4. Given the following information Qp = 240 – 5P es = P Where Qp is the quantity demanded , s is the quantity supplied and P is the price. The govern-ment enacted a tax of 0.12(12percent) per-unit on sellers in this mar-ket.

Given the market value of indirect taxes are 630 and subsidies are 34 what will be the value of net indirect taxes?

When tax is raised, consumer surplus: (a) Falls (b) Rises (c) Remain unchanged (d) Becomes zero

Suppose you bought a digital camera for a total purchase price of $279.99. If state taxes were 5.4%, what was the amount of the sales tax? (Round your answer to the nearest cent.)

QUESTION 3 What tax per item t will maximize total tax reveue T = tq if the demand is p+q3D1000 and supply 92 +2.5q+920 30 is

To determine the effect of income taxes on economic analysis, we don't need to consider the before-tax cash flow. O True O False

A) The town of Dimmsdale is a popular tourist destination. The problem is, the tourists are not always considerate of the beautiful landscapes in and around Dimmsdale. Cleanup efforts cost Dimmsdale $5005 a day. The town has decided that it would be only fair to finance this by a "bed tax"-a per-room-per-night tax on every occupied tourist accommodation room. Denote this tax (in dollars per room per night) by t. Dimmsdale has many small hotels, guest houses, and B&Bs. The providers of these (“hoteliers") can all be assumed to be in perfect competition with each other, and they are all similar enough that tourists consider them perfect substitutes. The demand function for rooms is Q,(p) 700 - 5p, where Q, is the number of rooms demanded and p is the price per room per night in dollars. The marginal cost of providing a room is c = $50 per night, 60% of which is labor costs (accruing to the workers of Sunnyside). The total number of rooms available is fixed at Q = 400 (this cannot be…

Consider the following supply and demand function, QD = 65 − 2P and QS = 1.5P − 5, and assume a $17.50 excise tax is collected from consumers. (a)  Calculate price and quantity in this market before (P1 and Q1) and after the tax (P2 and Q2). (b)  What is the amount of tax revenue that is collected from con- sumers, producers and in total? (c)  What is the relative tax burden of consumers and producers? (d)  Show how the elasticity of supply and demand determine the shar- ing of the tax burden. (e)  What is the relative tax burden of producers and consumers if the tax is collected from producers, instead?

The "backstop" approach to carbon tax refers to: (Select one) a. A shared value of carbon tax between the federal and provincial governments b. A minimum standard set by the federal government, which the provinces must meet or exceed c. A revenue neutral tax d. A maximum standard set by the provinces, which the federal government can meet or exceed

Oregon Hikes Cigarette Tax by $2 Last November Oregon voters overwhelmingly approved higher taxes on cigarettes and a new tax on e-cigarettes. Effective January 1, 2021, the state tax on a pack of cigarettes jumped from $1.33 to $3.33, the sixth-highest state tax in the nation. That will bring the average retail price up to $8.33 a pack, almost a 32 percent increase. State officials are expecting a tax windfall of $135 million in 2021 from the higher taxes. That assumes Oregonians continue to buy cigarettes at the same rate. Economists warn, however, that smokers reduce cigarette purchases when prices go up. Typically, unit sales decline by 4 percent when cigarette prices go up by 10 percent. The drop in unit sales may be larger in Oregon, as residents will have the option of purchasing smokes from other states, Indian reservations, and online. Source: Media reports of November 2020–February 2021. According to the News Wire, Instructions: Round your responses to one decimal…