Homework Answers
If the supply becomes more elastic, then the deadweight loss from the tax will increase as the quantity supplied will vary more with the price
option(A)
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QUESTION 9 As supply becomes more elastic, the deadweight loss from a tax increases decreases remains...
9. Describe how deadweight loss changes when supply is elastic and inelastic 10. Explain the difference...
9. Describe how deadweight loss changes when supply is elastic and inelastic 10. Explain the difference between the benefits principle and the ability-to-pay principle.
The deadweight loss associated with an import tariff is smaller than a quota of the same...
The deadweight loss associated with an import tariff is smaller than a quota of the same impact because Cannot be determined from the information The government receives revenue from the tariff and not the quota. Price increases more with a tariff, O Quantity decreases more with a quota. The government receives revenue from the quota and not the tariff.
As time increases A good becomes more price elastic A good becomes less price elastic Time...
As time increases A good becomes more price elastic A good becomes less price elastic Time has no effect on price elasticity of demand only on income elasticity Time has no effect on price elasticity of demand only on income cross-price elasticity If the elasticity of demand is more elastic than the elasticity of supply then consumers bear the greater economic incidence of the tax producers bear the greater economic incidence of the tax consumers and producers evenly share the...
The more inelastic are demand and supply, the greater is the deadweight loss of a tax....
The more inelastic are demand and supply, the greater is the deadweight loss of a tax. True False
With a subsidy to consumers, supply * increases. O decreases. O remains the same. O shifts...
With a subsidy to consumers, supply * increases. O decreases. O remains the same. O shifts unpredictably. Speculation is O pondering the meaning of life. O polluting the price signal by guessing wildly about the future. the attempt to profit from future price changes. O a disruption of the normal market mechanism.
QUESTION 6 The deadweight loss associated with a per-unit tax will be small relative to the...
QUESTION 6 The deadweight loss associated with a per-unit tax will be small relative to the tax revenue collected if: supply and demand are both elastic. O A. supply and demand are both inelastic. OB. supply is elastic, demand is inelastic. OC demand is elastic, supply is inelastic. OD. QUESTION 7 Consider the following statements when answering this question 1. It is not possible to help consumers by simply shifting taxes from consumers paying them to producers paying them. II....
1. Does a tax lead to a deadweight loss? Explain your answer in detail. 2. How...
1. Does a tax lead to a deadweight loss? Explain your answer in detail. 2. How does a tax impact consumer and producer surplus? 5. Describe how deadweight loss changes when demand is elastic and inelastic. 8. Describe how deadweight loss changes when supply is elastic and inelastic 10. Explain the difference between the benefits principle and the ability-to-pay principle.
1. 2) The deadweight loss associated with an import tariff is smaller than a quota of...
1.
2) The deadweight loss associated with an import tariff is
smaller than a quota of the same impact because
________________.
a. The government receives revenue from the quota and not the
tariff.
b. Price increases more with a tariff.
c. Quantity decreases more with a quota.
d. The government receives revenue from the tariff and not the
quota.
e. Cannot be determined from the information
3) Will this firm shutdown?
Q = 5
Price: $30
MC = $10
AVC...
Which of the following statements correctly describes the relationship between the size of the deadweight loss...
Which of the following statements correctly describes the relationship between the size of the deadweight loss and the amount of tax revenue as the size of a tax increases from a small tax to a medium tax and finally to a large tax? The size of the deadweight loss increases, but the tax revenue first increases, then decreases. Both the size of the deadweight loss and tax revenue increase. The size of the deadweight loss increases, but the tax revenue...
Question 12 As production increases, the fixed cost per unit increases O decreases remains the same...
Question 12 As production increases, the fixed cost per unit increases O decreases remains the same either increases or decreases, depending on the variable costs
9. Describe how deadweight loss changes when supply is elastic and inelastic 10. Explain the difference between the benefits principle and the ability-to-pay principle.
The deadweight loss associated with an import tariff is smaller than a quota of the same impact because Cannot be determined from the information The government receives revenue from the tariff and not the quota. Price increases more with a tariff, O Quantity decreases more with a quota. The government receives revenue from the quota and not the tariff.
With a subsidy to consumers, supply * increases. O decreases. O remains the same. O shifts unpredictably. Speculation is O pondering the meaning of life. O polluting the price signal by guessing wildly about the future. the attempt to profit from future price changes. O a disruption of the normal market mechanism.
QUESTION 6 The deadweight loss associated with a per-unit tax will be small relative to the tax revenue collected if: supply and demand are both elastic. O A. supply and demand are both inelastic. OB. supply is elastic, demand is inelastic. OC demand is elastic, supply is inelastic. OD. QUESTION 7 Consider the following statements when answering this question 1. It is not possible to help consumers by simply shifting taxes from consumers paying them to producers paying them. II....
1.
2) The deadweight loss associated with an import tariff is
smaller than a quota of the same impact because
________________.
a. The government receives revenue from the quota and not the
tariff.
b. Price increases more with a tariff.
c. Quantity decreases more with a quota.
d. The government receives revenue from the tariff and not the
quota.
e. Cannot be determined from the information
3) Will this firm shutdown?
Q = 5
Price: $30
MC = $10
AVC...
Which of the following statements correctly describes the relationship between the size of the deadweight loss and the amount of tax revenue as the size of a tax increases from a small tax to a medium tax and finally to a large tax? The size of the deadweight loss increases, but the tax revenue first increases, then decreases. Both the size of the deadweight loss and tax revenue increase. The size of the deadweight loss increases, but the tax revenue...
Question 12 As production increases, the fixed cost per unit increases O decreases remains the same either increases or decreases, depending on the variable costs
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