If buyers pay more of a tax than do the sellersاختر أحد الخياراتa. demand is more elastic than supply O.b. supply is more elastic than demand OC. None of the above answers is correct O.d. the equilibrium price paid by buyers rises by less than half the amount of the tax„e. the amount of tax revenue collected by the government is almost zero

Tax is a compulsory payment that is imposed by the government either directly or indirectly on the…

If buyers pay more of a tax than do the sellers اختر أحد الخيارات a. demand is more elastic than supply b. supply is more elastic than demand .c. None of the above answers is correct .d. the equilibrium price paid by buyers rises by less than half the amount of the tax O e. the amount of tax revenue collected by the government is almost zero

If buyers pay more of a tax than do the sellers اختر أحد الخيارات a. demand is more elastic than supply b. supply is more elastic than demand .c. None of the above answers is correct .d. the equilibrium price paid by buyers rises by less than half the amount of the tax O e. the amount of tax revenue collected by the government is almost zero

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Imagine the government imposes a $30 excise tax on sellers of cell phones by charging $30 for each cell phone sold. If we have normal demand and supply curves, the price of cell phones will: Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. Rise by less than $30. b Rise by more than $30. Rise by exactly $30. d Buyers of cell phones will bear the entire burden of the tax. e Sellers of cell phones will bear the entire burden of the tax.
Question 2 Full explain this question
How does a tax on a good affect the price paid bybuyers, the price received by sellers, and the quantitysold?
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Calculate with the tax Price received by producer Quantity of cigarettes sold Price made by the consumer The tax
Suppose the government eliminates the income tax and replaces it with a consumption tax. With a consumption tax, individuals pay a tax on only the part of the income they spend rather than save. Think about the effect of this change on the market for automobiles. Can you necessarily tell what will happen to the price and quantity of automobiles? A. The equilibrium quantity will be lower and the equilibrium price will be higher. B. A consumption tax would have no effect on the market for automobiles. OC. The equilibrium quantity will be higher and the equilibrium price will be lower. D. The equilibrium quantity will be lower and the equilibrium price will be lower.
indicate whether you think the statement is true or false andexplain why. 9. Natural gas and coal are two fuels used for electricity generation and their cross-price elasticity is positive.10. A tax on gasoline will have a smaller deadweight loss if the demand for gas is inelasticthan if it is elastic.11. If the solar panel industry is competitive, the marginal firm makes zero profits in the longrun.12. The supply of goods depends on the vertical aggregation of individual demands.13. Applying dynamic efficiency to non-depletable renewable energy is not necessary becauseits quantity will not in the future.14. Given a competitive oil market and zero extraction cost, dynamic efficiency entails that thecurrent oil price equals the present discounted value of the future price.
The graph shows the market for a vital-to-life drug on which the government has imposed a tax of $2 per dose. The buyer pays the entire tax. Draw the demand curve for this drug. Label it D. the demand for the drug. OA. inelastic; the larger is the amount of the tax paid by the buyer of the drug OB. elastic; the more equally is the tax split between the buyer and the seller of the drug OC. elastic; the larger is the amount of the tax paid by the buyer of the drug OD. inelastic; the more equally is the tax split between the buyer and the seller of the drug The more esc @ AAG 2 1 O И/ # 3 C $ 4 % 5 Oll 6 & 7 O * 00 8 O ( 9 12 8- Price (dollars per dose) S+tax 10 Quantity (millions of doses per year) >>> Draw only the objects specified in the question. 0 G 36
Question 7
Suppose the market for cigarette is competitive. An economist estimates the price elasticity of demand and supply for cigarette are -0.6 and 0.8 respectively. a. Suppose the government imposes a per-unit tax on the cigarette sellers. Who, buyers or sellers, would share a heavier tax burden? Explain your answers without calculation. b. Suppose the government imposes a per-unit tax of $40 on the cigarette sellers. By how much would buyers and sellers of cigarettes share the tax burden respectively? Show your calculation. c. Suppose many small sellers, such as newsstands, complain the heavy tax burden borne by them. Would it be better to these small sellers if the government decides to impose a $20 per-unit tax on both the buyers and the sellers of cigarette? Explain.
Identify whether the statements about the economics of taxes are true or false. a. An excise tax can distort incentives and create missed opportunities for mutually beneficial transactions. b. When demand is elastic and supply is inelastic, the burden of a tax falls mainly on consumers. c. When demand is inelastic and supply is elastic, the burden of a tax falls mainly on producers. d. The incidence of a tax is determined by which group – buyers or sellers – must actually pay the gov
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