Homework Answers
20.ans is D
Initial equilibrium price=4.4 and quantity=100
after total tax of 60 cents (consumer + producer tax), price consumer pay=4.80 and producer receives 4.20 and quantity traded=60
21. Ans is C. After a subsidy of $7, 13 Quantity would be traded because Ps-Pb=7 At Q=13.
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Q20 (1 point). The table below shows the demand and supply schedules for peanuts. Suppose the...
Q19 (1 point). The table below shows the demand and supply schedules for peanuts. Suppose the...
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...
not sure from my answers ^^ Q18 (1 point). The table below shows the demand and...
not sure from my answers ^^
Q18 (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. What is the new equilibrium quantity sold? 40 60 оооо 80 100 P Demanded Q Supplied 20 4.00 140 4.10 130 40 4.20 120 60 110 80 4.30 4.40 100 100 90 120 4.50 4.60 80 140 70 4.70 4.80 160 180 60...
.1. The table below shows the demand for and supply of rental housing in Windhoek. The...
.1. The table below shows the demand for and supply of rental housing in Windhoek. The city govemment is considering imposing a rent ceiling of NS700 a month. Help the government to analyze the effects of the proposed rent ceiling. dollars per month) (units per month units per month) 500 600 700 800 900 1,200 1,000 800 600 400 200 100 0 100 Draw the demand and supply curves. With no rent ceiling, what is the rent and how many...
on 10 of 10 > Consider the supply and demand schedules for calzones at a local...
on 10 of 10 > Consider the supply and demand schedules for calzones at a local pizzeria. Use the information in the schedules to answer the five questions. Demand Price (P) Quantity (Q) $13 S12 S11 SIO 59 $8 $7 56 55 54 20 40 60 80 100 120 140 160 180 20 Supply Price (P) Quantity (0 $4 55 56 57 $8 89 $10 SL $12 $13 20 30 40 50 60 70 80 90 100 110 What is...
Suppose that a market is described by the following supply and demaod equations: QD 240-P Suppose...
Suppose that a market is described by the following supply and demaod equations: QD 240-P Suppose that a tax of T is placed on buyers, so the new demand equation is as follows: The new equilibrium price is now P 80, and the new equilibrium quantity is Q 160- Tax revenue is T x Q. Use the green points (triangle symbol) to graph tax revenue for the following tax (T) values: 0, 30, 90, 120, 150, 210, and 240. Laffer...
(1 point) The graph below shows the demand and supply for sweet potato pies. Suppose the...
(1 point) The graph below shows the demand and supply for sweet potato pies. Suppose the government offers consumers a subsidy of $3.5 per pie. What is the new price of pies? How much do consumers pay per pie (accounting for the subsidy)? Do consumers gain or lose as a result of this subsidy? How much do consumers gain or lose as a result of this a result of thid Gain Lose Do producers gain or lose as a result...
1 Price 15 14 13 Supply 12 11 10 9 8 7 6 Demand 10 20...
1 Price 15 14 13 Supply 12 11 10 9 8 7 6 Demand 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160 170 Quantity In the above figure, the vertical distance between points A and B represents a tax in the market. The amount of deadweight loss as a result of the tax is .... O A. $490. OB. $600. OC. $105. OD. $210.
Question 23 (1 point) The diagram below shows the domestic market for snowshoes. Assume that the...
Question 23 (1 point) The diagram below shows the domestic market for snowshoes. Assume that the international price of snowshoes is $50 and suppose that the domestic government charges a tariff equal to $10 on imported snowshoes. Price (S) Spomesti 60 50 40 Doomestie 40 60 80 100 120 140 Snowshoes /month Calculate the dollar value of the deadweight loss attributable to the tariff. Report your answer rounded to the nearest whole number. Your Answer: Answer
Consider the market for mountain bikes. The following graph shows the demand and supply for mountain...
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...
Suppose the government is considering taxing cigarettes. Because it is often politically more popular to tax...
Suppose the government is considering taxing cigarettes. Because it is often politically more popular to tax the producers of cigarettes than the consumers of cigałettes, the government first considers the impact on the market as a result of taxing the producers of cigarettes. a. Draw the after-tax supply curve if the government chooses to tax cigarette producers $2.50 per pack of cigarettes Instructions: Use the tool provided (S2) to plot the after-tax supply curve. Place your endpoints at Q-0 and...
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...
not sure from my answers ^^
Q18 (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. What is the new equilibrium quantity sold? 40 60 оооо 80 100 P Demanded Q Supplied 20 4.00 140 4.10 130 40 4.20 120 60 110 80 4.30 4.40 100 100 90 120 4.50 4.60 80 140 70 4.70 4.80 160 180 60...
.1. The table below shows the demand for and supply of rental housing in Windhoek. The city govemment is considering imposing a rent ceiling of NS700 a month. Help the government to analyze the effects of the proposed rent ceiling. dollars per month) (units per month units per month) 500 600 700 800 900 1,200 1,000 800 600 400 200 100 0 100 Draw the demand and supply curves. With no rent ceiling, what is the rent and how many...
on 10 of 10 > Consider the supply and demand schedules for calzones at a local pizzeria. Use the information in the schedules to answer the five questions. Demand Price (P) Quantity (Q) $13 S12 S11 SIO 59 $8 $7 56 55 54 20 40 60 80 100 120 140 160 180 20 Supply Price (P) Quantity (0 $4 55 56 57 $8 89 $10 SL $12 $13 20 30 40 50 60 70 80 90 100 110 What is...
Suppose that a market is described by the following supply and demaod equations: QD 240-P Suppose that a tax of T is placed on buyers, so the new demand equation is as follows: The new equilibrium price is now P 80, and the new equilibrium quantity is Q 160- Tax revenue is T x Q. Use the green points (triangle symbol) to graph tax revenue for the following tax (T) values: 0, 30, 90, 120, 150, 210, and 240. Laffer...
(1 point) The graph below shows the demand and supply for sweet potato pies. Suppose the government offers consumers a subsidy of $3.5 per pie. What is the new price of pies? How much do consumers pay per pie (accounting for the subsidy)? Do consumers gain or lose as a result of this subsidy? How much do consumers gain or lose as a result of this a result of thid Gain Lose Do producers gain or lose as a result...
1 Price 15 14 13 Supply 12 11 10 9 8 7 6 Demand 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160 170 Quantity In the above figure, the vertical distance between points A and B represents a tax in the market. The amount of deadweight loss as a result of the tax is .... O A. $490. OB. $600. OC. $105. OD. $210.
Question 23 (1 point) The diagram below shows the domestic market for snowshoes. Assume that the international price of snowshoes is $50 and suppose that the domestic government charges a tariff equal to $10 on imported snowshoes. Price (S) Spomesti 60 50 40 Doomestie 40 60 80 100 120 140 Snowshoes /month Calculate the dollar value of the deadweight loss attributable to the tariff. Report your answer rounded to the nearest whole number. Your Answer: Answer
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...
Suppose the government is considering taxing cigarettes. Because it is often politically more popular to tax the producers of cigarettes than the consumers of cigałettes, the government first considers the impact on the market as a result of taxing the producers of cigarettes. a. Draw the after-tax supply curve if the government chooses to tax cigarette producers $2.50 per pack of cigarettes Instructions: Use the tool provided (S2) to plot the after-tax supply curve. Place your endpoints at Q-0 and...
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