Please answer all questions. Thank youHomework Answers
Q19.
If a tax is imposed on sellers, the supply curve would shift to its left by the amount of tax levied.
Ans: Supply shift left
Q20.
Tax burden on sellers = Area of the rectangle in the graph = ($10-$6)*(300) = $4 * 300 = $1,200
Ans: $1,200
Q21.
When a tax is imposed on the buyers, the demand curve shifts to its left by the amount of tax levied.
Ans: Demand shift left
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Please answer all questions. Thank you
Question 19 (2 points) If tax is imposed on the...
Please help with these questions.. thank you. Price ($/unit) Supply Demand OL 10 11 12 13 17 Quantity (units) 18. Re...
Please help with these questions.. thank you.
Price ($/unit) Supply Demand OL 10 11 12 13 17 Quantity (units) 18. Refer to Figure 1. Suppose a tax of $6 per unit is imposed on sellers in this market. What is the total loss of consumer surplus resulting from this tax? a $18 b. $32 C. $36 d. $48 19. Refer to Figure 1. Suppose a tax of $6 per unit is imposed on sellers in this market. Which is correct?...
please answer these. Thank you. 29. When a tax is placed on the buyers of coffee,...
please answer these. Thank you.
29. When a tax is placed on the buyers of coffee, the buyers bear the entire burden of the tax b. sellers bear the entire burden of the tax burden of the tax will be always be equally divided between the buyers and the sellers d. burden of the tax will be shared by the buyers and the sellers, but the division of the burden is not always equal 30. the government wants to reduce...
Better electronic answer format, thank you！ 7. Effect of a tax on buyers and sellers The...
Better electronic answer format,
thank you！
7. Effect of a tax on buyers and sellers The following graph shows the daily market for wine. Suppose the government institutes a tax of $46.40 per bottle. This places a wedge between the price buyers pay and the price sellers receive. Supply Tax Wedge PRICE (Dollars per bottle) Demand 0 + 0 + 50 100 400 450 500 150 200 250 300 350 QUANTITY (Bottles of wine) Fill in the following table with...
2. What government policy would make the demand shift from D0 to D1? Clue: you should...
2. What government policy would make the demand shift from
D0 to D1? Clue: you should
specify if it is a tax or a subsidy. If it is a tax, is it
imposed on buyers or sellers?
3. According to the graphic, who pays
P1 , who pays
P2 and who bears most the
tax
burden (buyers or sellers) in this case? Explain your
answer.
Do Figure 3- Government policy in the market of jewelry 1. According to the graphic,...
Price (dollars per case) The graph shows the supply curve of no-name soda. The government has imposed a sales tax of $2...
Price (dollars per case) The graph shows the supply curve of no-name soda. The government has imposed a sales tax of $2 per case on no-name soda. The sellers of no-name soda end up paying the entire tax. Draw and label the demand curve for no-name soda. The more the demand, O A. inelastic; the larger is the amount of the tax paid by sellers O B. elastic; the larger is the amount of the tax paid by sellers O...
at plans to impose gure below shows the market for cigarettes. The government plans to o...
at plans to impose gure below shows the market for cigarettes. The government plans to o answer in this market which will be collected by sellers. Use the rigure to ans Questions 47 and 48 Price per pack 512 Supply 40 70 Demand Quantity of cigarettes (1000s of packs) 47. The amount of the tax paid by buyers is sellers is a $8; $3 b. $3; $2 The amount of the tax paid by c. $5; $2 d. $3; $5...
The graph shows the supply curve of no-name soda. The government has imposed a sales tax...
The graph shows the supply curve of no-name soda. The government has imposed a sales tax of $2 per case on no-name soda. Price (dollars per case) The sellers of no-name soda end up paying the entire tax. @ O3 Draw and label the demand curve for no-name soda. The more the demand, O A. inelastic; the larger is the amount of the tax paid by sellers O B. elastic; the larger is the amount of the tax paid by...
Consider a market for apple with the following supply and demand. Qs = 2 + p...
Consider a market for apple with the following supply and demand. Qs = 2 + p Qd = 20 p (a) What is equilibrium supply and demand in this market? The government imposed ad-valorem tax of 20% tax rate which is collected from the seller. We want to calculate buyerís burden, sellerís burden, and total tax revenue. Answer the following questions in steps to calculate them. (b) Suppose the tax rate is t. When market price is p, what is...
