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![New cost New P.S + tax revenue New total wel welfare tafter tax) 2 (22-26). 9] +43 (12-0)-a? +7(26-21)-9) 5 27 + 99 + 36 $162](http://img.homeworklib.com/questions/a3bb7c40-ecca-11ea-9252-3121bbc9879e.png?x-oss-process=image/resize,w_560)
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What is the total welfare after a $4 tax? P 32 Supply 26 X 24.-- 22-----...
1.(32 pts. Consider the following equations describing the market for good X Demand: =4- Supply: -p-2...
1.(32 pts. Consider the following equations describing the market for good X Demand: =4- Supply: -p-2 Equilibrium: q-q=9 a. Find the inverse domand and supply equations. (4 pts.) b. Algebraically find the equilibrium price (p) and quantity (q) of good X. (4 pies) c. Carefully and nearly draw the inverse supply and demand curves you found in purta. In constructing your graph, use the following values of : 0.2 and 4 i.e., coordinates (9), (2.__): (4. ): ctc.). Be sure...
The market supply in a competitive industry is p = Q and demand is p =...
The market supply in a competitive industry is p = Q and demand is p = 100 - Q. Production creates pollution with a social cost of $1 per unit of output. In response to environmentalists, the government creates a tax of $2 per unit. (a) (9 points) Calculate the price and quantity for the competitive equilibrium, the social optimum, and the equilibrium with the tax. (b) (9 points) Show these three points in a graph. Calculate the consumer surplus,...
2. Welfare effects of a specific tax. The inverse demand and supply for a product is...
2. Welfare effects of a specific tax. The inverse demand and supply for a product is given by p = 60 Q, and p Q,respectively. Find the consumer and produce surplus at equilibrium. Now assume a specific tax oft = 2 that is assessed on the sale of each unit sold. Find the changes in CS, PS, and tax revenue а. b. What is the incidence of the tax? с. Determined the Deadweight Loss (DWL) from the tax In this...
Figure 1. Price $ Supply (after tax) Supply (before tax) Demand 75 100 Quantity of Cigarettes 12. In Figure 1, the...
Figure 1. Price $ Supply (after tax) Supply (before tax) Demand 75 100 Quantity of Cigarettes 12. In Figure 1, the tax is being levied to the a. Third party b. Buyer c. Government d. None of the above curve is unchanged. 13. The curve shifts to the left after tax but a. Demand; supply b. Supply; demand c. Supply, supply d. Demand; demand 14. The amount of tax is a. $1 b. $3 c. $2 d. $4 15. The...
If a tax is levied on the sellers of a product in the supply curve will...
If a tax is levied on the sellers of a product in the supply
curve will
Supply + + + + + + Demand 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 Quantity Refer to Figure 7-19. At the equilibrium price, total surplus is a. $125. b. $450. c. $500. d. $250 Click Save and Submit to save and submit. Click Save All Answers to save...
what is the deadweight loss after the tax? I know 24 is the optimal tax. Question...
what
is the deadweight loss after the tax? I know 24 is the optimal
tax.
Question 3: Negative Externalities Suppose that a factory sells tchotchkes to the people of City A. The inverse demand for the tchotchkes is P = 240 - 90d while the inverse supply curve is P = 3Qs. However, the factory is upstream of City A, and production of tchotchkes creates water pollution. Marginal damages from production are MD = 24. C. Suppose the government levies...
QUESTION 3 Figure Price Supply P K I P" P B M N Demand Quantity Refer...
QUESTION 3 Figure Price Supply P K I P" P B M N Demand Quantity Refer to Figure. If the government imposes a tax size of P- P" in the above market then the area L+M+Y represents a. consumer surplus after the tax. producer surplus after the tax. Cconsumer surplus before the tax. producer surplus before the tax. QUESTION 4 4 point Figure Supply Dennd Quantity Q1 02 Q3 Q Qs Refer to Figure. If the government impose a tax...
