Write a policy brief making a recommendation to your town on implementing alternative revenue methods in order to NOT depend on federal or state aid.

Topic: CONDUCTING MARKETING RESEARCH AND FORECASTING DEMAND Suppose the annual plan called for selling 34,000 widgets in the first quarter at $2 per widget, for total revenue of $68,000. At quarter's end, only 30,000 widgets were sold at $1.80 per widget, for total revenue of $54,000. Based on the Sales-variance analysis, how much of the sales performance is due to the price decline and how much to the volume decline? Note: Sales-variance analysis measures the relative contribution of different factors to a gap in sales performance.

CASE 2. ELASTICITY

In the United States, taxes are imposed on cigarettes at the state level. As a result, there are large differences among states. As of July 1, 2010, three states had cigarette taxes in excess of $3.00 per pack: Rhode Island, Connecticut, and Washington. Seven more had rates between $2.00 and $3.00 (including the District of Columbia). Missouri had the lowest rate among the 50 states at $0.17 a pack. The following article describes a proposal to raise taxes by $1.00 per pack in the state of Washington. We would expect an increase in the tax on cigarettes to increase their price to consumers. An interesting question from the point of view of health and tax revenue is how much a price increase lowers demand. One of the commentators in the article claims that increasing cigarette prices by 10 percent reduces youth smokers by 6–7 percent; this is an implied demand elasticity of –0.6 (6%/10%). How do you think this compares to what we would expect from adult smokers? Many people would argue that because more young people are new smokers and because they have less money than adults, their demand for cigarettes would be more elastic. On the other hand, if peer pressure favors smoking, this could lower demand elasticity for youths. One problem that states face as they increase their cigarette taxes is that people will seek cigarette substitutes from cheaper areas. In Washington, the state pressured Indian tribes to raise the tribal tax rate on cigarettes to the overall state level. By making these substitutes to state-taxed cigarettes more expensive, the loss of customers in response to the state tax increase would be less.

Question: Analyze the given case and find that who Are the Elastic Smokers? Provide justification to you answer.

15. Use golden rule in the Solow growth framework to analyze the following three facts about the US economy, and discuss whether the US is over (or under) accumulating capital.
    1. The US capital stock is about 1.6 times of one year’s GDP;
    2. about 10% of GDP is used to replace depreciating capital;
    3. the return to capital is about 25% of US GDP.

Do believe that Congress and the former Obama administration or the current Trump administration are responsible for the current Economic situation? Make sure you discuss this in Economic terms.

In international trade there are two types of barriers to trade: Tariff and non-tariff.

As a guide:

Worldwide, governments use three types of tariff barriers when valuing an imported product and to assess duties due that government.

In addition, they may use two types of non-tariff barriers: monetary and market.

Question

1. Identify 5 market barriers and give a brief 1 to 2 line explanation of what each one means & how will these barriers affect your decisions when taking your business overseas?

How do the practices of seinorage and debasement impact the value of specie standard money?

Suppose the quantity demanded for a product is given by  ?=20(?+1)−?/4q=20(A+1)−p/4, where ?p is the price of the good. The good is sold by a monopoly firm with constant marginal cost equal to 20 and fixed cost ?=400(?+1)2f=400(A+1)2. Let ?A be 4 and answer the following:

a) Suppose the firm must charge the same price to all consumers. Derive the profit maximizing price and quantity if the firm were to serve the consumers interested in this good. .

b) Suppose the firm were to charge every consumer the same price. Will the firm find it profitable to operate?

c) Suppose the firm were able to practice perfect price discrimination. What would be the firm's profit in this case? Would the outcome be efficient?

d) What is the efficiency loss of the outcome in part (b) ?

Define fiscal policy and the fiscal policy tools used to regulate the economy. What is countercyclical fiscal stimulus? Discuss the concept of crowding-out. What are automatic stabilizers and how do they affect the economy.