Consider a market for apple with the following supply and demand. Qs = 2 + p...
Consider a market for apple with the following supply and demand. Qs = 2 + p Qd = 20 p (a) What is equilibrium supply and demand in this market? The government imposed ad-valorem tax of 20% tax rate which is collected from the seller. We want to calculate buyerís burden, sellerís burden, and total tax revenue. Answer the following questions in steps to calculate them. (b) Suppose the tax rate is t. When market price is p, what is...
Now suppose that the government imposes a $2 tax per case on the sellers of microwave...
Now suppose that the government imposes a $2 tax per case on the sellers of microwave popcorn. The graph below shows the effects of this tax. Supply Demand 100 200 300 400 500 600 700 800 900 Quantity Using the information in the graph above, identify each of the following (after the tax is imposed): e. the new equilibrium price and quantity f. price paid by buyers g. price received by sellers h. consumer surplus i. producer surplus j. government...
Please help with these questions.. thank you.
Price ($/unit) Supply Demand OL 10 11 12 13 17 Quantity (units) 18. Refer to Figure 1. Suppose a tax of $6 per unit is imposed on sellers in this market. What is the total loss of consumer surplus resulting from this tax? a $18 b. $32 C. $36 d. $48 19. Refer to Figure 1. Suppose a tax of $6 per unit is imposed on sellers in this market. Which is correct?...
please answer these. Thank you.
29. When a tax is placed on the buyers of coffee, the buyers bear the entire burden of the tax b. sellers bear the entire burden of the tax burden of the tax will be always be equally divided between the buyers and the sellers d. burden of the tax will be shared by the buyers and the sellers, but the division of the burden is not always equal 30. the government wants to reduce...
Better electronic answer format,
thank you！
7. Effect of a tax on buyers and sellers The following graph shows the daily market for wine. Suppose the government institutes a tax of $46.40 per bottle. This places a wedge between the price buyers pay and the price sellers receive. Supply Tax Wedge PRICE (Dollars per bottle) Demand 0 + 0 + 50 100 400 450 500 150 200 250 300 350 QUANTITY (Bottles of wine) Fill in the following table with...
2. What government policy would make the demand shift from
D0 to D1? Clue: you should
specify if it is a tax or a subsidy. If it is a tax, is it
imposed on buyers or sellers?
3. According to the graphic, who pays
P1 , who pays
P2 and who bears most the
tax
burden (buyers or sellers) in this case? Explain your
answer.
Do Figure 3- Government policy in the market of jewelry 1. According to the graphic,...
Price (dollars per case) The graph shows the supply curve of no-name soda. The government has imposed a sales tax of $2 per case on no-name soda. The sellers of no-name soda end up paying the entire tax. Draw and label the demand curve for no-name soda. The more the demand, O A. inelastic; the larger is the amount of the tax paid by sellers O B. elastic; the larger is the amount of the tax paid by sellers O...
at plans to impose gure below shows the market for cigarettes. The government plans to o answer in this market which will be collected by sellers. Use the rigure to ans Questions 47 and 48 Price per pack 512 Supply 40 70 Demand Quantity of cigarettes (1000s of packs) 47. The amount of the tax paid by buyers is sellers is a $8; $3 b. $3; $2 The amount of the tax paid by c. $5; $2 d. $3; $5...
The graph shows the supply curve of no-name soda. The government has imposed a sales tax of $2 per case on no-name soda. Price (dollars per case) The sellers of no-name soda end up paying the entire tax. @ O3 Draw and label the demand curve for no-name soda. The more the demand, O A. inelastic; the larger is the amount of the tax paid by sellers O B. elastic; the larger is the amount of the tax paid by...
Now suppose that the government imposes a $2 tax per case on the sellers of microwave popcorn. The graph below shows the effects of this tax. Supply Demand 100 200 300 400 500 600 700 800 900 Quantity Using the information in the graph above, identify each of the following (after the tax is imposed): e. the new equilibrium price and quantity f. price paid by buyers g. price received by sellers h. consumer surplus i. producer surplus j. government...
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