Economics HL- IB Price elasticity and indirect taxes Q. Using at least one diagram‚ explain why knowledge of price elasticity of demand is necessary for a government when they are considering increasing indirect taxes on certain products. (16th May 2011‚ Economics- Paper 2(HL)‚ Time Zone 2) The government needs to understand price elasticity of demand when setting the price of the commodities and services it provides for the community (like public transport price). It also needs to be able
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Introduction It would be impossible for any business to survive if there were no demand for their product. Therefore‚ one of the most important attributes of managerial economics is demand estimation. Demand estimation is an important tool because it helps the managers to estimate demand using a scientific method known as Econometrics. It is essential for a manager to be able to determine the appropriate variables of demand function‚ according to the textbook‚ Managerial Economics Applications: Strategies
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Question 1: What was Apple’s primary pricing objective when it introduced the iPhone? What was its primary objective in cutting the product’s price just two months after introduction? From the beginning‚ Apple took advantage of its product’s special features in the markets and set a pricing strategy as price skimming with two main purposes. Firstly‚ they want their product to be determined to have an outstanding position in their customers’ needs as well as being proved to be a breakthrough development
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competitive market. Your best estimates indicate that‚ based on current tax rates‚ the monthly market demand for telecommunication services is given by Qd =250 - 5P and the market supply (including taxes) is Qs = 4P - 110 (both in millions)‚ where P is the monthly price of telecommunication services. The senator is considering tax reform that would dramatically cut tax rates‚ leading to a supply function under the new tax policy of Qs = 4.171P - 110. How much money would a typical consumer save
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9 – Elasticity and Demand Demand and Elasticity Elasticity is a way to measure the responsiveness of a dependent variable to changes in an independent variable. Elasticity is defined as a ratio of the percentage change in a dependent variable to a percentage change in an independent variable. Elasticity ≡ percentage change of dependent variable Percentage change of independent variable When: Y = f(X) %ΔY E ≡ %ΔX Fal l ’05 © Reynolds 2005 Microeconomics Slide 1 Chapter 9 – Elasticity and Demand
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Question 1.1. (TCO 1) Which one of the following Windows NET commands options is not used to control services with the NET ????? ServiceName? (Points : 4) STOP START CONTINUE PAUSE DELETE Question 2.2. (TCO 1) The netsh command that will set the IP Address of the interface name "NIC" to 192.168.100.10 255.255.255.0 with a metric of 1 is _____. (Points : 4) netsh interface set ip address "NIC" source=static 192.168.100.10 255.255.255
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Supply and Demand Simulation ECO/365 November 26‚ 2012 The purpose of this paper is to discuss the Supply and Demand simulation from the student website. The idea is to identify two microeconomic and two macroeconomic principles present in the simulation and to explain why these principles are categorized as macro or microeconomic. The paper will also determine one shift of the supply curve and one shift of the demand curve from the simulation‚ as well as why these
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1.0 Introduction A sudden anthrax attack has caused panic among the beef consumers in Bangladesh. The demand and sale of beef are falling drastically across the country following reports of outbreak and spread of anthrax attack on cattle and human beings in different areas. This year in Bangladesh the disease was first identified in Sirajganj on Aug 19‚ at Chithhulia village under Kayempur of ShahjadpurUpazila. There at least 26 people‚ including two children‚ showed signs of infection. After
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Feedback: creates a surplus of labor. Question 2 0 out of 1 points A price ceiling set below the equilibrium price means that the quantity supplied ____ the quantity demanded so that a ____ exists. Answer Selected Answer: is less than; surplus Correct Answer: is less than; shortage Response Feedback: The correct answer is A Question 3 0 out of 1 points A price support set above the equilibrium price does which of the following? i) decreases producer surplus ii) decreases consumer
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Supply and Demand Simulation ECO/365 March 10‚ 2014 Ed Hartmann‚ D.B.A Supply and Demand Simulation Microeconomics and Macroeconomics In the simulation the supply and demand was affected due to the decreasing of the rent in order to lower the vacancy percentage and increase the revenue for the rental company. This is thought of as a temporary fix on a month to month lease basis and provides us with a good example of what microeconomics is. When a new company decided to move into town and increase
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