Suppose the equilibrium price of textbooks is $40 a textbook. At that price, quantity of textbooks demanded and supplied is 20,000. If a $5 tax per textbook paid by producers increases the price paid by consumers to $42 a textbook and reduces equilibrium quantity sold to 18,000, then:

A. elasticity of demand is 0.89. Consumers pay a larger portion of the tax.
B. elasticity of demand is 0.46. Consumers pay a smaller portion of the tax.
C. elasticity of demand is 2.16. Consumers pay a larger portion of the tax.
D. elasticity of demand is 2.16. Consumers pay a smaller portion of the tax

Alocal club is selling christmas trees and deciding how many to stock for the month of december. if demand is normally distributed with a mean of 100 and standard deviation of 20, trees have no salvage value at the end of the month, trees cost $20, and trees sell for $50 what is the service level?

Suppose there are three types of consumers who attend concerts at your university’s performing arts center: students, staff, and faculty. each of these groups has a different willingness to pay for tickets; within each group, willingness to pay is identical. there is a fixed cost of $1,000 to put on a concert, but there are essentially no variable costs. for each concert: i. there are 140 students willing to pay $20. (ii) there are 200 staff members willing to pay $35. (iii) there are 100 faculty members willing to pay $50. a) if the performing arts center can charge only one price, what price should it charge? what are profits at this price? b) if the performing arts center can price discriminate and charge two prices, one for students and another for faculty/staff, what are its profits? c) if the performing arts center can perfectly price discriminate and charge students, staff, and faculty three separate prices, what are its profits?

In william rathje's garbology project that focused on household waste, front door interviews found 15 percent of respondents saying that they consumed beer. the trash discard from the same area showed what percentage of household's consuming beer