16 12 co 5 сл 2 20 Reference Ref 4-13 40 O C. $70 OD $210 60 D (Figure: Determining Surplus and Loss) Consider the graph. If the the government imposes a price floor of $12, calculate the total suplus. OA. $20 B. $280
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Reference: Ref 4-13
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(Figure: Determining Surplus and Loss) Consider the graph. If the the government imposes a price floor of $12,
calculate the total suplus.
OA. $20
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- COURSE: MICROECONOMICS - TAX REGULATIONS The local diesel market is represented by Q = (912 - P)/12.5 and Q = (P - 315)/11where P is in dollars (USD) per liter of fuel and Q shows liters of fuel (in millions). Currently a tax of USD 130 per liter of diesel is charged.It is requested:(a) Calculate the amount (Q) that is transacted after the tax has been applied.b) Show in detail the calculations of a). Is there any difference between the price observed by suppliers and demanders? If so, what is the price observed by the producer and what is the price observed by the consumer? how much is the government's revenue? If there is an efficiency loss, how much is it? GRAPHc) At present, there are arguments in favor of increasing the tax on diesel and others in favor of decreasing it (at least temporarily). Mention at least ONE argument in favor of increasing this tax and ANOTHER argument in favor of decreasing it. And finally, conclude in favor of which argument you are in favor of.USB memory sticks have become popular with Canadian computer users because they offer flexibility for users to move data easily from one computing device to another. Figure 1 below shows the domestic Canadian USB memory stick market. Use this information to answer the questions below. Figure 1: Canadian USB Memory Stick Market Price ($) QD Qs Per Flashdrive Millions of Units 20 6. 18 1 16 2 4 14 3 3 12 10 1 8 6. 7 4 8. 2 10 a) What is the domestic equilibrium price and quantity of USB memory sticks in Canada? Assume the Canadian USB memory stick market is an 'autarky' market (i.e. all USB memory sticks purchased by Canadian consumers are manufactured by Canadian USB memory stick suppliers). What is the total market size (i.e. total revenue or TR)? What is the consumer surplus (CS), producer surplus (PS) and total surplus (TS)? b) The Government of Canada is interested in promoting international trade. The federal government has opened the Canadian market to suppliers of USB memory…Price (per bushel) $10 9 8 7 6 543 2 1 0 x 2 4 6 8 10 12 Quantity of wheat (thousands of bushels per period) Reference: Ref 3-6 Figure: The Demand and Supply of Wheat S B) shortage; 2,000 (Figure: The Demand and Supply of Wheat) Use Figure: The Demand and Supply of Wheat. A temporary price of $4 in this market would result in a _________of________ bushels per period. OA) surplus; 4,000 C) shortage; 4,000 D D) surplus; 2,000
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