Homework Answers
The incidence of an excise tax is the rate which measure of who really bears the burden of the tax.
The burden of tax falls more on the inelastic side, so if demand is relatively inelastic, then burden of tax falls more on buyers while burden of tax will be less on the sellers and vice-versa.
13.
Buyer pay tax share=8-6
=$2
Hence option C is the correct answer.
14.
Buyer pay tax share=6-5
=$1
Hence option A is the correct answer.
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Graph 6-7 Price 8 +----- 6+----- 5 +----- A + - - - - - - - - - - - W N – o 10 20 30 40 50 60 70 Quantity 13. According...
Figure 6-25 Trice Daterte 70 80 quantity 10 20 30 40 50 60 Refer to Figure...
Figure 6-25 Trice Daterte 70 80 quantity 10 20 30 40 50 60 Refer to Figure 6-25. The effective price that sellers receive after the tax is imposed is $5. $6. $7. $8.
d. $39,500. Figure 6-25 10 10 20 30 40 50 60 70 80 axtity 52. Refer...
d. $39,500. Figure 6-25 10 10 20 30 40 50 60 70 80 axtity 52. Refer to Figure 6-25. The burden of the tax on buyers is a SI per unit. b. $1.50 per unit. c. $2 per unit. d. $3 per unit 53. Which of the following is not correct?
QUESTION 52 Figure 6-22 Tanie 5 10 15 20 25 30 35 40 45 50 55...
QUESTION 52 Figure 6-22 Tanie 5 10 15 20 25 30 35 40 45 50 55 60 65 70 qani Refer to Figure 6-22. As the figure is drawn, who sends the tax payment to the government? O a. The buyers send the tax payment. O b. The question of who sends the tax payment cannot be determined from the graph. Oc. A portion of the tax payment is sent by the buyers, and the remaining portion is sent by...
Te 5 10 15 20 25 30 35 40 45 50 55 60 65 70 75...
Te 5 10 15 20 25 30 35 40 45 50 55 60 65 70 75 80 85 entity Refer to Figure 6-8. If the government imposes a price floor of $5 on this market; then there will be a. a surplus of 15 units of the good. b. a surplus of 5 units of the good. c. no surplus of the good. d. a surplus of 10 units of the good. When a tax is imposed on the sellers...
5 10 15 20 25 35 40 45 50 55 60 65 70 Refer to Figure...
5 10 15 20 25 35 40 45 50 55 60 65 70 Refer to Figure 6-22. The price paid by buyers after the tax is imposed is a $3.50 Ob. 55.00 c. $3.00 d. 56.00 The discovery of a new hybrid wheat would increase the supply of wheat. As a result, wheat farmers would realize an increase in total revenue if the a. supply of wheat is inelastic. b. demand for wheat is inelastic. c demand for wheat is...
Te 5 10 15 20 25 30 35 40 45 50 55 60 65 70 75...
Te 5 10 15 20 25 30 35 40 45 50 55 60 65 70 75 80 85 entity Refer to Figure 6-8. If the government imposes a price floor of $5 on this market; then there will be a. a surplus of 15 units of the good. b. a surplus of 5 units of the good. c. no surplus of the good. d. a surplus of 10 units of the good. When a tax is imposed on the sellers...
Please solve this in detail Figure 6-8 Price S $9 8 7 6 - - 5...
Please solve this in detail
Figure 6-8 Price S $9 8 7 6 - - 5 4 3 2. 1 Danor Tax 10 20 30 40 50 60 70 Quantity Refer to Figure 6-8. The tax size is Refer to Figure 6-8. The burden of the tax on sellers is Refer to Figure 6-8. The burden of the tax on buyers is
Price D 6 8 Quantity 8. Refer to the above graph. Assume the market for this...
Price D 6 8 Quantity 8. Refer to the above graph. Assume the market for this product is in equilibrium at the intersection of D2 and S. The shift in supply from S to Sz is due to an excise tax imposed on the product. The incidence of the tax is: $1 from the buyers and $3 from the sellers $3 from the buyers and $3 from the sellers $1 from the buyers and $1 from the sellers $4 from...
QUESTION 15 Figure 6-6 Tarice 10 20 30 40 50 60 70 80 quantity Refer to...
