Question 16 Suppose the market demand for a good takes the form: Q=100-2P X and market supply takes the form: Q=-50+3P Suppose a $5 per unit tax is applied to sellers in the market. What is producer surplus after the tax? Selected Answer: 1875 Question 17 Suppose the market demand for a good takes the form: =100-2P and market supply takes the form: Q=-50+3P Suppose a $5 per unit tax is applied to sellers in the market. What is total surplus after the tax? Selected Answer: 2750 Question 18 Suppose the market demand for a good takes the form: Q=100-2P and market supply takes the form: Q=-50+3P Suppose a $5 per unit tax is applied to sellers in the market. What is the deadweight loss from the tax? (Hint: calculate directly, using too many rounded values may lead to an inaccurate answer) Selected Answer: 37.5

Question 16 Suppose the market demand for a good takes the form: Q=100-2P X and market supply takes the form: Q=-50+3P Suppose a $5 per unit tax is applied to sellers in the market. What is producer surplus after the tax? Selected Answer: 1875 Question 17 Suppose the market demand for a good takes the form: =100-2P and market supply takes the form: Q=-50+3P Suppose a $5 per unit tax is applied to sellers in the market. What is total surplus after the tax? Selected Answer: 2750 Question 18 Suppose the market demand for a good takes the form: Q=100-2P and market supply takes the form: Q=-50+3P Suppose a $5 per unit tax is applied to sellers in the market. What is the deadweight loss from the tax? (Hint: calculate directly, using too many rounded values may lead to an inaccurate answer) Selected Answer: 37.5

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Given the following information: QD= 240-5P QS= P Where QD is the quantity demand, QS is the quantity supplied and P is the price. Suppose the government decides to impose tax of $12 per unit on sellers in the market. Determine: Consumer surplus after tax _____________.
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1) Describe in detail how taxes impact consumer and producer surplus. In your discussion, also show graphically, the before and after-tax impact.
The Health Ministry is evaluating the data of the soft beverages market. Demand function: QD=290−5P Supply function: QS=−60+5P (a) Find the Total Surplus. The authority is concerned about the increasing obesity rate in the country. Hence, they have decided to impose a tax of TK 10 per unit on soft drinks. (b) What is the total new consumer surplus and producer surplus after government intervention? Note: Bartleby does not accept more than 3 sub-parts, and here are only 2. Please answer all to get a 'like'. Thanks.
Only typed answer
Answer is 10,786.8
Suppose an additional "special" tax of $0.10 per litre is imposed on the sale of gasoline in one province. Prior to the tax the price was $1.30 per litre and 10 million litres of gasoline are sold per day. After imposition of the tax, the new equilibrium price and quantity are $1.38 per litre and 9.6 million litres per day. What is the direct burden of this "special" tax?
(ALL OWNERSHIP GOES TO CENGAGE) The following graph represents the demand and supply for blinkies (an imaginary product). The black point (plus symbol) indicates the pre-tax equilibrium. Suppose the government has just decided to impose a tax on this market; the grey points (star symbol) indicate the after-tax scenario. (images below)
Suppose that a tax of $6.00 is imposed on this market, what is the tax revenue?
Soft drink producer's operation in each week produces q liters of mineral water at a cost of ag) = 2000 + 5g+ 0.001q dollars, selling its output at $15 a liter. The government decides to levy a tax of r dollars a liter on the producer's output, knowing that the producer will adjust the output to maximize its profit with respect to changed situations. a. What is the government's maximum tax revenue T= rq , and at what tax rate is achieved (? 5. b) Investigate the relationship between producer's maximum profit change and tax ? c. C) discuss the situation .
Consider the demand curve as in tutorial 12 (question 1), qd = 240 - 3p, where q is the quantity demanded and p is the price. The supply curve is given by qs = p - 6. If a specific (or per-unit) tax of $20 is imposed on sellers, how much tax revenue does the government raise in this market? [Round to one decimal place in both your calculations and in your final answer; Note: both the supply curve and the tax are different from the tutorial question.]
18) Which of the following options best describes tax incidence? A) It equals to the loss in the social welfare measured by total surplus. B) It shows how tax burden is shared by buyers and sellers. C) It equals to the sum of new consumer and producer surplus resulted from tax. D) It is revenue government agency collects from buyers and sellers from imposing per unit tax.