Energy drinkS has been causing death.because of consumpti on Senator Miller proposes $ 2 tax ( that on average cost $ 2.:5D) on the arinks. Senator cruz thinks IK too high. In response, the Miller Bill was fixed to make it a $ 1 tax. 1. DRALD A CRAPH. LOcate the tax Ruene and indicate which letterd rgions show that on the graph. Does the concumer or producer pay more ot the tax 2

Energy drinkS has been causing death.because of consumpti on Senator Miller proposes $ 2 tax ( that on average cost $ 2.:5D) on the arinks. Senator cruz thinks IK too high. In response, the Miller Bill was fixed to make it a $ 1 tax. 1. DRALD A CRAPH. LOcate the tax Ruene and indicate which letterd rgions show that on the graph. Does the concumer or producer pay more ot the tax 2

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Suppose the the demand for a product is given by Qd = 40 − 3P , andsupply by Qs = 5 + 2P Suppose that government places a tax on consumers of 10 per unit onproducers.(a) What will be the price and quantity with the tax?(b) How much will be the consumer be paying, including the tax, for each unit that the consumer purchases?(c) How much will the government be collecting in tax revenues?(d) What is the consumer surplus now that a tax has been placed on theproduct?(e) What is the producer surplus?(f) What is the deadweight loss?
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. Price 500 450 400 350 300 250 200 150 100 50 100 200 300- Chromebooks 800 900 1,000 7. After the tax, 8. After the tax, consumers pay a price of . 9. After the tax, producers receive a price of 10. What amount of tax revenues are collected when the tax is instituted?. chromebooks are exchanged in the market.
1. Consider the market for candy bars given below. Suppose that the government imposes a tax of $2 per candy bar in this market. Show on the graph and calculate the following: Price 5 $4.50 $4 $3.50 Supply 53 $2.50 $2 $1.50 $1 Demand S0.50 400 800 1200 1600 2000 2400 2800 3200 3600 4000 Candy Bars A. The quantity the market will produce with the tax. B. The government revenue from the tax. C. The deadweight loss from the tax. D. The consumer surplus with the tax. E. The producer surplus with the tax.
The graph shows the market for a vital-to-life drug on which the government has imposed a tax of $2 per dose. The buyer pays the entire tax. Draw the demand curve for this drug. Label it D. the demand for the drug. OA. inelastic; the larger is the amount of the tax paid by the buyer of the drug OB. elastic; the more equally is the tax split between the buyer and the seller of the drug OC. elastic; the larger is the amount of the tax paid by the buyer of the drug OD. inelastic; the more equally is the tax split between the buyer and the seller of the drug The more esc @ AAG 2 1 O И/ # 3 C $ 4 % 5 Oll 6 & 7 O * 00 8 O ( 9 12 8- Price (dollars per dose) S+tax 10 Quantity (millions of doses per year) >>> Draw only the objects specified in the question. 0 G 36
Price for good A is $6 and good b is $8. Budget is $36. Good A Good B Quantity Total Utility Quantity Total Utility 1 18 1 32 2 30 2 56 3 38 3 72 4 42 4 80 5 44 5 84 6 3 6 2 7 2 7 1 If the price of A decreases to $4, then the utility maximizing combination of the two products is what?
18. The next few questions are about this generic market with a negative consumption externality. Fill in the welfare table below with the areas associated with each welfare measure. aslhee or batoob A P. 1 F H. G MSB Q, Qi tax that leads to Qo CS PS tax revenue externality total surplus gqg 53 2Abbo20 (p re 9 boagns exrsLU ednsto 75 beLapor ent
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ASAP PLZ If the demand for Lucky jeans becomes more elastic, deadweight loss________O A. increases intially but then decreasesOB. decreasesOC. doesn't changeOD. increases
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If buyers pay more of a tax than do the sellers اختر أحد الخيارات a. demand is more elastic than supply O .b. supply is more elastic than demand O C. None of the above answers is correct O .d. the equilibrium price paid by buyers rises by less than half the amount of the tax „e. the amount of tax revenue collected by the government is almost zero
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ols 4. The Laffer curve Government-imposed taxes cause reductions in the activity that is being taxed, which has important implications for revenue collections. To understand the effect of such a tax, consider the monthly market for champagne, which is shown on the following graph. Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph, Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly. PRICE (Dollars per case) 22***RES 40 35 Show Transcribed Text AX REVENUE (Dolan) 018 27 345 54 63 72 81 00 QUANTITY (Cases) Suppose the government imposes a $10-per-case tax on suppliers. At this tax amount, the equilibrium quantity of champagne is [ . 648 576 504 432 360 204 3214 144 72 D Supply . Demand Now calculate the government's tax revenue if it sets a tax of $0, $10, $20, $25, $30, $40, or $50 per case. (Hint: To find the equilibrium quantity…