QUESTION 15 Figure 6-6 Tarice 10 20 30 40 50 60 70 80 quantity Refer to Figure 6-6. If the government imposes a price ceiling of $8 on this market, then there will be O a. a shortage of 10 units. O b. a shortage of 20 units. O c. no shortage. O d. a shortage of 40 units.
7. Effect of a tax on buyers and sellers The folloving graph shows the daily market...
7. Effect of a tax on buyers and sellers The folloving graph shows the daily market for wine. Suppose the government institutes a tax of $20.30 per bottle. This places a wedge between the price buyers pay and the price sellers receive. 100 90 80 70 60 Supply 50 40 30 4 20 Tax Wedge r0 010203040 50 0 T0 0 90 100 QUANTITY (Botties of wine)
Figure 6-25 Trice Daterte 70 80 quantity 10 20 30 40 50 60 Refer to Figure 6-25. The effective price that sellers receive after the tax is imposed is $5. $6. $7. $8.
d. $39,500. Figure 6-25 10 10 20 30 40 50 60 70 80 axtity 52. Refer to Figure 6-25. The burden of the tax on buyers is a SI per unit. b. $1.50 per unit. c. $2 per unit. d. $3 per unit 53. Which of the following is not correct?
QUESTION 52 Figure 6-22 Tanie 5 10 15 20 25 30 35 40 45 50 55 60 65 70 qani Refer to Figure 6-22. As the figure is drawn, who sends the tax payment to the government? O a. The buyers send the tax payment. O b. The question of who sends the tax payment cannot be determined from the graph. Oc. A portion of the tax payment is sent by the buyers, and the remaining portion is sent by...
Te 5 10 15 20 25 30 35 40 45 50 55 60 65 70 75 80 85 entity Refer to Figure 6-8. If the government imposes a price floor of $5 on this market; then there will be a. a surplus of 15 units of the good. b. a surplus of 5 units of the good. c. no surplus of the good. d. a surplus of 10 units of the good. When a tax is imposed on the sellers...
5 10 15 20 25 35 40 45 50 55 60 65 70 Refer to Figure 6-22. The price paid by buyers after the tax is imposed is a $3.50 Ob. 55.00 c. $3.00 d. 56.00 The discovery of a new hybrid wheat would increase the supply of wheat. As a result, wheat farmers would realize an increase in total revenue if the a. supply of wheat is inelastic. b. demand for wheat is inelastic. c demand for wheat is...
Te 5 10 15 20 25 30 35 40 45 50 55 60 65 70 75 80 85 entity Refer to Figure 6-8. If the government imposes a price floor of $5 on this market; then there will be a. a surplus of 15 units of the good. b. a surplus of 5 units of the good. c. no surplus of the good. d. a surplus of 10 units of the good. When a tax is imposed on the sellers...
Please solve this in detail
Figure 6-8 Price S $9 8 7 6 - - 5 4 3 2. 1 Danor Tax 10 20 30 40 50 60 70 Quantity Refer to Figure 6-8. The tax size is Refer to Figure 6-8. The burden of the tax on sellers is Refer to Figure 6-8. The burden of the tax on buyers is
Price D 6 8 Quantity 8. Refer to the above graph. Assume the market for this product is in equilibrium at the intersection of D2 and S. The shift in supply from S to Sz is due to an excise tax imposed on the product. The incidence of the tax is: $1 from the buyers and $3 from the sellers $3 from the buyers and $3 from the sellers $1 from the buyers and $1 from the sellers $4 from...
QUESTION 15 Figure 6-6 Tarice 10 20 30 40 50 60 70 80 quantity Refer to Figure 6-6. If the government imposes a price ceiling of $8 on this market, then there will be O a. a shortage of 10 units. O b. a shortage of 20 units. O c. no shortage. O d. a shortage of 40 units.
7. Effect of a tax on buyers and sellers The folloving graph shows the daily market for wine. Suppose the government institutes a tax of $20.30 per bottle. This places a wedge between the price buyers pay and the price sellers receive. 100 90 80 70 60 Supply 50 40 30 4 20 Tax Wedge r0 010203040 50 0 T0 0 90 100 QUANTITY (Botties of wine)
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