Suppose that the demand for a good is described by the inverse demand function p = 10 - 3q and the supply of the good is given by the inverse supply function  p = 2 + 2 q: Q:Determine the incidence of the tax, who bears what shares of the tax (in percentage)?

Consider the market for pork illustrated in the graph. Suppose initial demand (D') is Q = 290 – 20p and supply (S') is Q = 80 + 40p and that a $3.00 tax is charged to consumers, shifting the demand curve to D. Using the original and after-tax pork demand functions and the supply function, derive the initial equilibrium price and quantity and the after-tax equilibrium price and quantity. %24 (Enter all responses using real numbers rounded to two decimal places) The equilibrium price is initially $ per kg. P1 ey P2 D2 D1 Q2 Q, Q. Million kg of pork per year SEP 24 30 tv Help Me Solve This Text Paces HAT More Hein ear All MacBook Air 80 DII esc F10 F11 F3 F4 F5 F6 F7 F8 F9 F1 F2 @ # $ & * 1 3 4 5 6. 7 8. P P. S per kg >

In the market for candy, researchers have estimated the following demand and supply curves.  Demand: P= 8 - Q/100 Supply:    P=  (3Q)/700 If the government imposes an excise tax of $0.50 per unit. What is tax revenue out of this tax? (Remember that the tax does not change the demand and supply curves).

The following graph represents the demand and supply for an imaginary good called a pinckney. 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.   Complete the following table, given the information presented on the graph. Result Value Per-unit tax   Price producers receive before tax   Equilibrium quantity after tax     In the following table, indicate which of the previous graph’s areas corresponds to each concept. Check all that apply. Concept A B C D E F Producer surplus  after  the tax is imposed               Tax revenue after the tax is imposed               Consumer surplus  after  the tax is imposed

Consider the market for BP gasoline. If the market has a very elastic supply and a very inelastic demand, how would the burden of a tax on BP gasoline be shared between producers and consumers? Draw a graph to support your answer.

The following graph represents the demand and supply for pinckneys (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.   Complete the first table, given the information presented on the graph.   In the second table, indicate which areas on the previous graph correspond to each concept. Check all that apply.

Doyle and Samphantharak (2008) find that when a 5% gas tax is implemented, prices consumers pay for gas increase by about 4%. What role does demand elasticity play in determining the size of this price change? That is, under what demand elasticity cases would the price change be closer to 5%, or closer to 0%? Illustrate and explain using supply-and-demand graph(s)..

Suppose demand and supply are given by:Qx d = 14 −  2Px and Qx s = 14Px-2b. Suppose a $12 excise tax is imposed on the good. Determine the new inverse demand function.

estion F Draw a graph that illustrates a demand-pull inflation. Price level (GDP deflator, 2012 = 100) The graph shows the aggregate demand curve, aggregate supply curve, and the potential GDP line. Potential GDP 140- Draw a curve that shows the effect of an increase in the quantity of money. Label it C,. Draw a curve that shows the money wage rate response that returns the economy to potential GDP. Label it C2. 130- Draw a curve that shows the effect of another increase in the quantity of money. Label it C3. 120- Draw a curve that shows the money wage rate response that returns the economy to potential GDP. Label it C4 AS Draw a point at the new price level and real GDP when the economy returns to its new long-run equilibrium. 110 110- 100- AD 20.0 90+ 18.0 18.5 19.0 19.5 20.0 20.5 21.0 21.5 22.0 Real GDP (trillions of 2012 dollars) >>> Draw only the objects specified in the question. Click the graph, choose a tool in the palette and follow the instructions to create your graph.…

Question 4 Consider the following supply and demand functions in a market: p=12-2Q p=2Q Suppose the government imposes a tax rate t*=4 on demand. Compute the total legal tax burden (incidence) on producers (after tax t* is imposed). (Enter your answer to one integer. For "8", you would write 8).