2. The demand and supply functions of a gcod are given by P = -Qd + 125, 2P =3Qs + 30. Determine the equilibrium price and quantity. Determine ako the effect onthe market equilibrium if the govemment decides to impose a fixed tax of GHC5 on eachgood Who pays the tax? (p = 81, q = 44, then p = 83, q = 42)3. If fixed costs are 18, variable costs per unit are 4, and the demand function is P = 24 -2Q. Obtain an expression for n in terms of Q and hence sketch a graph of n against Q.a) For what values of Q does the firm break even? (q = 1 or 9)b) What is the maximum profi? (n = 32 at q = 5)4. Given the supply and demand functionsP = Q? + 12Q, + 32,P = -Qå - 4Qa + 200,Calculate the equilibrium price and quantiy. (p = 140, q = 6)

As you have not mentioned the exact question to answer as per our policy I am answering second…

2. The demand and supply functions of a gcod are given by P = -Qd + 125, 2P = 3Qs + 30. Determine the equilibrium price and quantity. Determine ako the effect on the market equilibrium if the govemment decides to impose a fixed tax of GHc5 on each good Who pays the tax? (p = 81, q = 44, then p = 83, q = 42)

2. The demand and supply functions of a gcod are given by P = -Qd + 125, 2P = 3Qs + 30. Determine the equilibrium price and quantity. Determine ako the effect on the market equilibrium if the govemment decides to impose a fixed tax of GHc5 on each good Who pays the tax? (p = 81, q = 44, then p = 83, q = 42)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

Question 40 Please refer to the description of a tax on a market, represented by the graphic Consumer surplus before the tax is represented by the area(s). Check all that apply. O H O E L.
2. Suppose the price.elasticity of demand for commödity M is less than one. When a tax is imposed on commodity Mproduetion, it changes the price, quantity, and consumer speņding in which of the following ways? - Price Quantity Spending Irierease Decrease Decreàse. Therease Ancrease a. Increase- b. -Deerease Decrease Decrease Decrease - Decrease Iacrease
help please answer in text form with proper workings and explanation for each and every part and steps with concept and introduction no AI no copy paste remember answer must be in proper format with all working
Based on the following graph, identify the loss in consumer surplus when price changes from 12 to 15. P 000000 A ao o oÔ - - ס - 15 12 8 A B D F 10 C E 20 S1 D1
Plz solve all parts, i vll definitely upvote
I need the answer as soon as possible
Now let's see what happens when demand is perfectly elastic. In this case, the demand curve for photocopies is horizontal at a price of $10. On the diagram, shift the appropriate curve to illustrate the impact of a $2 per-unit tax placed on sellers. S • / CO Price 16 15 14 13 12 11 10 9 8 7 6 5 4 3 2 1 0 pa S Photocopies O 6 3 3 6 438 Quantity
QUESTION 12 Figure 24 P P" P Price K L M N B Supply Demand Quantity Refer to Figure. Assume that the government imposes a tax of P-P". The area measured by L+Y represents the O a. deadweight loss due to the tax. O b. total surplus before the tax. Oc loss in consumer surplus due to the tax O d. loss in producer surplus due to the tax. QUESTION 13 Which one of the following combinations will have the highest deadweight loss? O a. The market that has inelastic supply and inelastic demand. O b. The market that has elastic supply and elastic demand Oc The market that has elastic supply and inelastic demand Od. The market that has inelastic supply and elastic demand.
The demand for gasoline is P= 4 – 0.002Q and the supply is P= 0.4 + 0.004Q, where Pis in dollars and Qis in gallons. Instructions: Round your answer to the nearest penny (2 decimal places). If a tax of $0.8/gallon is placed on petrol, what is the incidence of the tax? Tax incidence to the consumer: $ Tax incidence to the supplier: $ Instructions: Round your answers to the nearest whole number. What is the lost consumer surplus? $1 What is the lost producer surplus? 24
Suppose the demand curve for a good is highly elastic and the supply curve is highly inelastic. If the government taxes this good, O buyers and sellers will each share 50 percent of the burden, regardless of the elasticities of the demand and supply curves. sellers will bear a larger share of the tax burden. the distribution of the burden will depend upon whether the buyers or the sellers are required to send the tax to the government. buyers will bear a larger share of the tax burden.
can you help me with thia qustion Doug William, the owner of a corner store, estimates that the supply and demand for a specialized energy drinkcould be described by the following equations D : q=−25 p+345 , S : q=50 p−330,where p represents the price in dollars per case (each case contains 12 bottles), and q represents the number ofcases sold each week (a) Determine the market equilibrium price and quantity.
The demand of a produa y depor another product X (P.). The price elasticity of with respect to X is *-0.8. (a) Are X and Y substitutes or complement? **rice the price of and the cross-u ofr (b) Suppose now P, increases by 2%, and P. decreases by Sh **** Will the quantity demanded of y increase or decrease cont