not sure from my answers ^^Homework Answers
18 ans is B. Total there is a tax of 60 cents. So PB-Ps=0.6 so new quantity=60 because at q=60, Pb=4.8 and Ps=4.2
19. Tax Revenue=t*Q=0.6(60)=36
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not sure from my answers ^^
Q18 (1 point). The table below shows the demand and...
Q19 (1 point). The table below shows the demand and supply schedules for peanuts. Suppose the...
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NOT SURE IF MY ANSWERS ARE CORRECT. Please help and see for any corrections! Question 15...
NOT SURE IF MY ANSWERS ARE CORRECT. Please help and see for any
corrections!
Question 15 6 pts Figure 8 per unit $100 $90 ..... $80 $701 $60 $501 $401 $30 $20 $10 0 1 2 3 4 5 6 7 8 9 10 11 12 Quantity (in thousands) Refer to Figure 8 which shows the supply and demand in the market for microscopes. The government imposes a $30 per unit tax on this market. BEFORE the imposition of the...
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The graph shows the market for tulips. Price (dollars per bunch) Draw a point at the equilibrium price and equilibrium quantity. Label it 1. Suppose that tulips are taxed $6 a bunch and that the tax is on the sellers of tulips. Draw a curve that shows the effect of the tax. Label it. Draw a point to indicate the price paid by buyers and the quantity bought. Label it 2. 114 Buyers pay $ of the tax and sellers...
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Fill in the following table with the quantity sold, the price buyers pay, and the price...
Fill in the following table with the quantity sold, the price
buyers pay, and the price sellers receive before and after the
tax.
Quantity
Price Buyers
Pay
Price Sellers
Receive
(Pairs of
jeans)
(Dollars per
pair)
(Dollars per
pair)
Before Tax
After Tax
Using the data you entered in the previous table, calculate the
tax burden that falls on buyers and on sellers, respectively, and
calculate the price elasticity of demand and supply over the
relevant ranges using the midpoint...
You did not receive full credit for this que Suppose you have the information shown in...
You did not receive full credit for this que Suppose you have the information shown in the table below about the quantity of a good supplied and demanded at various prices Price (S) Quantity demanded Quantity supplied 180 50 40 30 20 140 100 60 20 40 20 10 60 80 a. Draw the demand and supply curves from the data provided. Instructions: Use the tools provided (D1 and S1) to plot the demand curve (5 points total) and the...
Consider the market for mountain bikes. The following graph shows the demand and supply for mountain...
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Q19 (1 point). The table below shows the demand and supply schedules for peanuts. Suppose the government imposes a 12 cent tax on buyers and a 48 cent tax on sellers. How much tax revenue, in dollars, is collected by the government from the tax? Numerical answer Q Supplied Q Demanded 140 4.00 20 4.10 130 40 4.20 120 60 4.30 110 80 4.40 100 100 4.50 90 120 4.60 80 140 4.70 70 160 4.80 60 180 4.90 50...
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NOT SURE IF MY ANSWERS ARE CORRECT. Please help and see for any
corrections!
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The graph shows the market for tulips. Price (dollars per bunch) Draw a point at the equilibrium price and equilibrium quantity. Label it 1. Suppose that tulips are taxed $6 a bunch and that the tax is on the sellers of tulips. Draw a curve that shows the effect of the tax. Label it. Draw a point to indicate the price paid by buyers and the quantity bought. Label it 2. 114 Buyers pay $ of the tax and sellers...
2. Taxes and welfare Consider the market for mountain bikes. The following graph shows the demand and supply for mountain bikes before the government imposes any taxes. First, use the black point (plus symbol) to indicate the equilibrium price and quantity of mountain bikes in the absence of a tax. Then use the green point (triangle symbol) to shade the area representing total consumer surplus (CS) at the equilibrium price. Next, use the purple point (diamond symbol) to shade the...
Fill in the following table with the quantity sold, the price
buyers pay, and the price sellers receive before and after the
tax.
Quantity
Price Buyers
Pay
Price Sellers
Receive
(Pairs of
jeans)
(Dollars per
pair)
(Dollars per
pair)
Before Tax
After Tax
Using the data you entered in the previous table, calculate the
tax burden that falls on buyers and on sellers, respectively, and
calculate the price elasticity of demand and supply over the
relevant ranges using the midpoint...
You did not receive full credit for this que Suppose you have the information shown in the table below about the quantity of a good supplied and demanded at various prices Price (S) Quantity demanded Quantity supplied 180 50 40 30 20 140 100 60 20 40 20 10 60 80 a. Draw the demand and supply curves from the data provided. Instructions: Use the tools provided (D1 and S1) to plot the demand curve (5 points total) and the...
Consider the market for mountain bikes. The following graph shows the demand and supply for mountain bikes before the government imposes any taxes First, use the black point (plus symbol) to indicate the equilibrium price and quantity of mountain bikes in the absence of a tax. Then use the green point (triangle symbol) to shade the area representing total consumer surplus (CS) at the equilibrium price. Next, use the purple point (diamond symbol) to shade the area representing total producer...
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