A county government has decided that it needs to generate more revenue to pay for repaving all of the roads in the county. County officials have decided that the best way to generate more revenue is to raise the tax on restaurant meals. Explain whether this tax is likely to be effective at generating revenue for the county. Be sure to identify, define, and explain any Economic concepts you use in answering this question.

Q: What happens to a country's economy if there is a high tax for the company that earns more in that…

A: Taxes are the mandatory payments that has to he made to the government.

Q: Suppose legislation is passed stating that a per unit tax of $.50 per gallon of gasoline must be…

A: When demand is more elastic than the supply than in this situation suppliers bear the more burden of…

Q: Willy the Worker has unavoidable personal commitments taking 8 hours per day. He can choose to work…

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Q: (d) Is there any inefficiency, and if so, can you define it and label it on the graph?

A: d) Yes, there is inefficiency, as because of the tax, the total surplus is reduced and hence that…

Q: With the help of appropriate diagrams, explain how a tax can be used to reduce the consumption of a…

A: Tax are contribution to goverment which are levied on individual as well as or a firm which are…

Q: You are Lori Lightfoot. The city needs money. You are contemplating 2 sources of revenue: levying a…

A: Price elasticity of demand measure the responsiveness of a change in the price of a commodity on the…

Q: For which of the following goods, the burden of a sales tax is borne more by buyers than by sellers?…

A: There are several goods in the market, which are always in demand due to their necessity. These…

Q: Which of the following statements about corrective taxes is generally NOT true?

A: The correct option is D.

Q: Please answer these two questions using the information from above: The government wants to increase…

A:

Q: Emerald Isle has been named by Southern Living magazine as the best beach town in North Carolina.…

A: The tax is a compulsory payment which is given to the government on the gross income for which the…

Q: In a country a government chooses to increase the tax on gas for $0.20 per gallon. Though the price…

A: In a country a government chooses to increase the tax on gas for $0.20 per gallon. Though the price…

Q: If a tax of $1.20 is imposed on consumers in this market, what is the tax revenue?

A:

Q: What if any are the effects of taxation on a normal profit

A: The profit is the excess revenue made by the firm after deducting the total cost of production from…

Q: Daniel and Jacob like soda drinks. Jacob's demand for soda is: P=10-Q; the demand for Daniel is…

A: Demand and supply forces in the market interact to give the market equilibrium condition. A tax…

Q: Is it true, as many people claim, that taxes assessed on producers are passed along to consumers?…

A: Taxes are obligatory contributions levied by a government agency on people or companies. Taxation…

Q: Imagine that you work for the central bureaucracy and you need to raise revenue.  You want to use a…

A: Price elasticity measures the responsiveness in quantity demanded/supplied of a commodity to a…

Q: Suppose a $1 tax is imposed on cigarette manufacturers, which of the following will occur? Group of…

A: Tax Incidence:- A tax incidence is a situation whenever the tax burden is shared by market…

Q: During the Summer of 2022, gas prices rose well over $5.00 per gallon.  In response, President Biden…

A: An excise tax causes the supply curve to shift upward by the amount of the tax. Incidence of the tax…

Q: The equilibrium quantity in a market will increase when... The government puts a tax on consumers.…

A: With an increase in tax, the supply curve shifts upwards to S+Tax as production is now expensive.

Q: Governments often attempt to boost the income of some agricultural producers with a variety of…

A: 1. Quotas:Quotas restrict the quantity of a particular agricultural product that can be produced and…

Q: 2. Suppose that the demand curve for cigarettes is given by y(p) = 50 - P and the supply curve is…

A: y(p)=50-P y(p)=P

Q: ) Using a supply and demand model, show and explain the impact that the per-unit tax had on the…

A: A per unit tax is a type of tax that is applied to each unit of a good or service that is sold. This…

Q: Many cities have experienced a substantial decrease in the amount of garbage being collected after…

A: Many communities have changed the way their garbage is collected, moving away from fixed taxes on…

Q: Question 26     Suppose the government puts a cigarette tax of $ 1 per pack.  In response to this…

A: We are going to explain and answer how to calculate tax burden on consumer to answer this question.

Q: How does a tax on buyers affect the market equilibrium?

A: Suppose, there is a market in which the market equilibrium is attained at point E where the demand…

Q: Suppose government impose a tax of 1 dollar per bottle on sellers of industrial detergent. Explain 3…

A: The tax is a compulsory payment or a levy which is imposed by the government on providing various…

Q: nsider the following supply and demand curves Price = 35-4*Q Price = 3*Q Suppose the government…

A: The equilibrium is set up where the demand and supply forces are equal. The given demand and supply…

Q: Which of the following statements about corrective taxes is generally not true? a) Economists…

A: When a commercial activity produces negative externalities, a corrective tax is imposed. The tax is…

Q: How do taxes influence the efficiency of resource use? How much does it cost for the government to…

A: Tax distorts efficiency. Taxes are burden on citizens for goods and services imposed by government.…

Q: The government in your country is considering three programs that affect the market of cigarettes.…

A: Given. programs available with the government are as : Program 1: media campaigns and labeling…

Q: Choose one of the following examples and explain whether you think that the government should ban…

A: Banning any product is not the ultimate solution to any of the issue because it will create a…

Q: If the state government would like to increase tax revenue, please give three examples of…

A: In order to comprehend the burden and incidence of taxes, two key concepts are elasticity and taxes.…

Q: If the government imposes a tax of 8% on luxury cars that the consumer must pay, why does the…

A: The tax is shared by the consumer and producer based on the elasticity of the demand and supply. If…

Q: ) Tax revenue can be found by multiplying tax per unit by the equilibrium quantity. b)…

A: Tax is imposed by the government to earn revenue for spending in developmental activities. The…

Q: Problem 1: After economics class one day, your friend suggests that taxing food would be a good way…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Question 1 In the market for swim suits, demand is P = 58 - 0.011Q and supply is P = 5 + 0.009Q. The…

A: When the tax is imposed whether on buyers or sellers, it decreases quantity traded in the market.…

Q: The tax on cigarettes in New York City is the higher in the nation--$5.85 per pack.  Does this tax…

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Q: the market for candy, researchers have estimated the following demand and supply curves.  Demand:…

A: Equilibrium is achieved at the output level where Qs equals Qd

Q: upply or Demand

A: The elasticity of demand measures how a good deal the quantity demanded of an awesome or service…

Q: Cows are a major source of methane which causes global warming. The government imposes a per-cow tax…

A: Per unit tax on a product increases the price of the product, and thus decreases the availability of…

Q: (d) Suppose the government wishes to help out consumers impacted by this tax by subsidizing coffee…

A: Tax refers to the compulsory charges levied by the government on its citizen and the citizen. The…

Q: Richard and Henry like soda drinks. Henry's demand for soda is: P=10-Q; the demand for Richard is…

A: Without tax Henry Richard Demand for soda=P=10-Q supply for soda=P=1 Optimum profit is…