3. When there is elastic demand for a product, who holds the tax incidence? A. The government B. The buyer C. The seller D. The exporting country
3. When there is elastic demand for a product, who holds the tax incidence? A. The government B. The buyer C. The seller D. The exporting country
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
![3. When there is elastic demand for a product, who holds the tax incidence?
A. The government
B. The buyer
C. The seller
D. The exporting country
4. The demand and supply functions for product x are given, respectively, by the equations: P = 83.6
0.037 Q P = 15.7 +0.056 Q. A P10 tax per units is levied to the manufacturer. What is the price paid by
the buyer before the imposition of tax?
A. P56.59
B. P60.56
C. P730.11
D. P622.58
5. The demand and supply functions for product x are given, respectively, by the equations: P = 83.6
0.037 Q P = 15.7 +0.056 Q. A P10 tax per units is levied to the manufacturer. What is the equilibrium
quantity before the imposition of tax?
A. 56.59 units
B. 60.56 units
C. 730.11 units
D. 622.58 units
6. The demand and supply functions for product x are given, respectively, by the equations: 0.037 Q P
= 15.7 +0.056 Q. A P10 tax per units is levied to the manufacturer. What is the equilibrium quantity after
the imposition of tax?
A. 56.59 units
B. 60.56 units
C. 730.11 units
D. 622.58 units
7. The demand and supply functions for product x are given, respectively, by the equations: P = 83.6
0.037 Q P = 15.7 +0.056 Q. A P10 tax per units is levied to the manufacturer. What is the price paid by
the buyer after the imposition of tax?
A. P56.59
B. P60.56
C. P730.11
D. P622.58
8. The demand and supply functions for product x are given, respectively, by the equations: P = 83.6
0.037 Q P = 15.7 +0.056 Q. A P10 tax per units is levied to the manufacturer. What is the price received
by the seller after the imposition of tax?
A. P56.59
B. P60.56
C. P50.56
D. P70.56
9. The demand and supply functions for product x are given, respectively, by the equations: P-83.6-
0.037 Q P = 15.7 +0.056 A P10 tax per units is levied to the manufacturer. How much is the tax burden
on the part of the seller after the imposition of tax?
A. P10
B. P3.97
C. P6.03
D. P5.0
10. The demand and supply functions for product x are given, respectively, by the equations:
P=83.6-0.037 Q P=15.7+0.056 (A P10 tax per units is levied to the manufacturer. How much is the tax
burden on the part of the buyer after the imposition of tax?
A. P10
B. P3.97
C. P6.03
D. P5.0](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa89bbfa4-c7dd-4d51-95c6-e0faa7699a70%2Fb06bb8c2-e236-4384-b492-bc5765384e9d%2Fxnd4b5q_processed.jpeg&w=3840&q=75)
Transcribed Image Text:3. When there is elastic demand for a product, who holds the tax incidence?
A. The government
B. The buyer
C. The seller
D. The exporting country
4. The demand and supply functions for product x are given, respectively, by the equations: P = 83.6
0.037 Q P = 15.7 +0.056 Q. A P10 tax per units is levied to the manufacturer. What is the price paid by
the buyer before the imposition of tax?
A. P56.59
B. P60.56
C. P730.11
D. P622.58
5. The demand and supply functions for product x are given, respectively, by the equations: P = 83.6
0.037 Q P = 15.7 +0.056 Q. A P10 tax per units is levied to the manufacturer. What is the equilibrium
quantity before the imposition of tax?
A. 56.59 units
B. 60.56 units
C. 730.11 units
D. 622.58 units
6. The demand and supply functions for product x are given, respectively, by the equations: 0.037 Q P
= 15.7 +0.056 Q. A P10 tax per units is levied to the manufacturer. What is the equilibrium quantity after
the imposition of tax?
A. 56.59 units
B. 60.56 units
C. 730.11 units
D. 622.58 units
7. The demand and supply functions for product x are given, respectively, by the equations: P = 83.6
0.037 Q P = 15.7 +0.056 Q. A P10 tax per units is levied to the manufacturer. What is the price paid by
the buyer after the imposition of tax?
A. P56.59
B. P60.56
C. P730.11
D. P622.58
8. The demand and supply functions for product x are given, respectively, by the equations: P = 83.6
0.037 Q P = 15.7 +0.056 Q. A P10 tax per units is levied to the manufacturer. What is the price received
by the seller after the imposition of tax?
A. P56.59
B. P60.56
C. P50.56
D. P70.56
9. The demand and supply functions for product x are given, respectively, by the equations: P-83.6-
0.037 Q P = 15.7 +0.056 A P10 tax per units is levied to the manufacturer. How much is the tax burden
on the part of the seller after the imposition of tax?
A. P10
B. P3.97
C. P6.03
D. P5.0
10. The demand and supply functions for product x are given, respectively, by the equations:
P=83.6-0.037 Q P=15.7+0.056 (A P10 tax per units is levied to the manufacturer. How much is the tax
burden on the part of the buyer after the imposition of tax?
A. P10
B. P3.97
C. P6.03
D. P5.0
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