Economics Answers

Minimum Wage. Determine the job loss.
D: P = 1,640 - 2Q
S: P = 240 + 2Q
MW: P = 1,260

Pollution Taxes. A tax of $12 per unit of pollution is imposed. How much pollution will get cleaned up?
A: 1 10 18 20 22
B: 2 3 5 7 9
C: 4 6 8 28 30

Transferable Pollution Credits. Each firm gets two transferable pollution credits. What are the clean-up costs?
A: 1 10 18 20 22
B: 2 3 5 7 9
C: 4 6 8 28 30

Pollution. Determine the amount of pollution after the tax.
D: P = 2,400 - 2Q
S: P = 400+ 2Q
Poll.: P = 80

Pollution. Determine the SWL before the tax.
D: P = 1,400 - 2Q
S: P = 200 + 2Q
Poll.: P = 80

Tax. Determine the SWL.
D: P = 440 - 2Q
S: P = 40 + 2Q
Tax: P = 80Q

The Market. What is the competitive market equilibrium?
D: P = 220 - 4Q
S: P = 40 + 2Q

Elasticity. Determine the elasticity at Q = 20.
D: P = 240 - 4Q

Economic Profit. What is the economic profit given this set of projects?
Project Acct Profit
W 100
X 400
Y 250
Z 520

Opportunity Costs. What are the opportunity costs given this set of projects?
Project Direct Costs Total Benefits
A 800 860
B 40 240
C 200 320
D 360 660