A sales tax is imposed on the market for good H. Refer to the following graph. D1 isthe demand curve before the sales tax is imposed. D2 is the demand curve after thesales tax is imposed.Use the given information to answer questions 26-31.Price$80$60$55$40$10IIIQuestion 26180 100D₂Find the sales tax per unit.Answer: The sales tax per unit = $.D₁Quantity DQuestion 27Calculate the CS before tax. (Don't forget to multiply 0.5 to get the area of a triangle.)Answer: The CS before tax = $_Question 28Calculate the PS after tax. (Don't forget to multiply 0.5 to get the area of a triangle.)Answer: PS after tax = $Question 29Calculate the DWL. (Don't forget to multiply 0.5 to get the area of a triangle.)Answer: DWL = $

The initial demand and supply curves are D1 and S respectively. Equilibrium in the market occurs at…

A sales tax is imposed on the market for good H. Refer to the demand curve before the sales tax is imposed. D2 is the demand curve after the sales tax is imposed. Use the given information to answer questions 26 - 31.

A sales tax is imposed on the market for good H. Refer to the demand curve before the sales tax is imposed. D2 is the demand curve after the sales tax is imposed. Use the given information to answer questions 26 - 31.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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P = -40a +50 P = 40, +10 solve 4th part plzz A tax of 8JD is imposed on every unit sold Answer the question in accordance with the following graph 1. Equilibrium quantity before tax is imposed : a) 5 b) 25 c) 15 E) Otherwise 2. Equilibrium price before tax is imposed : a) 45 b) 55 c) 70 E) Otherwise 3. Equilibrium quantity after tax is imposed : a) 30 b) 25 c) 15 E) Otherwise 4. Equilibrium price after tax is imposed : a) 45 b) 55 c) 70 E) Otherwise 5. Values of dimensions at point A: a) 0,100 b) 0,50 c) 0,120 E) Otherwise 6. Values of dimensions at point B: b) 60,0 a) 30,0 c) 50, 0 E) Otherwise 7. Portion of the tax born by consumer is: b) 5 a) 30 c) 20 E) Otherwise 8. Portion of the tax born by producer is : a) 10 b) 20 c) 30 E) Otherwise 9. The distance FC is : a) 5 b) 10 c) 50 E) Otherwise 10. The slope of the demand function is : b) -2 a) 2 c) 4 E) Otherwise hand written plz d) 10 d) 30 d) 10 d) 100 d) 50,0 d) 0,10 d) 10 d) 25 d) 80 d) -4
Instructions: Type in the amount of a tax, and click Supply or Demand to choose whether the tax is imposed on sellers or on buyers. Then move the Demand or Supply sliders to change the elasticities of supply and demand Set the tool to illustrate an $8 tax imposed on the buyers. Adjust the elasticity demand so that the vertical intercept is $80. Adjust the supply elasticity so that the vertical intercept of the supply curve is $40. Answer the following questions: a. What is the price paid with this $8 tax? $[ (answer to two decimal places) D. How does the new price change as you move the supply slider towards "less elastic?" the after price talis c. What changes if you impose the tax on sellers instead of on buyers? supply shifts instead of demand
The management believes that every 5% increase in the selling price of one of the company's products leads to a 8% decrease in the product's total unit sales. The product's price elasticity of demand is closest to: a. -2.41 b. -1.25 c. -1.99 d. -1.71
Problem 2. The effects of a tax on labor income. Use the labor market graph below to help answer the questions. wage rate ($) 36 32 28 24 20 20 16 12 8 4 Suppl Deman Hours of work per week (millions) 200 400 600 800 1000 1200 1400 1600 1800 a.) The equilibrium wage is and the equilibrium quantity of labor is b.) Now suppose that the government imposes a tax of $6 on workers. i.) Show the effects on the graph. The new equilibrium wage is quantity of labor is ii.) How much of the $6 tax are workers actually paying? $ paying? $ iii.) Show the excess burden (deadweight loss) of the tax. iv.) What is the total tax revenue raised? $ and the equilibrium How much are their employers c.) Suppose that this is actually the Social Security tax, which levies half of the tax on workers and half of the tax on firms. Use the graph above (or paste a new one in below) that shows the effects of this tax if it were instead split between firms and workers. • What will be the new equilibrium wage now? • How…
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A Moving to the next question prevents changes to this answer. Question 7 The C.P.I. INCLUDES which of the following? a. Soldier uniforms, Congressional salaries, sewer repairs b. Entertainment, delivery trucks, income taxes c. Housing, sales taxes, prescription glasses d. Farming equipment, pharmaceuticals, surgery equipment Moving to the next question prevents changes to this answer.
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