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In this activity consider the following demand and supply functions. emand upply D(p) 43660- 230p S(p)- 400p- 8000 ulmé that no taxes are imp 1. First, ass hen find the equilibrium price and quantity 100-230 р: 2. Assume that there is a 10% tax imposed on the consumer, find the new equilibrium price and quantit e 300 3360pa Ruu 3 (p the portion of the tax paid by the producer and the portion of the tax paid by the consumer, and Producer Consumer the tax revenue generated for the government Total Tax3. Assume that there is a 10% tax imposed on the producer, find . the new equilibrium price and quantity the portion of the tax paid by the producer and the portion of the tax paid by the consumer, and Producer Consumer the tax revenue generated for the government. . Total Tax 4. Assume that there is a $15 tax imposed on the consumer, find the new equilibrium price and quantity, the portion of the tax paid by the producer and the portion of the tax paid by the consumer, and Producer Consumer the tax revenue generated for the government. Total Tax 5. Assume that there is a $15 tax imposed on the producer, find the new equilibrium price and quantity the portion of the tax paid by the producer and the portion of the tax paid by the consumer, and Producer Consumer the tax revenue generated for the government Total Tax 6. Which tax is best for the government? 7. Which tax is best for the producers? 8. Which tax is best for the consumers?

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Answer #1

Answering only first four parts

51660 6зор, рх-82. &,-84800 hps た.1 80 |G-43660-253 P 1660653 P Nouo Rrice paid by Bes 없3,64 азор-43 660-a3 644 total, tax- Phr_ 89-44-11 -5 x 100, -63.34% 89 억-89 3x Revenue ? total tax- tax-Q (q,89): 23644 186551.16 $ he

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