As the United States became more deeply entrenched in Vietnam under President Kennedy, the nation’s political and military leaders remained confident that superior technology and firepower would subdue the enemy. They were wrong. Explain their initial understanding of the political situation in South Vietnam and how their assumptions about U.S. technological and military superiority had to be revised as the conflict there escalated.

1. List and define 10 responsibilities of a Project Manager

2. List and define the characteristics of a Project Management

3. Explain the concept of work break down structure(WBS). (10 points)

Consider Cournot model of quantity competition between two firms, firm 1 and firm 2. Suppose the inverse demand for the firms product is given by ?=40(?+2)−(?+1)(?1+?2)p=40(A+2)−(B+1)(q1+q2), where ??qi denotes the quantity of firm ?i, ?=1,2i=1,2, ?A is 6 and ?B is 9. Each firm's average cost is equal to ?+2c+2, where ?c is 4.
a) Derive and accurately plot each firm's best response function.
b) Find the (Nash) equilibrium quantities, price, profits and consumer surplus.
c) Suppose next that each firm has a fixed cost equal to ?=20(?+1)f=20(A+1) where A is 6. Would the allocation you found in part (b) be an equilibrium? Explain.

Agriculture industry is extremely vulnerable towards weather conditions and economic conditions, so the government constantly imposes price floors (it is illegal to charge a price lower than a specific level) to help the farmers to sell agricultural products at a higher price. Below is the information on the Kumquat market: MB = 70 - 0.5Q MC = 7.5 + 0.125Q What are the equilibrium price and quantity? How much total benefit do kumquat producers receive when the market is in the equilibrium? How much total cost do kumquat producers have when the market is in the equilibrium? Suppose the federal government decides to impose a price floor of $30 per crate. Now how many crates of kumquats will consumers purchase? What is the magnitude of consumer surplus and producer surplus?

How the pay as you go social security system increase or may not increase the social welfare and how the fully funded social security system increase or  may not increase the social welfare

Which of the following statements about the sticky wage theory of the short-run aggregate supply curve (SRAS) is (are) correct?
(x) Wages are “stuck” because contracts typically require that input prices must change at the same rate as output prices in order to keep firms from increasing profits as they increase production.
(y) Wages and other input prices are “sticky” because contracts fix some input prices and firms are unable to change the input prices they face as output prices are changing.
(z) The sticky wage theory of the short-run aggregate supply curve says that when the price level rises
more than expected, real wages fall because nominal wages are increasing at a slower rate than the price level.
A. (x), (y) and (z) B. (x) and (y) only
C. (x) and (z) only D. (y) and (z) only
E. (x) only

Which of the following statements about the sticky price theory of the short-run aggregate supply curve (SRAS) is (are) correct?
(x) Because not all prices adjust instantly to changing conditions, an unexpected fall in the price level leaves some firms with higher-than-desired prices, and these higher-than-desired prices depress sales and induce firms to reduce the quantity of goods and services they produce.
(y) The sticky price theory of short-run aggregate supply says that when the price level falls unexpectedly, some firms will have higher than desired prices which depresses their sales.
(z) An increase in aggregate demand will cause an increase in price in the output market. Sticky input prices will force firms to take losses since they can’t increase the prices of inputs that are used in the production of the output.
A. (x), (y) and (z) B. (x) and (y) only
C. (x) and (z) only D. (y) and (z) only
E. (x) only

4. Which of the following statements about the misperceptions theory of the short-run aggregate supply curve (SRAS) is (are) correct?
(x) The theory is used to explain the upward sloping SRAS curve since an increase in prices, ceteris paribus, will increase the output supplied in the short run.
(y) The theory says that if the price level increases more than people expect, firms believe that the relative price of what they produce has increased, so they increase production.
(z) Suppose the price level falls but suppliers only notice that the price of their particular product has fallen. Thinking there has been a fall in the relative price of their product, they cut back on production of their product.
A. (x), (y) and (z) B. (x) and (y) only
C. (x) and (z) only D. (y) and (z) only
E. (z) only