6. If the demand function for a certain product is p = -69 + 350 and...
If the demand function for a certain product is p = -69 + 350 and the supply function is p = 49 + 25, find the tax per item that will maximize the total tax revenue and find the maximum tax revenue.
If the demand function for a certain product is p =-6q+ 350 and the supply function is p = 4q + 25, find the tax per item that will maximize the total tax revenue and find the maximum tax revenue. 7. When price changes cause significant changes in demand, the demand is said to be for that product and if price changes cause relatively little change in demand, the demand is said to be for that product 8 If the...
If the monthly demand function is p = 8,500 - 6q2 and the supply function be taxation is p = 25+ 30q, what tax per item will maximize the total tax revenue Supply function after taxation = p= 25 + 3092 + t 25 + 3092 + t = 8500 - 697 2. For the following demand equation, p(q) = 10 - 0.22366 find the revenue equation, use calculus to find where the revenue is increasing and decreasing, sketch the...
4) If the demand function for a fixed period of time is p = 2100 – 39 and the supply function before taxation is p=300 +1.5q, what tax per item will maximize the total tax revenue? What is the maximum tax revenue! I
6. (20 points) The demand equation for a certain types of shoes is given by p100e-0.0 where p is the price in dollars and q is the quantity of pair of shoes sold per month with 0 S 4 5 200 Find the valuc of a that will maximize the revenue. and aptotu re 6. Page 4 6. (20 points) The demand equation for a certain types of shoes is given by p100e-0.0 where p is the price in dollars...
Suppose the supply function for a product is p = .1q2 + 1 and the demand function is p = 85 -.2q -.1q2 where p is the price and q is the quantity. Find the equilibrium price and quantity.
Q5 (6 pts). Given the following linear supply and demand in standard form Supply:-2P + 4Q =-12 Demand: 5P +200 150 Find the inverse linear demand and supply [Price as a function of Quantity Q f(P)], the equilibrium price [P*] and quantity [Q1. Graph the demand, supply and the equilibrium point (P* and Q) in the supply-demand diagram Choose the correct answer (Showing the appropriate steps) a) Supply: P 20 6, Demand: P40 30, P 14,Q4 b) Supply: P-4-3, D...
5.1 If the inverse demand function for books is p 60 q and the supply function is q p,what is the initial equilibrium? What is the welfare effect of a specific tax of t = $2 per unit on the equilib- rium, CS, PS, welfare, and DWL? M
3. A certain product has a supply function of p=49+5 and a demand function of p= -29 +95. If the price is $53, how many units are supplied and how many are demanded? ii) Does this give a shortfall or a surplus? Is the price likely to increase or decrease?
The supply curve for a certain industry is given by S(p) = p−3 and demand by D(p) = 33 − 3p. 5. A tax is levied at the rate of $2 per unit. What are the new buyer and seller prices, pb, ps, and the new quantity q? Which price changed more? 6. What is the total tax revenue and the producer and consumer surplus under this tax? What is the deadweight loss (DWL)? 7. If the tax doubles from...