Suppose a new law is proposed that would impose tariffs on imported steel. The estimated cost to millions of domestic consumers is $50 billion total, in terms of higher prices for the products they purchase. The estimated benefit to the three major domestic steel producers in the industry is an excess profit of $30 billion due to reduced competition and the ability to charge higher prices. From the standpoint of economic efficiency, this tariff is economically . (efficent/Inefficent)
Passing the tariff would create ( Concentrated benefits and widespread cost/widespread benefits and concentrated costs/widespread benefits and widespread cost/ concentrated benefits and concentrated cost)
Because the small number of domestic producers would be willing to spend up to(in expenditures50,10,30,20 billion) to lobby the government in favor of the law, while the millions of consumers would likely either not know about the policy or would not find it worthwhile to lobby, this special interest issue would probably (pass/fail) if subjected to political decision making.

How supply and demand work together to reach the equilibrium price in the marketplace? give at least a paragraph. you!

Oakmont company has an opportunity to manufacture and sell a new product for a four-year period. the company’s discount rate is 18%. after careful study, oakmont estimated the following costs and revenues for the new product: cost of equipment needed $ 230,000 working capital needed $ 84,000 overhaul of the equipment in year two $ 9,000 salvage value of the equipment in four years $ 12,000 annual revenues and costs: sales revenues $ 400,000 variable expenses $ 195,000 fixed out-of-pocket operating costs $ 85,000 when the project concludes in four years the working capital will be released for investment elsewhere within the company. click here to view exhibit 12b-1 and exhibit 12b-2, to determine the appropriate discount factor(s) using tables.

Areal estate agent is considering changing her cell phone plan. there are three plans to choose from, all of which involve a monthly service charge of $20. plan a has a cost of $.42 a minute for daytime calls and $.17 a minute for evening calls. plan b has a charge of $.52 a minute for daytime calls and $.15 a minute for evening calls. plan c has a flat rate of $80 with 275 minutes of calls allowed per month and a charge of $.38 per minute beyond that, day or evening.a. determine the total charge under each plan for this case: 150 minutes of day calls and 70 minutes of evening calls in a month. (do not round intermediate calculations. round your answer to 2 decimal places. omit the "$" sign in your response.)c. if the agent will use the service for daytime calls, over what range of call minutes will each plan be optimal? (round each answer to the nearest whole number.include the indifference point itself in each answer.)d. suppose that the agent expects both daytime and evening calls. at what point (i.e., percentage of total call minutes used for daytime calls) would she be indifferent between plans a and b?