Maurice Tutor

(5)

$15/per page/Negotiable

About Maurice Tutor

Levels Tought:
Elementary,Middle School,High School,College,University,PHD

Expertise:
Algebra,Applied Sciences See all
Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 307 Weeks Ago, 5 Days Ago
Questions Answered: 66690
Tutorials Posted: 66688

Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 04 Dec 2017 My Price 7.00

handmade snuffbox industry

The handmade snuffbox industry is composed of 100 identical firms, each having short-run total costs given by

where q is the output of snuffboxes per day.

a. What is the short-run supply curve for each snuffbox maker? What is the short-run supply curve for the market as a whole?

b. Suppose the demand for total snuffbox production is given by

What is the equilibrium in this marketplace? What is each firm’s total short-run profit?

c. Graph the market equilibrium and compute total producer surplus in this case.

d. Show that the total producer surplus you calculated in part c is equal to total industry profits plus industry short-run fixed costs. e. Suppose now that the government imposed a $3 tax on snuffboxes. How would this tax change the market equilibrium?

f. How would the burden of this tax be shared between snuffbox buyers and sellers?

g. Calculate the total loss of producer surplus as a result of the taxation of snuffboxes. Show that this loss equals the change in total short-run profits in the snuffbox industry. Why don’t fixed costs enter into this computation of the change in short-run producer surplus?

Answers

Maurice Tutor
(5)
Status NEW Posted 04 Dec 2017 07:12 PM My Price 7.00

Hel-----------lo -----------Sir-----------/Ma-----------dam-----------Tha-----------nk -----------You----------- fo-----------r u-----------sin-----------g o-----------ur -----------web-----------sit-----------e a-----------nd -----------acq-----------uis-----------iti-----------on -----------of -----------my -----------pos-----------ted----------- so-----------lut-----------ion-----------.Pl-----------eas-----------e p-----------ing----------- me----------- on-----------cha-----------t I----------- am----------- on-----------lin-----------e o-----------r i-----------nbo-----------x m-----------e a----------- me-----------ssa-----------ge -----------I w-----------ill----------- be-----------

Not Rated(0)