uncements us es $10 Materials $7 -Hill $5 49 sources 20 30 D Q If this market has a tax of $5 per unit imposed on it, what is the Deadweight Loss? O $7 O $25 O $30 O $100 IT * zoom
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- nt ard es ar 14 O 10 5 price 25 50 D Suppose a tax of $9 per unit is imposed on this market. How much will buyers pay per unit after the tax is imposed? $5 Between $5 and $10 Between $10 and $14 $14 quantityIf a $6 per unit tax is introduced in this market, then the price that consumers pay will equal, producers receive net of the tax will equal and the price that 12 S 11 10 B 6 10 20 30 40 50 60 70 80 90ut Figure 6-13 Price F1 Price 191-4 on this page 2 W F2 # (a) 3 (c) E 80 fer to Figure 6-13. In which market will the maiority of a tax be paid by the buyer? F3 Quantity $ 4 Quantity R Price F4 Price 5 0 F5 (b) (d) 6 D F6 Quantity D Quantity & 7 F7 8 DII F8
- Considermarketforagoodcharacterizedbythefollowinginverse demand and supply functions: PX = 10 − 2QX and PX = 2 + 2QX.a. Compute the surplus received by consumers and producers.b. Now suppose all manufacturers of this good are to pay a lump tax of $0.10that will be used by the government regulators to defray some of the environmental cost imposed by this good’s production. What will be the new surplus received by consumers and producers?c. Based on your results in part ‘b’ above, how will you evaluate the impact of this tax policy on the society? ExplainIf a $6 per unit tax is introduced in this market, then the price that consumers pay will equal producers receive net of the tax will equal_ 12 11 10 9 8 7 6 5 4 10 20 30 40 50 60 70 80 90 Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer a and the price thatSuppose the the demand for a product is given by Qd = 40 − 3P , andsupply by Qs = 5 + 2P Suppose that government places a tax on consumers of 10 per unit onproducers.(a) What will be the price and quantity with the tax?(b) How much will be the consumer be paying, including the tax, for each unit that the consumer purchases?(c) How much will the government be collecting in tax revenues?(d) What is the consumer surplus now that a tax has been placed on theproduct?(e) What is the producer surplus?(f) What is the deadweight loss?
- were.34.7 0 W e denerg esteyf demand for pood 12 O0002. The figure below shows the demand curve for a U.S. farmer for irrigating his land. It costs 097 the farmer $100 per acre to irrigate the land. Each acre of land irrigation generates salty runoff that winds up in the Colorado River. It costs $50 to desalinate this river water so Mexican farmers can irrigate their crops. a. Price 2 Linolla no bobang od liw nowomon quoY sho Hyldguorodi Arow He wor? C. 250 yab labiquis noboinions amoT 000, bus ,0012 101 og awotllam2 ni amoor fotoH 1 moos beinet von 02 10 xat s lod ogradio or aobioob toyim odiounovor seisT OT S 1001 101 011 gniog odt.bozogmi zi xet ont rofl A siir onsloole.000 of alls bonor amo01 to to 220l trigiswbsob oda bus nwollem? (lasvuo bramab Jazon bra vigque diw do wendaiti) Irrigation(acres) D=PB=SB 100 Draw the (marginal) private cost of irrigation on the graph. (Hint: when one more acre is irrigated, how much should be spent?) b. Draw the (marginal) social cost of irrigation on the graph. asiduob won 10vers: d To 15dman od…Figure & The vertical distance between peints A and B represents a tax in the market. Refer to Figure &. The munt of deadweight loss as a result of the tax is O $400 O $250 O $600 O $50. 82882288922 110 PRICE 100 Supply K Demand 610 15 20 25 10 QUANTITY 02
- Do it plzThe figure below shows the demand curve for a U.S. farmer for irrigating his land. It costs $100 per acre to irrigate the land. Each acre of land irrigation generates salty runoff that winds up in the Colorado River. It costs $50 to desalinate this river water so Mexican farmers can irrigate their crops. Price ($) 275 250 225 200 175 150 125 100 75 50 25 0 DMBMB sed 10 20 30 40 50 60 70 80 90 100110120 Irrigation (acres) Tools (2) MCpvt MC socialINCREASE IN TAX ON ALCOH OL AND TOBACCO Specific excise duty on alcohelle bever ges and tobacco products will increase by 8% INCREASES WIT MOUT BEER 14c per 340ml can UNFORTIFIED WNE 56e per 7 50mi bottle FORTIFIED WINE 44c per 750ml bottle SPARKLING WINE 86c per 750ml bottle APPLE BEER AND ALCOHOLIC FRUIT DRINKS 14c per 840ml can STRONG BEVERAGE/ORINKS RS,50 per 750ml bottle 1 Excise duty is also known as 2 In your opinion, do you think it was the right decision to increase excise taxes? Motivate your answer.
