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- https://socialsci.libretexts.org/Bookshelves/Economics/Intermediate_Microeconomics_with_Excel_(Barreto)/17%3A_Partial_Equilibrium/17.03%3A_Tax_Incidence_and_Deadweight_LossWe can also use the absolute values of the pre-tax (initial) price elasticities to get the relative burdens for consumer and firm: \[1 - \frac{0.4}{1.94} \approx 79.4\% \text{ and } 1 - \frac{1.54}{1....We can also use the absolute values of the pre-tax (initial) price elasticities to get the relative burdens for consumer and firm: 1−0.41.94≈79.4% and 1−1.541.94≈20.6% The Tax Incidence Formula to determine the share of the tax burden using demand and supply price elasticities is: 1−ϵiϵD+ϵS for i=D,S The Tax Incidence Formula drops the minus sign for the price elasticity of demand and for the res…
- https://socialsci.libretexts.org/Bookshelves/Economics/Intermediate_Microeconomics_with_Excel_(Barreto)/17%3A_Partial_Equilibrium/17.05%3A_Sugar_QuotaAs you increase the amount of imports, you lengthen the flat segment and push the pink part of the S curve to the right. We can explore the effects of changing demand and supply coefficients on the eq...As you increase the amount of imports, you lengthen the flat segment and push the pink part of the S curve to the right. We can explore the effects of changing demand and supply coefficients on the equilibrium price and quantity of sugar, but the natural question to ask is, what is the effect of the import allotment? In the case of the US sugar TRQ program, data provided by the USDA can be used to estimate the size of the deadweight loss.
- https://socialsci.libretexts.org/Bookshelves/Economics/Intermediate_Microeconomics_with_Excel_(Barreto)/12%3A_Output_Profit_Maximization/12.03%3A_Diffusion_and_Technical_ChangeThe lower the height (because the y axis shows the labor required to make one unit of output), the greater the labor productivity for that technology. The base of the rectangle of the newest technolog...The lower the height (because the y axis shows the labor required to make one unit of output), the greater the labor productivity for that technology. The base of the rectangle of the newest technology in Figure 12.13 equals the sum of the widths of the three rectangles representing obsolete technologies, which fall off the graph because they are no longer used.
- https://socialsci.libretexts.org/Bookshelves/Economics/Intermediate_Microeconomics_with_Excel_(Barreto)/04%3A_Compartive_Statics/4.04%3A_More_Practice_with_Deriving_DemandThis section derives the demand curve from two different utility functions, quasilinear preferences and perfect complements, to provide practice deriving demand curves. Nothing new here, just practice...This section derives the demand curve from two different utility functions, quasilinear preferences and perfect complements, to provide practice deriving demand curves. Nothing new here, just practice applying the tools, techniques, and concepts of the economic way of thinking.
- https://socialsci.libretexts.org/Bookshelves/Economics/Intermediate_Microeconomics_with_Excel_(Barreto)/00%3A_Front_Matter/01%3A_TitlePageBook: Intermediate Microeconomics with Excel (Barreto)
- https://socialsci.libretexts.org/Bookshelves/Economics/Intermediate_Microeconomics_with_Excel_(Barreto)/zz%3A_Back_Matter/10%3A_Index
- https://socialsci.libretexts.org/Bookshelves/Economics/Intermediate_Microeconomics_with_Excel_(Barreto)/11%3A_Input_Cost_Minimization/11.04%3A_Cost_CurvesIf the change in output is discrete, then we are measuring marginal cost from one point to another on the cost curve and the equation looks like this: MC(q)=ΔTC(q)Δq If, on th...If the change in output is discrete, then we are measuring marginal cost from one point to another on the cost curve and the equation looks like this: MC(q)=ΔTC(q)Δq If, on the other hand, we treat the change in output as infinitesimally small, then we use the derivative and we have: MC(q)=dTC(q)dq Because TFC does not vary with q, marginal cost also can be found by taking the derivative of TVC(q) with respect to q.
- https://socialsci.libretexts.org/Bookshelves/Economics/Intermediate_Microeconomics_with_Excel_(Barreto)/04%3A_Compartive_Statics/4.02%3A_More_Practice_with_Engel_CurvesTo solve for the optimal values of x1 and x2, we follow our usual approach, moving the λ terms over to the right-hand side and dividing the two equations to cancel the λs...To solve for the optimal values of x1 and x2, we follow our usual approach, moving the λ terms over to the right-hand side and dividing the two equations to cancel the λs. To compute an own units response in x1* given a change in m, we can simply take the derivative with respect to m, which is zero (because m does not appear in the x1* reduced form).
- https://socialsci.libretexts.org/Bookshelves/Economics/Intermediate_Microeconomics_with_Excel_(Barreto)/10%3A_Production_FunctionFirst, we compute the marginal products of L and K from the function, Y=ALαKβ: MPL=∂Y∂L=αALα−1Kβ \[MP_K = \frac{\partial Y}{\partia...First, we compute the marginal products of L and K from the function, Y=ALαKβ: MPL=∂Y∂L=αALα−1Kβ MPK=∂Y∂K=βALαKβ−1 The TRS is minus the ratio of the marginal products: TRS=−MPLMPK=−αALα−1KββALαKβ−1=−αKβL The A terms cancel out, which means that the ratio of the marginal productivities of each …
- https://socialsci.libretexts.org/Bookshelves/Economics/Intermediate_Microeconomics_with_Excel_(Barreto)/07%3A_Search_Theory
- https://socialsci.libretexts.org/Bookshelves/Economics/Intermediate_Microeconomics_with_Excel_(Barreto)/05%3A_Endowment_Models/5.04%3A_An_Economic_Analysis_of_InsuranceThe OptimalChoice sheet reproduces the Constraint sheet, but it adds the indifference map to the chart and displays the slope of the budget line and the MRS at the bottom of the chart.
