Order ID:89JHGSJE83839 Style:APA/MLA/Harvard/Chicago Pages:5-10 Instructions:
Accounting 1. Assume an economy with 10 individuals with identical preferences: U (C,M) = 0.25log C + 0.75log M , with C-cigarettes and M-apples. Initially there is no tax on the goods in this economy and the price of a cigarette is 0.5. Suppose that the supply elasticity of cigarettes as well as of apples is 2 and that each individual has a fixed income of 100. a) The government, having decided to discourage cigarette smoking, imposes a tax of 0.5 per unit consumed. What is the consumer surplus loss resulting from that tax? What is the deadweight loss of tax revenue? What is the relationship between the deadweight loss and tax revenue? What is the relationship between marginal deadweight loss and marginal tax revenue? b) If the price of apples is 2, what is the optimal tax on apples suggested by Ramsey Rule? c) Suppose now that there is a negative externality associated with the cigarette smoke of 0.25 per packet and that the supply is perfectly elastic. Recalculate the
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Excellent Quality
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Introduction 45-41 points
The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.
Literature Support
91-84 points
The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.
Methodology
58-53 points
Content is well-organized with headings for each slide and bulleted lists to group related material as needed. Use of font, color, graphics, effects, etc. to enhance readability and presentation content is excellent. Length requirements of 10 slides/pages or less is met.
Average Score
50-85%
40-38 points
More depth/detail for the background and significance is needed, or the research detail is not clear. No search history information is provided.
83-76 points
Review of relevant theoretical literature is evident, but there is little integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are included. Summary of information presented is included. Conclusion may not contain a biblical integration.
52-49 points
Content is somewhat organized, but no structure is apparent. The use of font, color, graphics, effects, etc. is occasionally detracting to the presentation content. Length requirements may not be met.
Poor Quality
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37-1 points
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75-1 points
Review of relevant theoretical literature is evident, but there is no integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are not included in the summary of information presented. Conclusion does not contain a biblical integration.
48-1 points
There is no clear or logical organizational structure. No logical sequence is apparent. The use of font, color, graphics, effects etc. is often detracting to the presentation content. Length requirements may not be met
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