Homework Answers
1) The more he eats, the lesser would be his utility or satisfaction. In other words, the marginal benefit derived from consuming an additional pizza would reduce.
So option A) lower the marginal benefit
2) The quantity demanded of a good or service is the amount that the consumers are willing to buy and able to pay for. This means that the consumers plan to uy at a given time and at a given price.
Answer would be option C)
3) When the tax is imposed on the good where the supply curve is elastic, the burden of the tax would be less on the sellers and more on buyers. The difference in quantity supplied would not be more because they tend to push the greater burden on the demand or consumers.
Hence option A) would be the answer.
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please answer these. Thank you.
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Suppose the demand curve for a good is given by Q D = 10 - 2P and
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Q S = -2 + P.
a) (4 points) Find the equilibrium price and quantity in the
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b) (6 points) Now suppose the government imposes a tax of t = 3.
Find the new equilibrium price at
which the good is sold in the market and the quantity of the...
I need help with these Mcq's please. Thank you
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