5.1 If the inverse demand function for books is p 60 q and the supply function...
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
Given the following inverse demand and supply equations: P = 24 - 6 Q P =...
Given the following inverse demand and supply equations: P = 24 - 6 Q P = 4 Q 1. What is the before tax equilibrium quantity 2. What is the before tax equilibrium price 3. If the government imposes a per unit tax on each item, assuming the producers pay the tax, what is the new equilibrium quantity if the per unit tax is 3? 4. Given the change in part 3, what is the new equilibrium price 5. What...
old price= $22 new price= $23.35 total tax = $4 tax on buyer =$1.35 tax on...
old price= $22
new price= $23.35
total tax = $4
tax on buyer =$1.35
tax on seller =$2.65
old quantity = 70
new quantity = 57
34 S 30 26 Price 22 18 14 10 20 30 40 50 60 70 80 90 100 Quantity After the tax, how much revenue does the firm get to keep (subtract the tax from the revenue) $1,111 $1,205 $1070 $1,365
1.(32 pts. Consider the following equations describing the market for good X Demand: =4- Supply: -p-2 Equilibrium: q-q=9 a. Find the inverse domand and supply equations. (4 pts.) b. Algebraically find the equilibrium price (p) and quantity (q) of good X. (4 pies) c. Carefully and nearly draw the inverse supply and demand curves you found in purta. In constructing your graph, use the following values of : 0.2 and 4 i.e., coordinates (9), (2.__): (4. ): ctc.). Be sure...
2. Welfare effects of a specific tax. The inverse demand and supply for a product is given by p = 60 Q, and p Q,respectively. Find the consumer and produce surplus at equilibrium. Now assume a specific tax oft = 2 that is assessed on the sale of each unit sold. Find the changes in CS, PS, and tax revenue а. b. What is the incidence of the tax? с. Determined the Deadweight Loss (DWL) from the tax In this...
Figure 1. Price $ Supply (after tax) Supply (before tax) Demand 75 100 Quantity of Cigarettes 12. In Figure 1, the tax is being levied to the a. Third party b. Buyer c. Government d. None of the above curve is unchanged. 13. The curve shifts to the left after tax but a. Demand; supply b. Supply; demand c. Supply, supply d. Demand; demand 14. The amount of tax is a. $1 b. $3 c. $2 d. $4 15. The...
If a tax is levied on the sellers of a product in the supply
curve will
Supply + + + + + + Demand 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 Quantity Refer to Figure 7-19. At the equilibrium price, total surplus is a. $125. b. $450. c. $500. d. $250 Click Save and Submit to save and submit. Click Save All Answers to save...
what
is the deadweight loss after the tax? I know 24 is the optimal
tax.
Question 3: Negative Externalities Suppose that a factory sells tchotchkes to the people of City A. The inverse demand for the tchotchkes is P = 240 - 90d while the inverse supply curve is P = 3Qs. However, the factory is upstream of City A, and production of tchotchkes creates water pollution. Marginal damages from production are MD = 24. C. Suppose the government levies...
QUESTION 3 Figure Price Supply P K I P" P B M N Demand Quantity Refer to Figure. If the government imposes a tax size of P- P" in the above market then the area L+M+Y represents a. consumer surplus after the tax. producer surplus after the tax. Cconsumer surplus before the tax. producer surplus before the tax. QUESTION 4 4 point Figure Supply Dennd Quantity Q1 02 Q3 Q Qs Refer to Figure. If the government impose a tax...
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
old price= $22
new price= $23.35
total tax = $4
tax on buyer =$1.35
tax on seller =$2.65
old quantity = 70
new quantity = 57
34 S 30 26 Price 22 18 14 10 20 30 40 50 60 70 80 90 100 Quantity After the tax, how much revenue does the firm get to keep (subtract the tax from the revenue) $1,111 $1,205 $1070 $1,365
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