "Labo" a Bagobo word meaning "marshland". Labo is situated "between a confluence of two mountain streams where waters were as clear as crystal and was but a short
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Carlos Slim The reason I have decided to research Carlos Slim is because he is currently the most wealthy man in the world and has been since 2010 according to the Forbes rich list. Carlos Slim was born in Mexico on the 28th January 1940. Carlos Slim has a net worth of $68.8 billion with $49 billion coming from America Movil which during 2010 was the main mobile phone carrier in Latin America. Carlos Slims parents are both from Lebanon descent‚ Carlos Slims father emigrated at the age of 14
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