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Demand elasticity and the size of deadweight loss associated with taxation
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12th attempt
See Hint
Calculate the deadweight loss associated with a price ceiling of
$2.50
With deadweight loss you do not use units. Just input number up to
two decimal places __________________________ ?
7.5 7 6.5 5.5 5 4.5 4 3.5 3 2.5 2 1.5 0.5 Quantity (millions of 1 LO LO LO LO LO LO LO We were unable to transcribe this image
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.
The more inelastic are demand and supply, the greater is the deadweight loss of a tax. True False
Please tell me why the answer is what it is The size of the deadweight loss resulting from a tax is smaller when which of the following is true? (a) the larger the price elasticity of demand (b) the smaller the price elasticity of supply (c) the larger the amount of the tax (d) none of the above are correct
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...
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....
O None of the above. QUESTION 12 The amount of deadweight loss associated with the tax is equal to P3ACP1 ABD. @P2ADP3. PDCP 2. DBC None of the above QUESTION 13 The graph below represents a $10 per unit tax on a good. On the graph o represer
DWL = deadweight loss
Suppose the elasticity of supply of cigarettes is 10. 1) Find estimates of the elasticity of demand for cigarettes, the current tax rate on cigarettes, average price, and annual quantity sold in Florida. Provide your sources. 2) How high would the price, including the tax, need to be to cut consumption by half? 3) How high would the tax have to be to push the after tax price that high? 4) Estimate the consumer and producer...
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...