Homework Answers
Price consumers pay for milk
Note that when tax is imposed on a product, there is a wedge created between what sellers receive and what buyers pay, in that buyers price increases and sellers price decreases, the difference being equal to the size of tax.
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Question 43 2 pts A tax on milk would likely cause an increase in the O...
Di lapplied to all good or activity D usually applied to income and capital gains. Question...
Di lapplied to all good or activity D usually applied to income and capital gains. Question 43 2 pts A tax on milk would likely cause an increase in the O price consumers pay for milk. O revenues earned from selling milk O price producers receive for mil O profits earned by selling milk O amount of milk sold. Question 44 2 pts
Question 41 2 pts A tax on apples would cause apple growers to suffer because O...
Question 41 2 pts A tax on apples would cause apple growers to suffer because O producer surplus would incre O the government would collect revenue from the tax. O consumers would pay higher prices. O revenues and profits from growing apples would decrease. O consumer surplus would decrease. Question 42 2 pts Excise taxes are taxes that are.
Question 44 2 pts The net cost to society from the imposition of a tax is...
Question 44 2 pts The net cost to society from the imposition of a tax is also known as O producer surplus. O tax revenue. O consumer surplus. O social welfare. O deadweight loss. Question 45 2 pts
Do you care whether a 15c tax per gallon of milk is collected from milk producers...
Do you care whether a 15c tax per gallon of milk is collected from milk producers or from consumers at the store? Why? As a consumer, you O A. do not care how the tax is applied because the after-tax price will be the same. O B. do not care how the tax is applied because consumer incidence is always zero. O C. do not care how the tax is applied because consumer incidence is only determined by the elasticity...
ULICE Question 39 (2.5 points) A tax on orange juice would cause the price paid by...
ULICE Question 39 (2.5 points) A tax on orange juice would cause the price paid by consumers to ______ price received by producers to and the 1) increase; increase O2) increase; decrease 3) decrease; increase 4) decrease; decrease Question 40 (2.5 points) Table 2: Chips M arginal Consumed Utility Soda Consumed Marginal Utility
O an increase in the income of consumers of oranges D | Question 28 2 pts...
O an increase in the income of consumers of oranges D | Question 28 2 pts When the government places a tax on a good and all else is held constant, which of the following would most likely happen? O The government receives no tax revenue if the tax is more than 20 percent. O The overall consumption of the good decreases, assuming the good does not have a vertical demand curve. O The price and quantity adjust back to...
substitutes. DQuestion 46 2 pts If a tax is imposed on a good with equally elastic...
substitutes. DQuestion 46 2 pts If a tax is imposed on a good with equally elastic supply and demand, the burden of the tax will be borne O by producers alone. y by producers but partially by consumers O mostly by consumers but partially by producers. O by consumers alone. O by consumers and producers equally. D Question 47 2 pts When demand is perfectly elastic, the demand curve is
please answer all Question 22 2.5 pts Which of the following will not cause the supply...
please answer all
Question 22 2.5 pts Which of the following will not cause the supply curve to shift? A technological change in the production of the good A change in the prices of other goods that producers could be producing A change in the costs of resources needed to produce the good A change in the price of the good 2.5 pts Question 23 A fall in the price of milk, used in the production of ice cream, will:...
in the market for natural gas which of the following would cause an increase QUESTION 2...
in the market for natural gas which of the following would
cause an increase
QUESTION 2 In the market for natural gas, which of the following would cause an increase in equilibrium quantity combined with a decrease in equilibrium price? (Choose all that apply) An increase in the cost of equipment needed to extract natural gas. An increase in the number of producers in the industry An increase in the income of buyers of natural gas. A decrease in the...
Di lapplied to all good or activity D usually applied to income and capital gains. Question 43 2 pts A tax on milk would likely cause an increase in the O price consumers pay for milk. O revenues earned from selling milk O price producers receive for mil O profits earned by selling milk O amount of milk sold. Question 44 2 pts
Question 41 2 pts A tax on apples would cause apple growers to suffer because O producer surplus would incre O the government would collect revenue from the tax. O consumers would pay higher prices. O revenues and profits from growing apples would decrease. O consumer surplus would decrease. Question 42 2 pts Excise taxes are taxes that are.
Question 44 2 pts The net cost to society from the imposition of a tax is also known as O producer surplus. O tax revenue. O consumer surplus. O social welfare. O deadweight loss. Question 45 2 pts
Do you care whether a 15c tax per gallon of milk is collected from milk producers or from consumers at the store? Why? As a consumer, you O A. do not care how the tax is applied because the after-tax price will be the same. O B. do not care how the tax is applied because consumer incidence is always zero. O C. do not care how the tax is applied because consumer incidence is only determined by the elasticity...
ULICE Question 39 (2.5 points) A tax on orange juice would cause the price paid by consumers to ______ price received by producers to and the 1) increase; increase O2) increase; decrease 3) decrease; increase 4) decrease; decrease Question 40 (2.5 points) Table 2: Chips M arginal Consumed Utility Soda Consumed Marginal Utility
O an increase in the income of consumers of oranges D | Question 28 2 pts When the government places a tax on a good and all else is held constant, which of the following would most likely happen? O The government receives no tax revenue if the tax is more than 20 percent. O The overall consumption of the good decreases, assuming the good does not have a vertical demand curve. O The price and quantity adjust back to...
substitutes. DQuestion 46 2 pts If a tax is imposed on a good with equally elastic supply and demand, the burden of the tax will be borne O by producers alone. y by producers but partially by consumers O mostly by consumers but partially by producers. O by consumers alone. O by consumers and producers equally. D Question 47 2 pts When demand is perfectly elastic, the demand curve is
please answer all
Question 22 2.5 pts Which of the following will not cause the supply curve to shift? A technological change in the production of the good A change in the prices of other goods that producers could be producing A change in the costs of resources needed to produce the good A change in the price of the good 2.5 pts Question 23 A fall in the price of milk, used in the production of ice cream, will:...
in the market for natural gas which of the following would
cause an increase
QUESTION 2 In the market for natural gas, which of the following would cause an increase in equilibrium quantity combined with a decrease in equilibrium price? (Choose all that apply) An increase in the cost of equipment needed to extract natural gas. An increase in the number of producers in the industry An increase in the income of buyers of natural gas. A decrease in the...
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