Macroeconomics
13th Edition
ISBN: 9780134735696
Author: PARKIN, Michael
Publisher: Pearson,
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Question
Chapter 6, Problem 14APA
a)
To determine
Price and quantity without
b)
To determine
The effect of tax and tax incidence.
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Students have asked these similar questions
Market for Game Consoles
600
Tools
550
500
CS
PS
450
400
350
ESeq
300
250
200
150
100
50
D
10 20 30 40 50 60 70 80 90 100110
Quantity
a. What is the quantity demanded at $150 per game console?
Quantity demanded:
20 game consoles
b. What is the quantity supplied at $150 per game console?
Quantity supplied:|
80 game consoles
c. What is the consumer surplus generated at a price of $150 per game console?
Instructions: Use the tool provided "CS" to illustrate this area on the graph.
Consumer surplus: $
30000
d. What is the producer surplus generated at a price of $150 per game console?
Instructions: Use the tool provided “PS" to illustrate this area on the graph.
Producer surplus: $
3750
e. What is total economic surplus at a price of $150 per game console?
Economic surplus: $
33750
f. What is the economic surplus generated if the market were in equilibrium?
Instructions: Use the tool provided “ESeg" to illustrate this area on the graph.
Economic surplus in equilibrium: $
56250
Price…
37. Which of the following factor is affecting supply negatively?
a.
Tax
b.
Technology
c.
Subsidy
d.
Favorable climate
1.The demand and supply schedules for coffee are given in the table.
a.If there is no tax on coffee, what is the price of a cup of coffee and how much coffee is bought?
b.If a tax of 75¢ a cup is introduced, what is the price of a cup of coffee and how much coffee is bought? Who pays the tax?
Chapter 6 Solutions
Macroeconomics
Ch. 6.1 - Prob. 1RQCh. 6.1 - Prob. 2RQCh. 6.1 - Prob. 3RQCh. 6.1 - Prob. 4RQCh. 6.2 - Prob. 1RQCh. 6.2 - Prob. 2RQCh. 6.2 - Prob. 3RQCh. 6.2 - Prob. 4RQCh. 6.2 - Prob. 5RQCh. 6.3 - Prob. 1RQ
Ch. 6.3 - Prob. 2RQCh. 6.3 - Prob. 3RQCh. 6.3 - Prob. 4RQCh. 6.3 - Prob. 5RQCh. 6.4 - Prob. 1RQCh. 6.4 - Prob. 2RQCh. 6.4 - Prob. 3RQCh. 6.4 - Prob. 4RQCh. 6.4 - Prob. 5RQCh. 6.5 - Prob. 1RQCh. 6.5 - Prob. 2RQCh. 6.5 - Prob. 3RQCh. 6.5 - Prob. 4RQCh. 6 - Prob. 1SPACh. 6 - Prob. 2SPACh. 6 - Prob. 3SPACh. 6 - Prob. 4SPACh. 6 - Taxes (Study Plan 6.3) 5. The table in the next...Ch. 6 - Prob. 6SPACh. 6 - Prob. 7SPACh. 6 - Prob. 8SPACh. 6 - Prob. 9APACh. 6 - Prob. 10APACh. 6 - Prob. 11APACh. 6 - Prob. 12APACh. 6 - Prob. 13APACh. 6 - Prob. 14APACh. 6 - Prob. 15APACh. 6 - Prob. 16APACh. 6 - Prob. 17APACh. 6 - Prob. 18APACh. 6 - Prob. 19APACh. 6 - Prob. 20APACh. 6 - Prob. 21APACh. 6 - Prob. 22APACh. 6 - Prob. 23APA
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