Q) A Tax is placed fully on the sellers of a good. If the demand for...
Q) A Tax is placed fully on the sellers of a good. If the demand for the good is perfectly inelastic, who ends up paying the tax? Explain and diagrammatically represent your answer
Will be greatly appreciated if the answer is in 5sentences and by your own.
Homework Answers
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Q) A Tax is placed fully on the sellers of a good. If the demand
for...
Diagrammatically represent a perfectly competitive firm that is incurring short-run losses. But still is better off...
Diagrammatically represent a perfectly competitive firm that is incurring short-run losses. But still is better off continuing to produce than shutting down. Would be greatly appreciated if answered in 5sentences and by your own written, not copy and paste please.
When the government decides to impose a tax on sellers of a good or service, sellers...
When the government decides to impose a tax on sellers of a good or service, sellers try to pass the tax on to consumers by raising the price of the good being sold. Assume the government decides to place a $1 tax on each unit of a good sold, e.g., tires. Using the simple model of supply and demand, describe what would happen to the price and quantity of tires sold. Would the amount of tax paid by the consumer...
Q. 1. Suppose both supply and demand in a market are relatively inelastic. Will a tax...
Q. 1. Suppose both supply and demand in a market are relatively inelastic. Will a tax placed on the product in market generate a relatively large or small deadweight loss? Why? Q. 2. If the world price of a good exceeds the domestic price of the good, will the country export or import the good. In this scenario who gain from free trade: Domestic consumers or Domestic producers? Explain.
If the demand for a good is perfectly elastic, then a tax on the good will...
If the demand for a good is perfectly elastic, then a tax on the good will be paid O A. completely by the buyers. OB. completely by the sellers. O C. equally by the buyers and sellers. OD. mostly but not completely by the buyers. O E. mostly but not completely by the sellers.
Who bears the tax burden if the demand curve is perfectly elastic? a. Sellers b. Buyers...
Who bears the tax burden if the demand curve is perfectly elastic? a. Sellers b. Buyers c. Government d. Both sellers and buyers
H) Compare the individual demand curve and marginal revenue curve for company under perfect competition as...
H) Compare the individual demand curve and marginal revenue curve for company under perfect competition as well as monopoly. I would be greatly appreciated if the answer is in 5sentences and by your own thank you.
Tax Problem: Suppose the demand curve for a good is given by Q D = 10...
Tax Problem:
Suppose the demand curve for a good is given by Q D = 10 - 2P and
the supply curve is given by
Q S = -2 + P.
a) (4 points) Find the equilibrium price and quantity in the
absence of any government intervention.
b) (6 points) Now suppose the government imposes a tax of t = 3.
Find the new equilibrium price at
which the good is sold in the market and the quantity of the...
Q) Do you think Monopoly business practice is so bad for the general public's welfare? why?...
Q) Do you think Monopoly business practice is so bad for the general public's welfare? why? or why not? Explain based on cost and benefit analysis of social welfare. Would be greatly appreciated if the answered in 5sentences by your own, not copy and pasted
Q) The supply of a good declines. Will total revenue after the decline in supply be...
Q) The supply of a good declines. Will total revenue after the decline in supply be greater than, less than, or equal to total revenue before the decline in supply? Explain your answer. Would be greatly appreciated if the answered in 5senteces by your own, not copy and paste one
The profit-maximizing (or loss-minimizing) perfectly competitive firm will want to produce the quantity of output at...
The profit-maximizing (or loss-minimizing) perfectly competitive firm will want to produce the quantity of output at which the difference between MR and MC is greatest, DO you agree or disagree with this statement? Explain your answer, Would be greatly appreciated answered in 5sentences by your own, not copy and pasted please.
If the demand for a good is perfectly elastic, then a tax on the good will be paid O A. completely by the buyers. OB. completely by the sellers. O C. equally by the buyers and sellers. OD. mostly but not completely by the buyers. O E. mostly but not completely by the sellers.
Tax Problem:
Suppose the demand curve for a good is given by Q D = 10 - 2P and
the supply curve is given by
Q S = -2 + P.
a) (4 points) Find the equilibrium price and quantity in the
absence of any government intervention.
b) (6 points) Now suppose the government imposes a tax of t = 3.
Find the new equilibrium price at
which the good is sold in the market and the quantity of the...
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