Relationship between tax revenues, deadweight loss, and demand elasticity

For a given supply curve, more inelastic demand results in higher tax revenues and lower deadweight loss associated with a tax increase. A relatively less elastic demand implies that consumers are not highly responsive to changes in price; a tax on the good does not lead to a large change in quantity demanded. This implies that the equilibrium quantity after imposition of a tax is only slightly less than the equilibrium quantity before the tax, entailing minimal deadweight loss since the lost gains from trade are relatively small.

1-2 Discussion: Economics nd Business Decisions

Every individual confronts economic issues daily. This is especially true of business owners, who spend their time thinking of economic issues such as how to handle changes in the price of goods, how to allocate their time, and whether to buy or produce goods in order to efficiently allocate their scarce resources.

Sample statistics homework

Sample statistics homework are presented to prepare students for their exams. Example: On average 2 new checking accounts are opened per day at the Farmer’s Bank. What is the likelihood that for a particular day at least 1 new account is opened?

Information Technology Final project two

The Information Technology Field: Before you explore career options in information technology, it is important to distinguish between the various disciplines that exist within this field. In this section, you will be considering these disciplines, as well as two primary tools for information technology professionals: programming and scripting.

Choosing a PICOT program

Are you wondering how you can choose your PICOT program? Writing a Patient, Intervention, Comparison, Outcome and Treatment paper is quite simple. The first step is to brainstorm the clinical problems associated with your area of specialization.