543.532Use the graph to answer the question that follows.Price ($)III360540What is the value of the producer burden of the tax in this market?$90$180$360$540O $720QuantitySS

The area from 3 to 3.5 ,360 represents the producer tax burden the value is given by finding the…

Answered: 5 4 3.5 3 2 Use the graph to answer the…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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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
Figure 8-6 The vertical distance between points A and B represents a tax in the market. ↑ Price Supply Demand 100 200 300 400 500 600 700 800 900 1000 Quantity Refer to Figure 8-6. What happens to producer surplus when the tax is imposed in this market? a. Producer surplus falls by $1,800. Ob. Producer surplus falls by $600. Oc. Producer surplus falls by $2,100. d. Producer surplus falls by $900. 22 20+ 18 16 14 12 10 8 6
With respect to the sources of state tax revenue, the corporate income tax generates approximately twice the revenue as state sales and use taxes. O True O False
(Answer the E) Its is known that the demand function for a product is P = 24 - 1/2Q and the supply function Q = 4 + 2PIts is known that the demand function for a product is P = 24 - 1/2Q and the supply function Q = 4 + 2P If the government provides a subsidy for tge product of Rp 10/ unit of goods, what is the price and quantity of goods in balance new E. Calculate the amount of subsidy received by consumers and manufacturers , as well subsidies issued by the government *Rp : Indonesian currency
I. Refer to the following Graphs a.) When a per unit tax is imposed on the consumer of the product, identify how the consumer and producer surplus changes, identify the deadweight loss and the amount of the total tax that will be received by the government. Price PTax B C PE F G E I P1 Dm1 H K DmTax QE QE2 Quantity Producer Surplus before tax = Consumer Surplus before tax = Producer Surplus after tax = %3D Consumer Surplus after tax = Deadweight Loss Total Tax
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 _______?
(Figure: Determining Tax Burdens) Based on the graph, the original market price is $4. The graph depicts a tax of with a corresponding deadweight loss of Price ($) 98765432 T X D 0 50 100 150 200 250 300 350 400 450 500 550 600 Quantity $6; $3 $3; $150 $6; 50 units $3; $75
7
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
Why must local governments pay attention to the types of products they tax. Describe in detail how the elasticity of these products impacts the expected revenue to be generated by these local Governments
The vertical distance between points A and B represents the original tax. 12+ 11+ 10 9 8 7. 6 Price 2 1 D 05 1 15 2 25 3 35 4 45 5 Quantity Refer to Figure 8-19. If the government changed the per-unit tax from $5.00 to $7.50, then the price paid by buyers would be $10.50, the price received by sellers would be $3, and the quantity sold in the market would be 0.5 units. Deadweight loss would now be a. $1.50 O b. $0.50 c. $4.0 Od. $0.625

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5 4 3.5 3 2 Use the graph to answer the question that follows. Price ($) I I I 360 540 What is the value of the producer burden of the tax in this market? $90 $180 $360 $540 O $720 Quantity S S