Homework Answers
(25) (b)
Tax burden of buyers = After-tax price paid by buyers - Pre-tax price = 32 - 24 = 8
Tax burden of sellers = Pre-tax price - After-tax price received by sellers = 24 - 16 = 8
(24) (d)
After-tax consumer surplus = area between demand curve and after-tax price paid by buyers = Area J
(23) (a)
Loss to producers = decrease in producer surplus = (1/2) x (600 + 300) x (40 - 20) = (1/2) x 900 x 20 = 9,000
(22) (a)
Total surplus = consumer surplus + producer surplus
= area between demand curve and price + area between supply curve and price
= (I + J + K) + (L + M + Y)
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QUESTION 25 Figure: The figure below indicates a tax size of AB. 1 Price + Supply...
QUESTION 3 Figure Price Supply P K I P" P B M N Demand Quantity Refer...
QUESTION 3 Figure Price Supply P K I P" P B M N Demand Quantity Refer to Figure. If the government imposes a tax size of P- P" in the above market then the area L+M+Y represents a. consumer surplus after the tax. producer surplus after the tax. Cconsumer surplus before the tax. producer surplus before the tax. QUESTION 4 4 point Figure Supply Dennd Quantity Q1 02 Q3 Q Qs Refer to Figure. If the government impose a tax...
QUESTION 7 Figure: The vertical distance between points A and C represents a tax in the...
QUESTION 7 Figure: The vertical distance between points A and C represents a tax in the market. T Price Supply 1000 900+ 800 700+ 600 + 500+ 400 300 C 200+ 100 Demand 10 20 30 40 50 60 70 80 90 100110 Quantty Refer to Figure. After the taxes a. there will be a loss to the consumers of the amount $4,000. Б. there will be a loss to the consumers of the amount S6,000. Cthere will be a...
Question 2 1 pts Figure 8-1 1 Price Supply Demand Quantity Refer to Figure 8-1. Suppose...
Question 2 1 pts Figure 8-1 1 Price Supply Demand Quantity Refer to Figure 8-1. Suppose the government imposes a tax of p'-P". The consumer surplus after the tax is measured by the area J+K+1 OJ OM L+M+Y
QUESTION 12 Figure: The graph below shows a demand curve and four supply curves 1 Price...
QUESTION 12 Figure: The graph below shows a demand curve and four supply curves 1 Price Refer to Figure. If a tax is imposed in the above market then which supply curve will have highest deadweight lossi a. S2 Oc. SA. d.53. QUESTION 18 When boats are taxed and sellers of boats are required to pay the tax to the government, a. there is a movement downward and to the right along the demand curve for boats. Ob the quantity...
Question 3 1 pts Figure 8-1 1 Price Supply KI | Lly Demand Quantity Refer to...
Question 3 1 pts Figure 8-1 1 Price Supply KI | Lly Demand Quantity Refer to Figure 8-1. Suppose the government imposes a tax of P'P. The area measured by I+Y represents the deadweight loss due to the tax. loss in consumer surplus due to the tax. loss in producer surplus due to the tax. total surplus before the tax.
I need help solving this Asap. thanks alot. Figure 1: Supply and Demand in the Market...
I need help solving this Asap. thanks alot.
Figure 1: Supply and Demand in the Market for a Good Price ($/unit) 35 27 Supply 23 19 15 13 11 9 Demand 5 13 17 Quantity (units) 11 12 10 8 6 14. Refer to Figure 1. At the market equilibrium, total consumer surplus is $10 b. $50 а. $100 d. $200 15. Refer to Figure 1. Holding the supply curve fixed, assume demand increased, which caused the equilibrium price to...
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...
Figure: Supply and Demand. Treat every question which references this figure as independent. Price (dollars) 201...
Figure: Supply and Demand. Treat every question which references this figure as independent. Price (dollars) 201 - - lral - | X T-N -- - - TILLIT t iIIiDN Z-1-LLEIJ-1-l-LUJ-1-L - LLIT + - - IT-T- - I - +-+-+-+ ! 1 - - -- + = + - A - +-+ - + - + -- - - 1 - TT - T TT 1 1 1 1 TC17-T- - - - --- ---- 10 15 Quantity (thousands) 1....
Figure 1. Price $ Supply (after tax) Supply (before tax) Demand 75 100 Quantity of Cigarettes 12. In Figure 1, the...
