Suppose There Is a Market That Has Market Demand Characterized

question 17

Essay

Suppose there is a market that has market demand characterized as X = 30 - P/3.
Suppose further that market supply can be written as X = P/2 - 2.
(A)Find the equilibrium price and quantity in this market.
(B)If a unit tax of $16 is imposed on good X,what are the equilibrium price,quantity,and tax revenue in the market?
(C)Suppose an ad valorem tax of 30 percent is imposed on good X.The after-tax demand equation would be X = 30 - P/2.Now find the equilibrium price,quantity,and tax revenue in the market.
(D)What can be said about the amount of tax revenue generated under each taxing scheme,and why?

Explain the role of power and authority in organizational behavior and how they influence group and organizational dynamics.

Understand the significance of organizational climate and culture on team behavior and performance.

Analyze and suggest strategies to enhance group effectiveness by overcoming common barriers.

Discuss the concept of coercive power and its application in organizational settings.

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Definitions:

LIFO Reserve

The difference between the cost of inventory calculated using the Last In, First Out method and the First In, First Out method.

Current Assets

Assets that are expected to be converted into cash, sold, or consumed within one year or within the business's operating cycle.

LIFO

Last In, First Out, an inventory valuation method that assumes the most recently acquired items are sold first, affecting accounting and tax calculations.

FIFO

"First In, First Out," an inventory valuation method where goods first acquired are the first to be sold.