Geoffrey, Suzanne, Jared, and Jessica are college roommates. They're trying to decide where the four of them should go for spring break: Vail or San Diego. If they order the tickets by 11:00 PM on February 1, the cost will be just $500 per person. If they miss that deadline, the cost rises to $1,200 per person. The following table shows the benefit (in dollar terms) that each roommate would get from the two trips. Roommate Geoffrey Suzanne Jared Jessica Benefit from Vail $1,000 $600 $700 $800 The roommates tend to put off making decisions. So, when February 1 rolls around and they still haven't made a decision, they schedule a vote for 10:00 PM that night. In case of a tie, they will flip a coin between the two vacation destinations. The roommates will get the most total benefit if they choose to go to Benefit from San Diego $500 $800 $700 $1,000 Roommate Geoffrey Suzanne Jared Jessica Given the individual benefits each roommate receives from the two trips, which trip will each roommate vote for? Fill in the table with each roommate's preferred location, assuming that a given roommate will abstain if he or she has no preference. Vote Vail San Diego ▼ Abstain -vail or San Diego Under majority rule, the roommates will vote to go to Choices E Therefore, majority rule leads to an economically Suppose Jessica misses the vote, leaving Geoffrey, Suzanne, and Jared to figure out where they're going to go. efficien- inefficien ✓ outcome. Geoffrey and Suzanne arque for their preferred destinations, but Jared offers to vote with Geoffrey if Geoffrey will vote on his side in an upcoming

In which S is the before-tax supply curve and St is the supply curve after the imposition of an excise tax. The burden of this tax is borne: P St B A 0 C E G only by consumers. F most heavily by consumers. D S most heavily by producers. equally by consumers and producers. Q

Consider an ad-valorem tax on a good X. The Demand for good X is constant elasticity with elasticity -2. The Supply for good Y is constant elasticity with elasticity 3. What is the incidence of the tax? Provide a fraction that shows the ratio of the tax burden that falls on the supply side relative to the demand side: 3/2 2/3 none of these (2+3)/2 (2+3)/3

A CBO study estimated that the excess burden from the corporate income tax ________ of the revenues raised by the tax. This estimate would make the corporate income tax ________ imposed by the federal government. A) equals less than 3 percent; the most efficient tax   B) equals less than 10 percent; one of the most efficient taxes   C) equals more than 90 percent; the most inefficient tax   D) could equal more than half; one of the most inefficient taxes    Only typed answer and don't use chat gpt

Refer to Figure 2. It shows the imposition of a per-unit tax on the market for cigarettes. S = Market Supply Curve; D = Market Demand Curve; S+Tax = Market Supply Curve with per-unit tax imposed. The total tax collected can be represented by: A) Triangle ABFB) Rectangle PTaxC) Rectangle PTaxECAD) Rectangle P0 ECB

Which of the following is an example of a potential tax implication resulting from recent government policies? A)Increase in tax rates for high - income earners B) Expansion of tax deductions for charitable donations C) Introductionof tax credits for small businesses D) Elimination of payroll taxes for all employees

How much would the excess burden of this $12 tax be if the equation of the original supply curve had been: Supply: P = 40 +0.2Q? A) $80 B) $120 C) $140 D) $360

Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.

Tax liability is given by the function T(y) = -10,000 + 0.25y where y is income. 7. The marginal tax rate in Tuvalu is: 8. The average tax rate in Tuvalu on an income of 40,000 is equal to: 9. The tax system is Tuvalu is; a) progressive b) regressive c) proportional

According to the textbook, which of the following statements about taxes in the U.S. is (are) correct? (x)  Tax evasion is illegal, but tax avoidance is legal. (y)  Most economists believe that a corporate income tax affects the stockholders of a corporation but not its employees or customers. (z)  In practice, the U.S. income tax system is filled with special provisions that alter a family's tax based on its specific circumstances. A. (x), (y) and (z) B. (x) and (y) only C. (x) and (z) only D. (y) and (z) only E. (z) only