6. The diagram below shows the market for chromebooks in the town of Smallville, U.S.A. Policy mak-ers want to collect money for more paper books in school and place a tax of 100 $ on chromebooks.Describe the impact of the tax on the market below.Price50045040035030025020015010050100200300-Chromebooks8009001,0007. After the tax,8. After the tax, consumers pay a price of .9. After the tax, producers receive a price of10. What amount of tax revenues are collected when the tax is instituted?.chromebooks are exchanged in the market.

This can be defined as a concept that shows the total demand for the products and services in a…

Answered: 6. The diagram below shows the market…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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See the chart on the first picture to answer those two questions in second picture.
The market for bottles of broccoli juice is given below. Price $10 $9 S $8 $7 $6 $5 $3 $2 (45 $1 100 200 300 400 500 Q Suppose the government imposes a $3 per bottle tax on this market. a.) In response to the tax, the consumer price will rise to $ per bottle. b.) In response to the tax, the price paid to producers will fall to $ per bottle. c.) In this case, the incidence of this tax has the greatest impact on the (Click to select) ♥
4. Suppose the market for apples are shown in the graph below, Calculate Consumer surplus _____________ and Producers Surplus _________________.
Just complete Question 7A and 7B
The graph shows the market for college education. To encourage the efficient number of students to enroll colleges receive a subsidy. Draw the new supply curve following introduction of the subsidy. Label it. A subsidy is a payment that_ to cover part of the costs of education. O A. students make to the teachers B. the government makes to colleges C. students make to the colleges D. colleges make to students 60- 50- 40- 30- 20- 10- 0- Price and cost (thousands of dollars per student per yea 0 S=MC MSB D=MB 2 10 Quantity (thousands of students per year) >>> Draw only the objects specified in the question. 12
age Figure 7-2 Price P₁ P₂ B D O a. ACF O b. ABD O C. DEF O d. BCED E Q₂ 8₂ D Quantity Refer to Figure 7-2. Which area represents consumer surplus at a price of P1? me left:52:46 NEXT PAGE
The equations describing demand and supply curves for pizzasare given as follows:Q= 500 –P and Q= 2P + 200. a.What is the equilibriumpriceand quantity? b.Suppose that the price levelis set by the government at $150. Will there be a shortage or surplus? Explain why . What is the size of the surplus or shortage ?
80 50 A E L Sty MN 500 C T M D P 1000 Dus 700 Note: A, B, ,P represent each area section. In the Insulin market, the government decides to regulate a price with the ceiling prince $50.00. With this regulation, where are the area of producer surplus? OL O A+B O E+F+L OB+F
1. Use the following graph, calculate the costs and benefits of a subsidy. 20 200 165 108 80 23 60 88 S S-Sub SMB
Please answer correct calculation asap plz Don't answer by pen paper plz
Ch 8: Practice Sheet 2 Figure 8-5 Price 922 16 1. Refer to Figure 8-5 above. What happens to consumer surplus when a tax is imposed in this market? a. It falls by $900 b. It falls by $1800 c. It falls by $2,700 d. It falls by $3,600 2. Refer to Figure 8-7 below. A tax levy forced consumers to pay a price of $18 per unit. What is tax rate (size) imposed in this market? a. $10 ²00 b. $18 c. 58 d. $12 3. Refer to Figure 8-7 below. After the tax levy, the burden of tax on consumers is a. $18 b. $10 c. $8 d. 56 4. Refer to Figure 8-7 below. After the tax levy, the burden of tax on producers is a $10 b. $8 c. 56 d. 54 G a 5. Refer to Figure 8-7. One effect of the tax is to a. reduce consumer surplus from $60 to $24. c. create a deadweight loss of $24. 6. Refer to Figure 8-7. One effect of the tax is to a. reduce the quantity demanded from 8 to 4. c. create a tax revenue of $40. 10 Supply Demand 14 16 2 b. reduce producer surplus from $32 to $8. d. All of the above are correct. b. reduce the…
S. $24 $15 D Quota 430 620 800 1170 How much is the decrease in consumer's surplus as a result of Quota?

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6. The diagram below shows the market for chromebooks in the town of Smallville, U.S.A. Policy mak- ers want to collect money for more paper books in school and place a tax of 100 $ on chromebooks. Describe the impact of the tax on the market below. 500