9. The demand and supply functions for product x are given, respectively, by the equations: P=83.6-0.037 Q P = 15.7 + 0.056 A P10 tax per units is levied to the manufacturer. How much is the tax burdenon the part of the seller after the imposition of tax?A. P10B. P3.97C. P6.03D. P5.010. The demand and supply functions for product x are given, respectively, by the equations:P=83.6-0.037 Q P=15.7+0.056 (A P10 tax per units is levied to the manufacturer. How much is the taxburden on the part of the buyer after the imposition of tax?A. P10B. P3.97C. P6.03D. P5.011. The demand and supply functions for product x are given, respectively, by the equations: P = 83.6-0.037 Q P = 15.7 +0.056 Q. A P10 tax per units is levied to the manufacturer. How much is thegovernment revenue?A. P6225.8B. P7311.1C. P5960.7D. P6252.8Modified TRUE or FALSE: On the space provided before the number, place TRUE for correct statementand for incorrect statement, WRITE the word that makes the statement wrong, then write the correctword BESIDE the incorrect word. For example, DEMAND/SUPPLY.12-13. With a specific demand, the more inelastic the supply, the larger is the portion of the tax borneby producers.14-15. If the supply of product Y is more elastic with respect to price in the long run than in the shortrun, then all else equal, a tax falls more on buyers in the short run than in the long run16-17. When Es=co(perfectly elastic) and Ed=0 (perfectly inelastic), the whole incidence falls to theseller.18-19. When Ed (elasticity of demand) is greater than Es (elasticity of supply), more tax incidence ison the seller.20-21. When Es(elasticity of supply) is greater than Ed (elasticity of demand), more tax incidence ison buyer.||

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9. The demand and supply functions for product x are given, respectively, by the equations: P-83.6- 0.037 Q P = 15.7 + 0.056 A P10 tax per units is levied to the manufacturer. How much is the tax burden on the part of the seller after the imposition of tax? A. P10 B. P3.97 C. P6.03 D. P5.0 10. The demand and supply functions for product x are given, respectively, by the equations: P=83.6-0.037 Q P=15.7+0.056 ( A P10 tax per units is levied to the manufacturer. How much is the tax burden on the part of the buyer after the imposition of tax? A. P10 B. P3.97 C. P6.03 D. P5.0 11. The demand and supply functions for product x are given, respectively, by the equations: P = 83.6- 0.037 Q P = 15.7 +0.056 Q. A P10 tax per units is levied to the manufacturer. How much is the government revenue? A. P6225.8 B. P7311.1 C. P5960.7 D. P6252.8

9. The demand and supply functions for product x are given, respectively, by the equations: P-83.6- 0.037 Q P = 15.7 + 0.056 A P10 tax per units is levied to the manufacturer. How much is the tax burden on the part of the seller after the imposition of tax? A. P10 B. P3.97 C. P6.03 D. P5.0 10. The demand and supply functions for product x are given, respectively, by the equations: P=83.6-0.037 Q P=15.7+0.056 ( A P10 tax per units is levied to the manufacturer. How much is the tax burden on the part of the buyer after the imposition of tax? A. P10 B. P3.97 C. P6.03 D. P5.0 11. The demand and supply functions for product x are given, respectively, by the equations: P = 83.6- 0.037 Q P = 15.7 +0.056 Q. A P10 tax per units is levied to the manufacturer. How much is the government revenue? A. P6225.8 B. P7311.1 C. P5960.7 D. P6252.8

Microeconomics: Principles & Policy

14th Edition

ISBN:9781337794992

Author:William J. Baumol, Alan S. Blinder, John L. Solow

Publisher:William J. Baumol, Alan S. Blinder, John L. Solow

Chapter6: Demand And Elasticity

Section: Chapter Questions

Problem 3TY

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4. The demand and supply functions for product x are given, respectively, by the equations: P = 83.6 0.037 Q P = 15.7 +0.056 Q. A P10 tax per units is levied to the manufacturer. What is the price paid by the buyer before the imposition of tax? A. P56.59 B. P60.56 C. P730.11 D. P622.58 5. The demand and supply functions for product x are given, respectively, by the equations: P = 83.6 0.037 Q P = 15.7 +0.056 Q. A P10 tax per units is levied to the manufacturer. What is the equilibrium quantity before the imposition of tax? A. 56.59 units B. 60.56 units C. 730.11 units D. 622.58 units 6. The demand and supply functions for product x are given, respectively, by the equations: 0.037 Q P = 15.7 +0.056 Q. A P10 tax per units is levied to the manufacturer. What is the equilibrium quantity after the imposition of tax? A. 56.59 units B. 60.56 units C. 730.11 units D. 622.58 units 7. The demand and supply functions for product x are given, respectively, by the equations: P = 83.6 0.037 Q P =…
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