2018161412Sapply10Demand163248648096112Suppose that a $6 tax is imposed on consumers in the market depicted above.What is the tax incidence?a. 1/3b. 3/4c. 2/3d. 1/2 Supply +taxDemandSupplyH,What is the tax incidence for consumers?a. 1/2b. 1c. infinityd. 0

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ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Suppose that the demand for CDs is very price elastic and the supply is very price inelastic. A per unit tax imposed on CDs would be borne a. equally by buyers and sellers. b. more heavily by buyers. c. more heavily by sellers. d. by neither buyers or sellers.
Price 65 60 55 50 45 40 35 30 25 20 15 10 5 0 0 50 100 Type your answers in all of the blanks and submit X, X' S2- the market, the equilibrium quantity is 200 Type your answer here 150 200 Quantity in total tax revenue. DI 250 S₁ 300 Consider the market in the figure where D1 denotes demand and S1 denotes supply. When a unit tax of 15 is imposed on sellers in 350 The government collects 400
Which of the following statement is true about tax? A. The burden shared by consumers and producers doesn’t change regardless of which party the tax is imposed onB. Market functions less efficiently, while not all suffer from a lossC. Both supply and demand curve have something to do with tax incidenceD. all of the above
Question 44 Please refer to the description of a tax on a market, represented by the graphic .. The amount of deadweight loss as a result of the tax is represented by the area(s) Check all that apply. F C. E.
What is the buyers’ share of the burden of the tax _______?
Price a. A. b. B. c. B+C+E + F. d. B + C. e. C. PB Po Ps L AIBI А C 15 Size of tax per unit W Qo Supply Demand Quantity If a tax is placed on the product in this market, tax revenue paid by the buyers is the are
Suppose the market for cigarette is competitive. An economist estimates the price elasticity of demand and supply for cigarette are -0.6 and 0.8 respectively. a. Suppose the government imposes a per-unit tax on the cigarette sellers. Who, buyers or sellers, would share a heavier tax burden? Explain your answers without calculation. b. Suppose the government imposes a per-unit tax of $40 on the cigarette sellers. By how much would buyers and sellers of cigarettes share the tax burden respectively? Show your calculation. c. Suppose many small sellers, such as newsstands, complain the heavy tax burden borne by them. Would it be better to these small sellers if the government decides to impose a $20 per-unit tax on both the buyers and the sellers of cigarette? Explain.
The incidence of a tax falls more heavily on: A. Consumers than producers if demand is more inelastic than supply B. Producers than consumers of supply is more inelastic than demand C. Consumers than producers if supply is more elastic than demand D. All of the above are correct
Figure 8-5 Price P3 P1 P₂ a. A C. B d. D F -Tax- G 92 C E P2 and Q2 o b. P2 and Q1 X P1 and Q1 P3 and Q2 H Refer to Figure 8-5. What is the price sellers receive after the tax and the quantity sold? 9₁₂ S Quantity
A per unit tax is imposed on the seller that shifts the supply curve to the left. Ceteris paribus, the greater the elasticity of demand, the ______. Select all that apply. A. smaller is the burden of the tax on the consumers. B. larger is the burden of the tax on the consumers C. smaller is the burden of the tax on the producers D. larger is the burden of the tax on the producers
Tax incidence refers to ? A. the average tax rate. B.how much revenue a tax generates. C.the extent to which a tax is proportional. D. who bears the burden of a tax.
Question 4 Figure #3: The graph below represents a $10 per unit tax on a good then the amount bought and sold in the market is only 4 units. Note that Q represents quantity and P represents price. P. 24 20 A 16 Supply 12 GIH 8. 4. K M Demand 4 6 10 12 14 16 Refer to Figure #3. The government collects tax revenue that is (or are) the area(s) represented by the area OF-G-L OL OB-D Oc-F

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20 18 16 14 12 Sapply 10 Demand 16 32 48 64 80 96 112 Suppose that a $6 tax is imposed on consumers in the market depicted above. What is the tax incidence? a. 1/3 b. 3/4 c. 2/3 d. 1/2 Supply +tax Demand Supply H, What is the tax incidence for consumers? a. 1/2 b. 1 c. infinity d. 0