Homework Answers
The correct option is B.) tax is paid by the sellers to the government and is, therefore like a cost of production.
When the cost of production increase, supply curve shift to the left. Thus , sales tax imposed on sellers shift the supply curve leftwards.
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Question 15 (2.5 points) A sales tax imposed on sellers shifts the supply curve leftward for...
The government raises the sales tax on shirts. The tax is imposed on sellers. As a...
The government raises the sales tax on shirts. The tax is imposed on sellers. As a result, the demand curve for shirts becomes horizontal. supply curve of shirts shifts leftward. demand curve for shirts becomes vertical. supply curve of shirts shifts rightward.
2) A. Graphically illustrate a per unit tax imposed on the seller of a product. Identify...
2) A. Graphically illustrate a per unit tax imposed on the seller of a product. Identify the welfare loss and the portion of the tax paid by the buyer and the seller. B. Explain how the elasticities of demand and supply affect the portion of the tax shifted onto the buyer and sellers respectively
The graph shows the supply curve of no-name soda. The government has imposed a sales tax...
The graph shows the supply curve of no-name soda. The government has imposed a sales tax of $2 per case on no-name soda. Price (dollars per case) The sellers of no-name soda end up paying the entire tax. @ O3 Draw and label the demand curve for no-name soda. The more the demand, O A. inelastic; the larger is the amount of the tax paid by sellers O B. elastic; the larger is the amount of the tax paid by...
Price (dollars per case) The graph shows the supply curve of no-name soda. The government has imposed a sales tax of $2...
Price (dollars per case) The graph shows the supply curve of no-name soda. The government has imposed a sales tax of $2 per case on no-name soda. The sellers of no-name soda end up paying the entire tax. Draw and label the demand curve for no-name soda. The more the demand, O A. inelastic; the larger is the amount of the tax paid by sellers O B. elastic; the larger is the amount of the tax paid by sellers O...
QUESTION 4 To an economist, a decrease in supply means a: a. leftward shift of the...
QUESTION 4 To an economist, a decrease in supply means a: a. leftward shift of the supply curve. b. movement up along a supply curve. c movement down along the supply curve. d. rightward shift of the supply curve. QUESTION 5 Consumers will willingly make less-informed decisions: a. whenever acquiring more information requires sacrifice. b. if information costs are less than the perceived benefits of gathering information. c. if information costs are greater than the perceived benefits of gathering information....
QUESTION 12 Figure: The graph below shows a demand curve and four supply curves 1 Price...
QUESTION 12 Figure: The graph below shows a demand curve and four supply curves 1 Price Refer to Figure. If a tax is imposed in the above market then which supply curve will have highest deadweight lossi a. S2 Oc. SA. d.53. QUESTION 18 When boats are taxed and sellers of boats are required to pay the tax to the government, a. there is a movement downward and to the right along the demand curve for boats. Ob the quantity...
Question 18 (1 point) When a tax is placed on the sellers of a product, buyers...
Question 18 (1 point) When a tax is placed on the sellers of a product, buyers pay O a) less, and sellers receive less than they did before the tax. Ob) more, and sellers receive more than they did before the tax. Oc) less, and sellers receive more than they did before the tax. d) more, and sellers receive less than they did before the tax. Question 19 (1 point) If the price elasticity of demand for a good is...
Question 6A Given the following information: Demand: Qd = 200 – 5P Supply: Qs = 5P...
Question 6A Given the following information: Demand: Qd = 200 – 5P Supply: Qs = 5P If a quantity tax of $2 per unit sold is imposed, (a) Considering that the government will earn revenue, overall, do you think that society benefits from such a move Yes or no and why? Explain also effect on Buyer Price? Effect on Seller Price? Effects on Quantity traded? Question 6b Given the following information: Demand: Qd = 200 – 5P Supply: Qs =...
Question 6A Given the following information: Demand: Qd = 200 – 5P Supply: Qs = 5P...
Question 6A Given the following information: Demand: Qd = 200 – 5P Supply: Qs = 5P If a quantity tax of $2 per unit sold is imposed, (a) Considering that the government will earn revenue, overall, do you think that society benefits from such a move? Explain. Yes or No? Buyer Price? Seller Price? Quantity traded? Question 6b Given the following information: Demand: Qd = 200 – 5P Supply: Qs = 5P If a quantity tax of $2 per unit...
please answer these. Thank you. 29. When a tax is placed on the buyers of coffee,...
please answer these. Thank you.
29. When a tax is placed on the buyers of coffee, the buyers bear the entire burden of the tax b. sellers bear the entire burden of the tax burden of the tax will be always be equally divided between the buyers and the sellers d. burden of the tax will be shared by the buyers and the sellers, but the division of the burden is not always equal 30. the government wants to reduce...
The government raises the sales tax on shirts. The tax is imposed on sellers. As a result, the demand curve for shirts becomes horizontal. supply curve of shirts shifts leftward. demand curve for shirts becomes vertical. supply curve of shirts shifts rightward.
2) A. Graphically illustrate a per unit tax imposed on the seller of a product. Identify the welfare loss and the portion of the tax paid by the buyer and the seller. B. Explain how the elasticities of demand and supply affect the portion of the tax shifted onto the buyer and sellers respectively
The graph shows the supply curve of no-name soda. The government has imposed a sales tax of $2 per case on no-name soda. Price (dollars per case) The sellers of no-name soda end up paying the entire tax. @ O3 Draw and label the demand curve for no-name soda. The more the demand, O A. inelastic; the larger is the amount of the tax paid by sellers O B. elastic; the larger is the amount of the tax paid by...
Price (dollars per case) The graph shows the supply curve of no-name soda. The government has imposed a sales tax of $2 per case on no-name soda. The sellers of no-name soda end up paying the entire tax. Draw and label the demand curve for no-name soda. The more the demand, O A. inelastic; the larger is the amount of the tax paid by sellers O B. elastic; the larger is the amount of the tax paid by sellers O...
QUESTION 4 To an economist, a decrease in supply means a: a. leftward shift of the supply curve. b. movement up along a supply curve. c movement down along the supply curve. d. rightward shift of the supply curve. QUESTION 5 Consumers will willingly make less-informed decisions: a. whenever acquiring more information requires sacrifice. b. if information costs are less than the perceived benefits of gathering information. c. if information costs are greater than the perceived benefits of gathering information....
QUESTION 12 Figure: The graph below shows a demand curve and four supply curves 1 Price Refer to Figure. If a tax is imposed in the above market then which supply curve will have highest deadweight lossi a. S2 Oc. SA. d.53. QUESTION 18 When boats are taxed and sellers of boats are required to pay the tax to the government, a. there is a movement downward and to the right along the demand curve for boats. Ob the quantity...
Question 18 (1 point) When a tax is placed on the sellers of a product, buyers pay O a) less, and sellers receive less than they did before the tax. Ob) more, and sellers receive more than they did before the tax. Oc) less, and sellers receive more than they did before the tax. d) more, and sellers receive less than they did before the tax. Question 19 (1 point) If the price elasticity of demand for a good is...
please answer these. Thank you.
29. When a tax is placed on the buyers of coffee, the buyers bear the entire burden of the tax b. sellers bear the entire burden of the tax burden of the tax will be always be equally divided between the buyers and the sellers d. burden of the tax will be shared by the buyers and the sellers, but the division of the burden is not always equal 30. the government wants to reduce...
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