P0 =R200;Ps =R160;Pm =R300;Q1 =2800;Q0 =3200 Calculate supplier’s revenue before tax    Calculate the supplier’s revenue after tax   Calculate the total tax revenue collected by the government

Q: Suppose the following demand and supply function: Qd = 750 – 25P Qs = -300 + 20 P            Find…

A: Consumer surplus is used to represent the total amount that a consumer saves because of the…

Q: Price Amount Requested (Unit) Amount Offered (Unit) (IDR) 2400 2000 120 180 160 150 Based on the…

A: We derive the demand and supply curves first. Amount requested refers to quantity demanded and…

Q: Price elasticity of demand (PED): Applications of concepts of elasticity PED and business…

A: Prive elasticity of demand refers to the percentage change in quantity demanded due to percentage…

Q: The supply for gasoline is more elastic than the demand of gasoline. If gasoline is taxed $1 per…

A: The question is asking about the division of tax burden between buyers and sellers when a tax is…

Q: Discuss the need for, and problems associated with the administration of subsidies

A: A government subsidy is a direct or indirect payment, economic concession, or privilege given to…

Q: The market for N-95 masks is perfectly competitive. Market Demand is given by Q=464-2P and Market…

A: Given :  Demand :Q = 464 - 2 P  Supply : Q = 5P

Q: Price (dollars per case) $33.25 27 22 20 0 Tax 50 90 Supply with tax Supply Demand Quantity…

A: Excess tax burden is the economic cost of government taxes. The implementation of the tax falls on…

Q: - Now suppose that the Demand curve is actually slightly more inelastic, and the Supply curve is…

A: (Since you have posted multiple sub-parts, we will answer the first three for you. If you want a…

Q: What is indirect tax? Write its four definitions.

A: Tax is compulsory contribution on the wealth of a person or a body of person for the services of the…

Q: In the diagram to the right, illustrating a per-unit tax equal to P, minus P3, tax and the excess…

A: From the graph, we can say  Q1 and P1 is the equilibrium quantity and price when there is no tax.…

Q: - The greater the elasticities of demand and supply the:

A: As per fundamental economic hypothesis, the supply of a goods increment when its value rises. Then…

Q: Refer to Figure 8-6. What would happen to consumer surplus if the tax were imposed on the buyer? It…

A: Consumer surplus is the area below demand curve and above price.    Equilibrium is where demand…

Q: Elasticity and Tax Revenue Choco Cookies sell for $40/box, of which $10 consists of tax, and 66,666…

A: *Answer:

Q: With a tax of Rs4/unit,the price of the good rises from Rs5/unit to Rs9/unit. Which of the following…

A: The market price of a good was Rs5 (before tax) It means the price paid by consumer (before tax) is…

Q: Calculate the size of the deadweight loss associated with this tax. ->

A: The demand curve is the graphical representation of the relationship between the quantity demanded…

Q: If a tax of $1.20 is imposed on consumers in this market, what is the tax revenue?

A:

Q: Given: QD = 160 -5P QS = -11 + 4P In addition, the government imposed a $3.00 tax on the buyer.…

A: Equilibrium is  achieved where quantity demand by consumers equals quantity supplied by the…

Q: If the government places a tax of $0.50/unit in each market, which market will generate the greatest…

A: Placing a tax on a good, shifts the supply curve to the left. It leads to a fall in demand and…

Q: Diffrentiate between direct tax and indirect tax

A: Tax is compulsory payments which is made to government, There is no direct quid pro quo. or taxpayer…

Q: Assume that the elasticity of demand for fanta is -0.8 while the elasticity of supply is 0.4. What…

A:

Q: An excise duty imposed on a single commodity falls entirely on the consumer if the: A supply curve…

A: The incidence of tax tells us the distribution of the effect of tax between consumer and producer.…

Q: Assuming a $7 per unit tax is imposed, the welfare loss to consumers will be $______.     a) 10…

A: Demand curve is the downward sloping curve.  Supply curve is the upward sloping curve.  Equilibrium…

Q: 90 Excise Tax (0- $20) 0.00 80 $81.00 70 Demand Relatively Elastic 60 Perfectly Inelastic 50…

A: Given Diagram

Q: Qd=160-5P and QS=-11+4P. Governement imposed a tax of $3.00 on the buyer. Calculate: a. Producer…

A: Producer surplus is the difference between the price he was willing to let his property out and what…

Q: Refer to Figure 8-2. The amount of tax revenue received by the government is a) $10. b) $1.

A: Tax is a mandatory payment to the government. The tax amount is spent on the economy through public…

Q: government increase VAT on some commodities in order to raise revenue the market for X was at…

A: Given: The per-unit tax rate is = $50  The quantity sold was = 5,000 units The price elasticity of…

Q: The reason which determines the elasticity of tax burden on buyers and sellers.

A: Elasticity determines who will bear the burden of taxes: buyers or sellers. When Demand is more…

Q: Consider a market with the following demand and supply curves:…

A: Given: The demand curve for a market is: Qd = 20 - 2P The supply curve for a market is: Qs = -10 +…

Q: n an unregulated, competitive market we could calculate consumer surplus if we knew the equations…

A: Consumer surplus refers to the difference between the prices that consumers are willing to pay for a…

Q: Why is tax necessary for the government? Substantiate your answer in 2 paragraphs

A: A country is controlled by it's government

Q: Find the consumer surplus and producer surplus. Demand p= 100-0.00006x Supply p= 90+0.00004x

A: Consumers surplus is the difference between the maximum price a consumer is willing to pay and the…

Q: Tax Incidence

A: Tax is primarily the income of the government. It will be levied on the people.

Q: The demand curve for prepaid internet services is given by Pd = 80 – 0.2Q and the supply curve is…

A:

Q: When the price of demand is high and the price elasticity is low the burden of a tax falls primarily…

A: Elasticity of demand depicts how much consumer responds with the change in price.