Can i get help with this homework questions for Microeconomics 201. 1. Excise tax on gasoline a. What effect will this have on the demand of gasoline?…

Can i get help with this homework questions for Microeconomics  201.

1. Excise tax on gasoline    a. What effect will this have on the demand of gasoline?     b. what affect will this have on the supply of gasoline

c. based on the new equilibrium  what will happen to the price and quantity demanded on gasoline     d. use a supply and demand graph to show reasoning

2. how does producer and consumer surplus describe the efficiency loses in a competing market. use a supply and demand graph for reasoning.

3. Elasticity. Difference between inelastic/elastic and how it affects total revenue. what is the formula and describe it?

4. Describe the law of diminishing  return. What does it actually diminish and why. provide and example of diminishing return.

5. Difference between marginal product and marginal cost.

a.  how will marginal cost behave as marginal product increases/decreases.

b.  why would marginal cost and average cost always be u-shaped and how does the U-shape relate to economies/dis economies of scale

Can i get help with this homework questions for Microeconomics 201. 1. Excise tax on gasolinea. What effect will this have on the demand of gasoline?An increase in excise duty on gasoline shall…

 
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