Figure 1. Price $ Supply (after tax) Supply (before tax) Demand 75 100 Quantity of Cigarettes 12. In Figure 1, the tax is being levied to the a. Third party b. Buyer c. Government d. None of the above curve is unchanged. 13. The curve shifts to the left after tax but a. Demand; supply b. Supply; demand c. Supply, supply d. Demand; demand 14. The amount of tax is a. $1 b. $3 c. $2 d. $4 15. The...
Figure 8-9 The vertical distance between points A and C represents a tax in the market....
Figure 8-9 The vertical distance between points A and C represents a tax in the market. 1000 Price Supply 900 Demand 10 20 30 60 90 60 70 80 90 100110 Quantity Refer to Figure 8-9. The producer surplus without the tax is O a $3,000 O b.$8,000 O c. $12,000 O d. $24,000
QUESTION 3 Figure Price Supply P K I P" P B M N Demand Quantity Refer to Figure. If the government imposes a tax size of P- P" in the above market then the area L+M+Y represents a. consumer surplus after the tax. producer surplus after the tax. Cconsumer surplus before the tax. producer surplus before the tax. QUESTION 4 4 point Figure Supply Dennd Quantity Q1 02 Q3 Q Qs Refer to Figure. If the government impose a tax...
QUESTION 7 Figure: The vertical distance between points A and C represents a tax in the market. T Price Supply 1000 900+ 800 700+ 600 + 500+ 400 300 C 200+ 100 Demand 10 20 30 40 50 60 70 80 90 100110 Quantty Refer to Figure. After the taxes a. there will be a loss to the consumers of the amount $4,000. Б. there will be a loss to the consumers of the amount S6,000. Cthere will be a...
Question 2 1 pts Figure 8-1 1 Price Supply Demand Quantity Refer to Figure 8-1. Suppose the government imposes a tax of p'-P". The consumer surplus after the tax is measured by the area J+K+1 OJ OM L+M+Y
QUESTION 12 Figure: The graph below shows a demand curve and four supply curves 1 Price Refer to Figure. If a tax is imposed in the above market then which supply curve will have highest deadweight lossi a. S2 Oc. SA. d.53. QUESTION 18 When boats are taxed and sellers of boats are required to pay the tax to the government, a. there is a movement downward and to the right along the demand curve for boats. Ob the quantity...
Question 3 1 pts Figure 8-1 1 Price Supply KI | Lly Demand Quantity Refer to Figure 8-1. Suppose the government imposes a tax of P'P. The area measured by I+Y represents the deadweight loss due to the tax. loss in consumer surplus due to the tax. loss in producer surplus due to the tax. total surplus before the tax.
I need help solving this Asap. thanks alot.
Figure 1: Supply and Demand in the Market for a Good Price ($/unit) 35 27 Supply 23 19 15 13 11 9 Demand 5 13 17 Quantity (units) 11 12 10 8 6 14. Refer to Figure 1. At the market equilibrium, total consumer surplus is $10 b. $50 а. $100 d. $200 15. Refer to Figure 1. Holding the supply curve fixed, assume demand increased, which caused the equilibrium price to...
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...
Figure: Supply and Demand. Treat every question which references this figure as independent. Price (dollars) 201 - - lral - | X T-N -- - - TILLIT t iIIiDN Z-1-LLEIJ-1-l-LUJ-1-L - LLIT + - - IT-T- - I - +-+-+-+ ! 1 - - -- + = + - A - +-+ - + - + -- - - 1 - TT - T TT 1 1 1 1 TC17-T- - - - --- ---- 10 15 Quantity (thousands) 1....
Figure 1. Price $ Supply (after tax) Supply (before tax) Demand 75 100 Quantity of Cigarettes 12. In Figure 1, the tax is being levied to the a. Third party b. Buyer c. Government d. None of the above curve is unchanged. 13. The curve shifts to the left after tax but a. Demand; supply b. Supply; demand c. Supply, supply d. Demand; demand 14. The amount of tax is a. $1 b. $3 c. $2 d. $4 15. The...
Figure 8-9 The vertical distance between points A and C represents a tax in the market. 1000 Price Supply 900 Demand 10 20 30 60 90 60 70 80 90 100110 Quantity Refer to Figure 8-9. The producer surplus without the tax is O a $3,000 O b.$8,000 O c. $12,000 O d. $24,000
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