Consider the perfectly competitive wheat sector in Pakistan. To begin with, consider that the economy is closed to trade. The government imposes a consumption tax of $10 per unit, consumers pay $20 per unit and the equilibrium quantity sold is 10,000 units. Demand elasticity is 2 and supply elasticity is 1. The government then removes the consumption tax. What would be the autarky consumption and production levels in this economy (10 points)

The management of a supermarket wants to adopt a new promotional policy of giving a free gift to every customer who spends > a certain amount per visit at this supermarket. the expectation of the management is that after this promotional policy is advertised, the expenditures for all customers at this supermarket will be normally distributed with a mean of $95 and a standard deviation of $20. if the management wants to give free gifts to at most 10% of the customers, what should the amount be above which a customer would receive a free gift?

Using the smith's bbq report, the cost of wine for next week will increase by 2% from the current week. if all other cost of sales stays constant, what will be the approximate total cost of sales for next week?

Predict how the price of athletic shorts would change if schools banned their use