For the next few questions, consider the market for a type of equipment used by crafting enthusiasts to cut out die-cut shapes. It's a specialized market, so we'll just have to assume we have enough buyers and sellers to have our demand and supply curves be straight, smooth lines. The following information applies to the market before any tax is applied:
Vertical intercept, demand curve: 80
Vertical intercept, supply curve: 50
P* = $60
Q* = 40
Later, a tax is put on the market. You'll have to calculate the per-unit tax. But you do know that it makes the price paid by buyers rise to $70 and the price received by sellers to fall to $55. With the tax, only 20 units are sold. (These numbers are not very realistic - but just go with it.)
A.) Carefully following all numeric instructions, calculate the per-unit tax.
B.) Calculate market total surplus AFTER the tax is applied. Be careful about what's included and what is not.
C.) Calculate producer surplus AFTER the tax is applied.
D.) Calculate consumer surplus BEFORE the tax is applied.
E.) Calculate DWL after the tax is applied.
In: Economics
A golf club manufacturer claims that golfers can lower their scores by using the manufacturer's newly designed golf clubs. Eight golfers are randomly selected and each is asked to give his or her most recent score. After using the new clubs for one month, the golfers are asked again to give their most recent score. The scores for each golfer are given in the table below. Is there enough evidence to support the manufacturer's claim? Let d=(golf score after using the newly designed golf clubs)−(golf score before using the newly designed golf clubs). Use a significance level of α=0.05 for the test. Assume that the scores are normally distributed for the population of golfers both before and after using the newly designed clubs. Golfer 1 2 3 4 5 6 7 8 Score (old design) 96 86 79 95 78 92 75 79 Score (new design) 94 89 74 90 82 90 71 74 Step 3 of 5 : Compute the value of the test statistic. Round your answer to three decimal places.
In: Statistics and Probability
A researcher wants to test the efficacy of a drug called Ozempic for curbing hunger and thus promoting weight loss. The researcher believes that feelings of hunger will decrease after taking Ozempic. The researcher recruits 5 people to participate. They rate their hunger before taking a dose of Ozempic and then rate it again after taking Ozempic. The data are provided below. Test their hypothesis using the 5-step hypothesis testing procedure. Report your answers for each step by filling in the blanks below. Use a=0.05. Please post the answers to all 5 steps:
| Before | After |
| 9 | 5 |
| 8 | 5 |
| 7 | 1 |
| 10 | 2 |
| 6 | 6 |
Step 1: The researcher's hypothesis is (type your answer as: 1-tailed or 2-tailed):
Step 2: t obtained= (type your answer with 2 decimal places)
Step 3: t critical= (type your answer with 3 decimal places; report 2 critical values if necessary)
Step 4: Make your comparison. No need to write anything here.
Step 5: Type your final numerical answer in APA format:
and then type your conclusion:
In: Statistics and Probability
Jesse Brimhall is single. In 2019, his itemized deductions were $9,000 before considering any real property taxes he paid during the year. Jesse’s adjusted gross income was $70,000 (also before considering any property tax deductions). In 2019, he paid real property taxes of $3,000 on property 1 and $1,200 of real property taxes on property 2. He did not pay any other deductible taxes during the year.
a. If property 1 is Jesse’s primary residence and property 2 is his vacation home (he does not rent it out at all), what is his taxable income after taking property taxes into account?
b.If property 1 is Jesse’s business building (he owns the property) and property 2 is his primary residence, what is his taxable income after taking property taxes into account (ignore the deduction for qualified business income)?
c. If property 1 is Jesse’s primary residence and property 2 is a parcel of land he holds for investment, what is his taxable income after taking property taxes into account?
In: Accounting
An expansion tank is a necessity in a chilled water cooling network because:
In: Mechanical Engineering
If an exothermic reaction produces more heat in an open container than it does in a closed, rigid container, what can you say about the numbers of moles of gases in the reaction? Explain your answer.
In: Chemistry
Be sure to address each point in the question and explain your argument carefully.
2. Describe one evidence to support the idea that economies open to the world economy grow faster than economies that are closed.
In: Economics
describe the symbiotic host-microbe relationship for human microbiome and you must include the following topics
A) open/closed system, B) partner fidelity, C) transmission, and D) function in your discussion
In: Biology
Consider a one period macroeconomic model for the closed economy of the island of Anabel. Describe the three agents in the model, the exogenous variables, and the endogenous variables in the model. Graph and describe the competitive equilibrium of Anabel's economy.
In: Economics
Explain crowding out of investment via increased government spending using both the AD-AS framework and closed-economy loanable funds simultaneously, drawing both the short-run and long-run equilibria.?
In: Economics