Suppose that shoes are provided by a competitive constant-cost industry. Suppose the government starts requiring each shoemaker
Question:
Suppose the government starts requiring each shoemaker to pay an annual license fee.
a. Does the price of shoes change by more in the short run or in the long run?
b. Does the industry-wide quantity change by more in the short run or in the long run?
c. Does the quantity provided by each shoemaker change by more in the short run or in the long run?
d. Do the profits of shoemakers change by more in the short run or in the long run?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 64% (14 reviews)
a Price does not change in the shor...View the full answer
Answered By
Ali Khawaja
my expertise are as follows: financial accounting : - journal entries - financial statements including balance sheet, profit & loss account, cash flow statement & statement of changes in equity -consolidated statement of financial position. -ratio analysis -depreciation methods -accounting concepts -understanding and application of all international financial reporting standards (ifrs) -international accounting standards (ias) -etc business analysis : -business strategy -strategic choices -business processes -e-business -e-marketing -project management -finance -hrm financial management : -project appraisal -capital budgeting -net present value (npv) -internal rate of return (irr) -net present value(npv) -payback period -strategic position -strategic choices -information technology -project management -finance -human resource management auditing: -internal audit -external audit -substantive procedures -analytic procedures -designing and assessment of internal controls -developing the flow charts & data flow diagrams -audit reports -engagement letter -materiality economics: -micro -macro -game theory -econometric -mathematical application in economics -empirical macroeconomics -international trade -international political economy -monetary theory and policy -public economics ,business law, and all regarding commerce
4.00+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Economics questions
-
Suppose that a bank is expected to pay an annual dividend of $4 per share on its stock in the current period and dividends are expected to grow 5 percent a year every year, and the minimum required...
-
The sports club plans to pay an annual dividend of $1.20 per share next year, $1.00 per share a year for the following two years, and then cease paying dividends altogether. How much is one share of...
-
Rubenstein Bros. Clothing is expecting to pay an annual dividend per share of $0.75 out of annual earnings per share of $2.25. Currently, Rubenstein Bros. stock is selling for $12.50 per share....
-
The roller coaster in Figure P6.36 starts with a velocity of 15 m/s. One of the riders is a small girl of mass 30 kg. Find her apparent weight when the roller coaster is at locations B and C. At...
-
A team of researchers has obtained a dinosaur bone (Tyrannosaurus rex) and has attempted to extract ancient DNA from it. Using primers to the 12S rRNA mitochondrial gene, they have used PCR and...
-
A turbojet engine is operating under the following conditions: Altitude (standard day) 12,000 m Mach A turbojet engine is operating under the following conditions: Altitude (standard day) 12,000 m...
-
Find the indicated z-score(s) shown in the graph. Area = 0.05 Area = 0.05 z = ? 0 z=? Z
-
Define the phrase earnings management. Under what conditions, if any, is earnings management acceptable? Do auditors responsibilities include actively searching for instances of earnings management...
-
The budget director for Campbell Cleaning Services prepared the following list of expected selling and administrative expenses. All expenses requiring cash payments are paid for in the month incurred...
-
A brand manager for ColPal Products must determine how much time to allocate between radio and television advertising during the next month. Market research has provided estimates of the audience...
-
Suppose the government institutes a new sales tax on shoes, which are provided by a competitive constant-cost industry. a. Does the price of shoes change by more in the short run or in the long run?...
-
Suppose there is a fall in the demand for shoes, which are provided by a competitive constant-cost industry. a. Does the price of shoes change by more in the short run or in the long run? b. Does the...
-
Use Euler circles to check the validity of the arguments in Problems 3546. All lions are fierce. Some lions do not drink coffee. Therefore, some fierce creatures do not drink coffee.
-
The domain of the function f(x) = x + is Oa r=0) O b. x 0 Oc. The real number except {0} d. None Oe. The real number Of z>0
-
What are the different regression analysis methods and determine what methods fit each analysis type?
-
What are the social responsibilities of business? Explain
-
Suppose you throw a ball vertically upward with a speed of 49 m/s. Neglecting air friction, what would be the height of the ball be 2.5 second later? Give the answer to the nearest whole number Your...
-
Suppose that you are moving into a new apartment and want to carry a curtain rod around a corner joining two hallways. You must carry the rod horizontally. If one of the hallways is 9 feet wide and...
-
Compute the first-order partial derivatives. W = X y + z
-
Complete problem P10-21 using ASPE. Data from P10-21 Original cost ................................................................. $7,000,000 Accumulated depreciation...
-
Which of the following is not a required financial statement according to IAS No. 1? A. Statement of financial position. B. Statement of changes in income. C. Statement of comprehensive income.
-
A bank account pays 19.2% interest with monthly compounding. A series of deposits started with a deposit of $5000 on January 1, 1997. Deposits in the series were to occur each 6 months. Each deposit...
-
Let's assume that a late-twentieth century college graduate got a good job and began a savings account. He is paid monthly and authorized the bank to automatically withdraw $75 each month. The bank...
-
Bob, an engineer, decided to start a college fund for his son. Bob will deposit a series of equal, semiannual cash flows with each deposit equal to $1500. Bob made the first deposit on July 1, 1998...
-
Pretend you need to conduct a title search. You have the information needed from your online search, but you need to go to the clerk's office to finish your search. What information/records will/can...
-
Watch the Tedx Talk (Melvin Russell: I love being a police officer, but we need reform) by Lt. Colonel Melvin Russel from the Baltimore Police. In his talk, he discusses how law enforcement is in...
-
Solve for X. Assume X is a 2 x 2 matrix. Do not use decimal numbers in your answer. If there are fractions, leave them unevaluated. X = # 6 X+ 7 = 7 8 X. [24]*+41-41 -5
Study smarter with the SolutionInn App