Homework Answers
Ans: Less than $36,000
Explanation:
From the graph it is seen that if $4 per ubut tax is imposed, the quantity will less than 9,000 units.
As we know. Tax revenue = Per unit tax * Quantity
Therefore, the tax revenue will be less than $36,000 (i.e., $4 * 9,000)
Add Answer to:
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You are also considering imposing a tax per unit of $5 to be imposed on the consumption of soda beverages. What will be the new equilibrium quantity, price paid by the students (demand), and price received by the soda beverage supplier. What is the tax burden per unit on consumer and on the supplier, and what is the tax revenue collected by the government? Consider P=30-Q as demand and P=4Q as supply. (calculation only)
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Please help with these questions.. thank you.
Price ($/unit) Supply Demand OL 10 11 12 13 17 Quantity (units) 18. Refer to Figure 1. Suppose a tax of $6 per unit is imposed on sellers in this market. What is the total loss of consumer surplus resulting from this tax? a $18 b. $32 C. $36 d. $48 19. Refer to Figure 1. Suppose a tax of $6 per unit is imposed on sellers in this market. Which is correct?...
Question 42 Price (dollars per case) $33.25 Supply with tax 27 Supply Тах- 22 20 Demand Quantity (thousands of case...
Question 42 Price (dollars per case) $33.25 Supply with tax 27 Supply Тах- 22 20 Demand Quantity (thousands of cases) 50 90 The figure above shows the market for beer. The government plans to impose a per-unit tax in this market. How much of the tax is paid by sellers? e $2 $5 $7 $12 $1
I need help solving this Asap. thanks alot. Figure 1: Supply and Demand in the Market...
I need help solving this Asap. thanks alot.
Figure 1: Supply and Demand in the Market for a Good Price ($/unit) 35 27 Supply 23 19 15 13 11 9 Demand 5 13 17 Quantity (units) 11 12 10 8 6 14. Refer to Figure 1. At the market equilibrium, total consumer surplus is $10 b. $50 а. $100 d. $200 15. Refer to Figure 1. Holding the supply curve fixed, assume demand increased, which caused the equilibrium price to...
The following figure illustrates a standard market-demand curve and market-supply curve, with price per unit measured...
The following figure illustrates a standard market-demand curve and market-supply curve, with price per unit measured on the vertical axis and quantity measured on the horizontal axis. Price Demand Supply 0 1 2 3 4 5 6 7 8 9 10 Quantity Figure Description: Quantity demanded and quantity supplied is measured on the horizontal axis and price per unit is measured on the vertical axis. One downward sloping demand curve is provided and is labeled Demand. One upward sloping supply...
suppose the market demand supply are given by p=160-2q and p=50+3q. a per unit excise tax...
suppose the market demand supply are given by p=160-2q and p=50+3q. a per unit excise tax of 10$ is levied on the sellers. what is the list social welfare deadweight loss due to the tax?
Price Controls and Taxes: Price A P Supply 2 в Е н G Demand Quantity 0 23) In the figure shown above, if pri...
Price Controls and Taxes: Price A P Supply 2 в Е н G Demand Quantity 0 23) In the figure shown above, if prices go from P1 to P3, what could this be due to? There is a tax imposed on suppliers per unit sold. Demand for the good increases due to an increase in people's incom5. There is a sales tax imposed on consumers. d. a. b. с. a binding price floor is imposed Both c and d are...
The demand curve for gasoline is given by P= 18 -0.01Q where Q is a gallon of gasoline. A per-unit tax of $2 is imp...
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1. The market for a product has inverse demand and supply functions given by p=290 -...
1. The market for a product has inverse demand and supply functions given by p=290 - 20, and p = 10 + 1.5Q, e. Suppose the state government levies a tax of $45 on each unit sold, imposed on the sellers. Draw the new Supply curve on (c) and label it S2. Write out the new Supply equation and find the new after-tax equilibrium quantity traded in the market. What is the price that consumers pay on the market (Pc)....
QUESTION 25 Figure: The figure below indicates a tax size of AB. 1 Price + Supply...
QUESTION 25 Figure: The figure below indicates a tax size of AB. 1 Price + Supply + + Demand + + + + + + + + + + 5 10 15 20 25 30 35 40 45 50 55 60 Quantity Refer to Figure 8-7. Which of the following statements is true about tax incidence? a. Buyers pays less tax then the sellers b. Buyers and sellers share the same burden of tax. C. Buyers and sellers both will...
Please help with these questions.. thank you.
Price ($/unit) Supply Demand OL 10 11 12 13 17 Quantity (units) 18. Refer to Figure 1. Suppose a tax of $6 per unit is imposed on sellers in this market. What is the total loss of consumer surplus resulting from this tax? a $18 b. $32 C. $36 d. $48 19. Refer to Figure 1. Suppose a tax of $6 per unit is imposed on sellers in this market. Which is correct?...
Question 42 Price (dollars per case) $33.25 Supply with tax 27 Supply Тах- 22 20 Demand Quantity (thousands of cases) 50 90 The figure above shows the market for beer. The government plans to impose a per-unit tax in this market. How much of the tax is paid by sellers? e $2 $5 $7 $12 $1
I need help solving this Asap. thanks alot.
Figure 1: Supply and Demand in the Market for a Good Price ($/unit) 35 27 Supply 23 19 15 13 11 9 Demand 5 13 17 Quantity (units) 11 12 10 8 6 14. Refer to Figure 1. At the market equilibrium, total consumer surplus is $10 b. $50 а. $100 d. $200 15. Refer to Figure 1. Holding the supply curve fixed, assume demand increased, which caused the equilibrium price to...
The following figure illustrates a standard market-demand curve and market-supply curve, with price per unit measured on the vertical axis and quantity measured on the horizontal axis. Price Demand Supply 0 1 2 3 4 5 6 7 8 9 10 Quantity Figure Description: Quantity demanded and quantity supplied is measured on the horizontal axis and price per unit is measured on the vertical axis. One downward sloping demand curve is provided and is labeled Demand. One upward sloping supply...
Price Controls and Taxes: Price A P Supply 2 в Е н G Demand Quantity 0 23) In the figure shown above, if prices go from P1 to P3, what could this be due to? There is a tax imposed on suppliers per unit sold. Demand for the good increases due to an increase in people's incom5. There is a sales tax imposed on consumers. d. a. b. с. a binding price floor is imposed Both c and d are...
The demand curve for gasoline is given by P= 18 -0.01Q where Q is a gallon of gasoline. A per-unit tax of $2 is imposed on the consumers. After paying the tax, their remaining marginal willingness to pay is represented by [Select] The new price that sellers receive is (Select] compared to the original market price of gasoline, and the new price that consumers pay (with the tax) is [Select ] compared the original market price of gasoline. If the...
1. The market for a product has inverse demand and supply functions given by p=290 - 20, and p = 10 + 1.5Q, e. Suppose the state government levies a tax of $45 on each unit sold, imposed on the sellers. Draw the new Supply curve on (c) and label it S2. Write out the new Supply equation and find the new after-tax equilibrium quantity traded in the market. What is the price that consumers pay on the market (Pc)....
QUESTION 25 Figure: The figure below indicates a tax size of AB. 1 Price + Supply + + Demand + + + + + + + + + + 5 10 15 20 25 30 35 40 45 50 55 60 Quantity Refer to Figure 8-7. Which of the following statements is true about tax incidence? a. Buyers pays less tax then the sellers b. Buyers and sellers share the same burden of tax. C. Buyers and sellers both will...
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