This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Sumptuary taxes are often justified on the grounds that _____. a. bad activities should be ... (Read 108 times)

altibaby

  • Hero Member
  • *****
  • Posts: 562
on: Jul 1, 2018
Sumptuary taxes are often justified on the grounds that _____.
 
  a. bad activities should be discouraged
  b. the rich should pay more
  c. the poor should pay less
   d. merit goods need encouragement

Question 2

Suppose the production function for T-shirts can be represented as q = L0.25K0.75. When K = 1 and q = 2, what is the slope of the isoquant? If there is insufficient information to answer the question, describe what information is needed.
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

olderstudent

  • Sr. Member
  • ****
  • Posts: 339
Reply #1 on: Jul 1, 2018
Answer to Question 1

a

Answer to Question 2

Since the slope of the isoquant is -K/3L, one needs to know the level of L. Since K = 1 and q = 2, L must equal 16. Thus, the slope of the isoquant at this point is -(1/48).


altibaby

  • Hero Member
  • *****
  • Posts: 562
Reply #2 on: Jul 1, 2018
Thank you :)


olderstudent

  • Sr. Member
  • ****
  • Posts: 339
Reply #3 on: Jul 1, 2018
Happy to help you


« previous next »
 

Did you know?

In inpatient settings, adverse drug events account for an estimated one in three of all hospital adverse events. They affect approximately 2 million hospital stays every year, and prolong hospital stays by between one and five days.

Did you know?

People often find it difficult to accept the idea that bacteria can be beneficial and improve health. Lactic acid bacteria are good, and when eaten, these bacteria improve health and increase longevity. These bacteria included in foods such as yogurt.

Did you know?

Intradermal injections are somewhat difficult to correctly administer because the skin layers are so thin that it is easy to accidentally punch through to the deeper subcutaneous layer.

Did you know?

Giardia is one of the most common intestinal parasites worldwide, and infects up to 20% of the world population, mostly in poorer countries with inadequate sanitation. Infections are most common in children, though chronic Giardia is more common in adults.

Did you know?

Though newer “smart” infusion pumps are increasingly becoming more sophisticated, they cannot prevent all programming and administration errors. Health care professionals that use smart infusion pumps must still practice the rights of medication administration and have other professionals double-check all high-risk infusions.

Changes in metabolic rate of selected structures in a mammal's body during different activities Changes in metabolic rate of selected structures in a mammal's body during different activities
Hydration is essential to body function, especially engaged in strenuous activities Hydration is essential to body function, especially engaged in strenuous activities
The truck driver subculture, centering on their occupational activities and interests, is also ... The truck driver subculture, centering on their occupational activities and interests, is also ...
Leadership Activities That Support Intrinsic Motivation in Nurses Leadership Activities That Support Intrinsic Motivation in Nurses
Fun activities kids Fun activities kids
Cookies activities for senior kindergarten Cookies activities for senior kindergarten
Video: Blood Flow through the Human Heart

For a complete list of videos, visit our video library