After the imposition of a tax, equilibtium is as the intersection of demand and supply+tax. By how mach does consumer expenditure change after the imposition of the tax? Price 10 8 5 0 6 7 10 S = tax D S Quantity
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- The quantity demanded of salt decreases when the price of pepper increases. This is an example of * own-price elasticity. supply elasticity. income elasticity. O rubber band elasticity. cross-price elasticity. If the government wants to put a per unit tax on a product so that it can raise revenue to support local schools, it would most likely accomplish this goal by doing which of the following? * O placing a tax on a good with an elastic demand. placing a tax on a good that has many substitutes. placing a tax on a good with an inelastic demand. placing a tax on a good with a perfectly elastic demand. O relying of the goodness of mankind and simply ask for donations.please answer it legible and clear with complete solutiuon and asnwer it all... thank youWhat are determinants that shift the supply curve, define and list 4 conditions.
- o Suppose the Canadian government has decided to place an excise tax of $20 per tire on producers of automobile tires. Excise taxes are also called sales or commodity taxes. Previously, there was no excise tax on automobile tires. As a result of the excise tax, producers of tires, such as Bridgestone and Michelin, are going to alter their tire prices. The graph illustrates the demand and supply curves for automobile tires before the excise tax. Please shift the appropriate curve or curves on the graph to demonstrate the impact of the new tax. What is the price consumers pay for a tire post tax? Round to the nearest 10. price paid by consumers: $ What is the price producers receive for a tire net of taxes? Round to the nearest 10. Price 150 140 130 120 110 100 90 80 70 60 50 O 1 2 3 01 4 5 Quantity 6 Supply Demad 7 8 9 10Choose a company such as McDonalds, Starbucks, Tim Hortons, Air Canada or other similar large company in Canada.BUT I JAD CHOOSWN TESLA SO PLEQSE ANSWER FOLLOWING TOPICS FOR THIS COMPANU Compare the profits earned in 2020 in Canada with the average over the previous 10 years. Use supply and demand analysis, chapter 3, elasticity, chapter 4 and production costs, chapter 10, to explain the increase or decrease in profits, caused by Covid-19. Since Total profit is TR-TC, find data on both sales revenues and total production costs. Since TR = P*Q explain changes in both price and quantity. Differentiate between demand and supply shifts. Provide dollar values and percentages. Subtract any government assistance from TC.California has higher income taxes than any other state in the United States. As a result, many business owners, like Elon Musk and Joe Rogan, have moved their enterprises to states with lower state income taxes. As a result, its likely that California will start to experience less tax revenue even as they increase tax rates. What concept in economics does this best illustrate? O The Law of Demand O Subsidies O Price Floors O The Laffer Curve
- bry h > K I ips kball5@bulldogs.a... ips ] Bookmarks Window Help zm 3 37,279 # zm | CENGAGE Q O PRICE (Dollars per blinkie) 22.00 18.00--- 14.00 O Grammarly was Successfully Installed | Gramma.... MINDTAP $ 4 Demand M R A Je B D MA zm Homework (Ch 08) The following graph represents the demand and supply for blinkies (an imaginary product). The black point (plus symbol) indicates the pre-tax equilibrium. Suppose the government has just decided to impose a tax on this market; the grey points (star symbol) indicate the after-tax scenario. % 5 Bb E 28 36 QUANTITY (Blinkies) T Supply ng.cengage.com 6 1 8. | | MacBook Pro zoom & 7 Mar AL Alabama Black history stories you may not know... tvNZAO 8 ? G₂ G 4+ GIIGIG O ( 9 amagan music + 0 zoom W 4 0 b ☎ Q X 2 + . MindTap - Cengage Learnin Q Search this coursTime remaining:00 :09 :39EconomicsUse the following to answer questions (29) - (31):In the town of “One Horse” there is one movie theater. Two groups of consumers, adults (A) andchildren (C), attend this theater. Suppose the demand for movies by adults is given by:QA = 50 - 0.50PA, where PAis price ofan adultmovie ticket(in cents)and QAis the numberofmovie tickets sold to adults atthe theater. Suppose the demand for movies by children is given by:QC = 20 - 0.50PC,where PCispriceofa children’s movie ticket(in cents)and QCis the numberofmovie tickets sold tochildren atthe theater. Also, imagine totalcostis fixed at$450, thus makingmarginalcostofprovidingonemore movie ticket to either an adult or a child constant at zero.[29]Ifthe movie theateris able to price discriminate amongits two groups ofconsumers, then itshouldcharge a higher price to group A.A.TrueB.False[30]Ifthemovie theateris able to price discriminate amongits two groups ofconsumers, then itsmaximum profit is closest in value…32. 33. 34. 35. 36. 37. 38. 39. 40. 41. 42. 43. 44. 45. 46. 47. 48. 49. 50. a O O O O O O O O O O O O O O O O O Refer to Figure 3.4 and identify the true statement. a. The original equilibrium quantity was 57. b. The demand for DVD rentals has decreased. O The below figure shows the demand and supply of DVD rentals in a city. S₁ and D₁ are the original supply and demand curves. The demand curve shifts from D₁ to D₂. c. The supply of DVD rentals has decreased. d. The new equilibrium price is $3. e. The new equilibrium quantity is 48. Icon Key Price per DVD rental ($) 5+ 4+ 3- 2.50 2+ 1 0 10 20 30 Figure 3.4 + Quantity (Number of DVD rentals) ST Di + 40 50 60 70 80 90 100 110 48 57 66
- Using the concept of price elasticity, evaluate the statement with diagrams. "Imposition of GST will affect local banana farmers' revenue in 2 scenarios, before and after reports surface that some imported bananas were infected with a virus"4 Q-2Economics deals with the question as to “how to acquire more and more wealth by a nation,” and “how to utilize this wealth for obtaining material gains of human life.” Explain in detail what are the various sources of income for Oman and how it spends the income for the development of the country. Q-3Provide a situation where “more than unit elastic demand” is shown. Illustrate your answer by presenting suitable consumer produc in a graph. I need answer for two 2 queation and seapachily for 3