Category: Economics

The amount of tax revenue received by the government is$5.$2.50.$4.$9.

➤ Why did Parliament pass the Coercive Acts?
Parliament aimed to punish colonial resistance, enforce British trade and customs laws, and protect the East India Company and Crown authority. Leaders like Lord North sought to deter further protests, reassert parliamentary sovereignty, and recover lost revenue after the Tea Act protests and the destruction of tea in Boston Harbor.

Explain the physical factors associated with consumer buying behavior.

What is the level of output that maximizes its profit at P = 20?

➤ How do you compute the marginal utilities for this utility function?
Take partial derivatives holding the other good constant. For u(x,y)=20x²+8y, ∂u/∂x = 40x because d(20x²)/dx = 40x. And ∂u/∂y = 8 because d(8y)/dy = 8. These values give the marginal benefit from an extra unit of each good.