Figure 8-8 Suppose the government imposes a $10 per unit tax on a good. Price 24 22+ 20 18 Supply 16- B 14 12- 10+ D F G 6+ 4- K `Demand 2- 369 12 15 18 21 24 27 30 33 36 39 Quantity Refer to Figure 8-8. One effect of the tax is to O reduce producer surplus from $96 to $24. O create a deadweight loss of $72. O reduce consumer surplus from $180 to $72. O All of the above are correct. MN 00

Figure 8-8 Suppose the government imposes a $10 per unit tax on a good. Price 24 22+ 20 18 Supply 16- B 14 12- 10+ D F G 6+ 4- K `Demand 2- 369 12 15 18 21 24 27 30 33 36 39 Quantity Refer to Figure 8-8. One effect of the tax is to O reduce producer surplus from $96 to $24. O create a deadweight loss of $72. O reduce consumer surplus from $180 to $72. O All of the above are correct. MN 00

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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QUESTION 8 Figure 14 12 10 8 6 4- 2- 10 20 30 40 50 60 70 Refer to Figure. If the government imposed a tax of $6 per unit in this market then which of the following statements would be correct? O a. The burden of tax will fall equally on the buyers and sellers. O b. The burden of tax will fall more on the buyers. O C. The burden of tax will fall more on the sellers. O d. Neither buyer or seller will have to pay the tax.
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please answer in text form and in proper format answer with must explanation , calculation for each part and steps clearly
Consumer and Producer surplus Stax P $100 $70 $50 $45 $X $5 D 40 60 Assume an excise tax that has caused a decrease in Supply as shown on the graph above Show all work. а. How much is the tax per- unit b. How much is the value of X (intercept of the green line). How do you describe what that value is? C. How much is the consumer surplus before the tax? d. How much is producer surplus before the tax? е. How much is the consumer surplus after the tax? f. How much is producer surplus after the tax? g. How much is the deadweight loss as a result of the tax
please show the consumer surplus and producer surplus in the graph 13. Refer to Figure 6-7. Which of the following price controls would cause a shortage of 20 units of the good? a. a price ceiling set at $6 b. a price ceiling set at $5 c. a price floor set at $9 d. a price floor set at S8 Figure 7-19 Price Ayddns 15 70 65 60 55 45 35 30 25+ 20+ 15 10 Demand i à is is 16 n1 21 22 23 a 25 Deannty 14. Refer to Figure 7-19. If the govermment imposes a price ceiling of $55 in this market, then total surplus will be a. S187.50. b. S125.00. c. $250.00. d. $266.67.
Price 27.5 CHOKRESE DEDELS 85 80 75 70 65 60 55 50 45 40 35 30 25 20 15 10 5 Supply Demand 5 10 15 20 25 30 35 40 45 50 55 60 65 70 Quantity Refer to the figure. When the price falls from $45 to $35, consumer surplus increases by $100 from new consumers entering the market. O increases by $50 from new consumers entering the market. increases by $50 from consumers who were already buying the good now paying a lower price. decreases by $50 from consumers who were already buying the good now paying a lower price.
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2. Using the following graph, answer the following questions. Also, show/Label your answers for parts a-e on the graph as well. Price 20 18 16 14 12 10 6. 4 6 8 10 12 14 16 Quantity 2 a. Suppose a $4 per-unit tax is imposed on the sellers of this good. What price will buyers pay for the good after the tax is imposed? b. Suppose a $4 per-unit tax is imposed on the sellers of this good. How much is the burden of this tax on the buyers in this market?
120 110 100 C. Supply 90 80 70 60 50 40 30 20 10 Demand 5 10 15 20 25 30 35 40 45 50 55 60 QUANTITY Refer to Figure E. The amount of deadweight loss as a result of the tax is O a. $600. b.$400. c. $250. O d. $50. PRICE
The figure shows the market for tires. The figure shows that the government has imposed a tax of per tire. Price (dollars per tire) O A. $40 S+ tax 70 В. $60 60 O C. $30 50 +..... O D. $10 hat ma O E. None of the above answers is correct. 40 As 30 20 Ass 10 10 20 30 40 50 60 70 Quantity (millions of tires per month) its AR O Time Remaining: 00:59:31 Next ompleted This course (ECON202 s2022 online) is based on Bade/Parkin: Foundations of Microeconomics, 9e MacBook Pro terwebsite name
Suppose a tax of $0.25 is placed on the market depicted below. 090 085 0.80 0.75 0.70 085 060 0.55 050 0.45 0.40 50 100 150 200 250 300 350 400 What is the DWL from the tax? O a. 8.75 O b.15 O C. 10 O d. 12.50
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