Suppose the government wants to maximize tax revenue. Some policymakers suggest taxing cigarettes, and some suggest taxing rich foods, like burgers and pizza. What would you recommend? Why? Defend your stance. give graph if needed

Q: Give an example of a product that has inelastic demand and elastic supply in the market to price. If…

A: An inelastic demand is defined as one where a change in price does not significantly impact demand…

Q: Define progressive tax.

A: A tax refers to an amount imposed on the person, commodities or any other item to earn revenue for…

Q: What happens to a country's economy if there is a high tax for the company that earns more in that…

A: Taxes are the mandatory payments that has to he made to the government.

Q: The tax on cigarettes in New York City is one of the highest in the nation—$5.85 per pack. What are…

A: Tax is a mandatory unilateral or one way payment made by the public towards the government in the…

Q: Price Таx A B Amount of the tax Quantity Click to view Jarger image

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Your politician friend wants to do a survey to find out the impact of a tax on wealth held by…

A: Answer - Need to find - Reasons that survey might be misleading  The reasons survey might be…

Q: How can the government improve tax collections without imposing much tax to the consumer?

A: When a taxing body, typically a government, levies or imposes a financial responsibility on its…

Q: Taxing a good with very elastic demand generates more deadweight loss than taxing a good with very…

A: In the case of Taxing a good with very elastic demand generates more deadweight loss as under…

Q: If the government wants to use a Pigouvian tax to alleviate the problem of obesity contagion, what…

A: We are going to discuss ways to minimize negative externalities.

Q: "In South Africa, the tax on insulin is between 10 and 20 percent. If you are rich and living in…

A: Introduction this topic related to Insulin which is consumed by diabatic person's.

Q: Analyse using a demand and supply diagram the effect of introducing tax on gym membership

A: Meaning of Demand and Supply: The term demand refers to the willingness of an individual to…

Q: What are pros and cons to increasing the gasoline tax?

A: Taxes are unintended fees placed on individuals or companies and levied by a government agency –…

Q: Which of the following is an example of an exemption?

A: Exemptions are mentioned in the law and these exemption reduces the taxable income. Government…

Q: Do you think that dead weight loss of soda junk food tax would be relatively large or relatively…

A: Deadweight loss is a measure of loss of efficiency and it occurs when the demand and supply is not…

Q: Suppose the supply curve for cars is more elastic than the demand curve for cars.  If the government…

A: Tax incidence can be shifted only through sale and purchase transaction.  Share of tax borne by the…

Q: what 2 major strategies you could recommend to the government to turn around the culture of…

A: Corruption is when persons in positions of power, such as managers or government officials, act…

Q: why do comsumers pay the tax on goods if the elasticity of demand is less than the elasticty of…

A: Demand is said to be inelastic when the change in price leads a change in quantity demanded in…

Q: Determine government revenue and dead weight loss after tax.

A: Taxes are imposed on individuals or companies involuntarily to fund government operations by a…

Q: Question 26     Suppose the government puts a cigarette tax of $ 1 per pack.  In response to this…

A: We are going to explain and answer how to calculate tax burden on consumer to answer this question.

Q: One rationale for imposing taxes on alcohol consumption is that people who drink alcohol impose…

A: Introduction: Many people regard alcohol as the life of the party, but it is also regarded as a…

Q: If the government places a tax of $500 on luxury cars, what happens in the market? Please assume…

A: Demand refers to the quantity that a consumer wishes to purchase at a given price in a given period…

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: 2. Suppose the government wants to maximize tax revenue. Some policymakers suggest taxing…

A: Tax revenue is maximized with the help of increase in tax.

Q: Caffeine is a highly addictive drug found in coffee, tea, and some sodas. Unlike cigarettes,…

A: The effectiveness of taxes on controlling consumption depends oñ the extension of demand or the…

Q: Daniel Patrick Moynihan, the late senator from New York, once introduced a bill that would levy a…

A: A 10,000 percent tax on bullet will not likely to generate a lot of revenue.  The reason is as the…

Q: Suppose that the supply of oil is elastic and demand for oil is inelastic. If the government taxes…

A: Buyers will bear most of the burden of tax.

Q: benefits of subsidies

A: A subsidy is an incentive given by the government to individuals or businesses in the form of cash,…

Q: Does the Constitution create the power for the State to tax? Justify.

A: In an economy/society, various economic, social and political principles and rules are implemented…

Q: Churches have been considered as lucrative business in the country. Do agree with the idea that…

A: At the marketplace, lucrative business refers to. The one that has the ability to generate profit…

Q: The tax on cigarettes in New York City is the higher in the nation--$5.85 per pack.  Does this tax…

A: The tax on cigarettes in New York City is %5.85 that is higher. This tax does not raise a lot of…

Q: Why do producers have more interest in government regulations than consumers do?

A: Government regulations are those laws and rules which are used for placing limitations on businesses…

Q: the market for candy, researchers have estimated the following demand and supply curves.  Demand:…

A: Equilibrium is achieved at the output level where Qs equals Qd

Q: The demand for the product S is Q = 500 – 8P and its supply is Q = 200 + 4P. The good is currently…

A: Demand function = 500-8PSupply function   = 200 + 4P Excess burden is the deadweight loss caused by…

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.

Q: Complete the following table with the tax revenue collected and deadweight loss caused by each of…

A: Given the two graphs, each one of them is shaded with the tax revenue in green and deadweight loss…

Q: To raise revenue, the mayor decides to charge hotels a tax of $10 per rented room. After the tax is…

A: (a) Tax revenue = Unit tax x After-tax quantity = $10 x 900 = $9,000 (b) DWL = (1/2) x Unit tax x…

Q: The side of the market with the relatively higher elasticity will face more of the tax burden.…

A: The tax burden is inversely related to elasticity. The side of the market with the relatively higher…

Q: do taxes generate the revenue?

A: Revenue: It refers to the extra benefits that a business can earn. These extra benefits will help…

Q: A county government has decided that it needs to generate more revenue to pay for repaving all of…

A: The government collects taxes to finance its expenditure incurred while adopting various…

Q: Scenario...Recently there has been discussion in the news about taxing junk food (soft drinks, for…

A: If policymakers are trying to reduce the incidence of obesity by imposing a tax on junk food, then…

Q: QUESTION 1. With the help of a numerical example, explain why California and Maine tax cannabis by…

A: 1) The reason behind California and Maine tax cannabis by weight rather than by price is the…

Q: As price elasticity of demand increases, the burden of a tax gets _______; as price elasticity of…

A: Price elasticity of demand: It can be define as the ration of percentage change in quantity demanded…