Explain intuitively why consumers are always happier for any given amount of total tax revenue if...
Explain intuitively why consumers are always happier for any given amount of total tax revenue if it is financed with similar tax rates on all items, rather than taxing only certain items.
Homework Answers
When tax is imposed on certain items, consumers feel that only a few people are liable to pay the tax and all will enjoy the benefits of such tax. Thus, few consumers who pay the tax do not feel happier since benefits are distributed to such people who even do not pay the tax.
Furthermore, if taxes are paid by all members, then people would not feel the pinch of tax as these costs and benefits of taxation are distributed equally over the people.
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Explain intuitively why consumers are always happier for any
given amount of total tax revenue if...
(a) Using the graph of a demand curve, intuitively explain why marginal revenue is always less th...
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Use the Law of Demand to explain why all consumers must receive a surplus whenever they...
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For any given tax, the revenue generated is: larger in markets with price-elastic demand and supply....
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4 Explain intuitively why Z[V2] Z[V3]. Back your intuition with a proof. [Note: this example not...
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For tax purposes, "gross income" is all the money a person receives in a given year from any sour...
If any could please help with
question E & F
Answer for Question C is $37,500
For tax purposes, "gross income" is all the money a person receives in a given year from any source. But income taxes are levied or "taxable income" rather than gross income. The difference between the two is the result of many exemptions and deductions. To see how they work, suppose you made $50,000 last year in wages, earned $10,000 from investments, and were given...
explain the difference between fixed and floating exchange rates 10. Why does total revenue vary directly with price, if the demand is relatively price inelastic? Explain the relationships betwee...
explain the difference between fixed and floating exchange
rates
10. Why does total revenue vary directly with price, if the demand is relatively price inelastic? Explain the relationships between elasticity, price, and revenue
10. Why does total revenue vary directly with price, if the demand is relatively price inelastic? Explain the relationships between elasticity, price, and revenue
Table 2 Shows Media Cable’s demand table, total revenue, and marginal revenue at each price. Why,...
Table 2 Shows Media Cable’s demand table, total revenue, and marginal revenue at each price. Why, at any price lower than $130, is the marginal revenue from an additional sale less than the price? Table 2 Price Amount Demanded Total Revenue Marginal Revenue $160 0 $0 n/a $130 90 $11,700 $130.00 $100 200 $20,000 $75.45 $80 350 $28,000 $53.33 $40 600 $24,000 -$16.00 $0 850 $0 -$96 .00 Question 5 options: a) Lowering the price means that Media Cable lowers...
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3. Total and average revenue of a monopolist Аа аа Suppose that Manuel Stein is the...
3. Total and average revenue of a monopolist Аа аа Suppose that Manuel Stein is the only seller of kumquats in a small town. The following graph shows the demand and marginal revenue (MR) curves facing Manuel. You can use the red rectangle labeled Total Revenue (cross symbols) to compute total revenue at various prices along the demand curve. To see the area of the Total Revenue rectangle, scroll over the shaded area with your mouse. You will not be...
4 Explain intuitively why Z[V2] Z[V3]. Back your intuition with a proof. [Note: this example not only says that a +bv2 a +bv3 is not an isomorph ism. It says that no isomorphism can be found at all-no matter how clever a choice of mapping you might try to make.] Hint; Intuition: ZV2] has an element whose square is 1+1 (i.e. 2); Z[3] surely hasn't? Proof: For any isomorphism 0 we'd have 0(1)-1 hence (2)=2. Suppose 02)=a+ b/3. Then 2=(a+b/3)
If any could please help with
question E & F
Answer for Question C is $37,500
For tax purposes, "gross income" is all the money a person receives in a given year from any source. But income taxes are levied or "taxable income" rather than gross income. The difference between the two is the result of many exemptions and deductions. To see how they work, suppose you made $50,000 last year in wages, earned $10,000 from investments, and were given...
explain the difference between fixed and floating exchange
rates
10. Why does total revenue vary directly with price, if the demand is relatively price inelastic? Explain the relationships between elasticity, price, and revenue
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Although the foundation of any tax system is the raising of revenue, additional tax policy objectives are: * Economic considerations such as control of the economy, encouragement of certain activities and industries, and encouragement of small business * Social considerations such as non-taxability of certain employee benefits, educational credits and deductions, disallowance of expenditures contrary to public policy, and discouragement of certain behaviors *Equity considerations such as alleviating the effects of multiple taxation and recognizing the wherewithal to pay concept....
3. Total and average revenue of a monopolist Аа аа Suppose that Manuel Stein is the only seller of kumquats in a small town. The following graph shows the demand and marginal revenue (MR) curves facing Manuel. You can use the red rectangle labeled Total Revenue (cross symbols) to compute total revenue at various prices along the demand curve. To see the area of the Total Revenue rectangle, scroll over the shaded area with your mouse. You will not be...
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