If the goal is to have the smallest deadweight loss, then a $1 tax should be imposed upon:    a a market with highly elastic

4) The supply curve of good A, and the supply curve if good B are both depicted in the following graph. Which statement is TRUE? Price 10- 9- 8 7 6 5 4- 3- 2 k 0 0 Supply A Supply B 100 200 300 400 500 600 700 800 900 1,000 Quantity Supply of good B is more elastic than the supply of good A. Supply of good A is unit elastic. Supply of good B is perfectly inelastic. Supply of good A is more elastic than the supply of good B.

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.

. Which statement best explains how a price ceiling affects the market for gasoline? It can cause more gasoline producers to enter the market. It can lead to producers increasing their production costs for gasoline. It can cause shortages in the supply of gasoline. It can lead to a decrease in the demand from consumers for gasoline.

3. The government of a small country needs to raise money to fund school improvements. It is considering implementing a tax on rice to raise money. (a) Using a supply and demand diagram, explain why the tax will cause a deadweight loss. (b) Rice is an important part of its citizens' diet and has a demand elasticity of –0.2. Cars are a luxury good and have a demand elasticity of –3. Assume both rice and cars are imported into the country so supply is perfectly elastic. Which tax will cause a greater deadweight loss? Explain why using economic arguments. Which good do you think the government should tax? Why? Your explanation can incorporate whatever reasons you think are important.

16- What is the price elasticity of supply for a good that sees a 1% increase in quantity supplied for a 5% increase in price?  0.2 1 4 5 6

A sales tax is imposed on good A. The supply of good A is not perfectly elastic or perfectly inelastic. Suppose that the demand for good A becomes more inelastic. (a) Will the tax burden on sellers increase or decrease? (b) Will the DWL increase or decrease?