1.1For many years, South Africa's finance minister has raised the tax on the sale of cigarettes.Using the diagram below, explain whether the burden of the tax Is falling on the buyer or theseller.Price (rands per pack)30 18 162012NO 00100Price paidby buyersPrice with no taxPrice receivedby sellers5+ tax on sellersR6,00 tax275 300 325 350 375 400 425 450Quantity (millions of packs per year)

Insights from the given diagram:The price with no tax is $12 per unit. The price paid by buyers…

For many years, South Africa's finance minister has raised the tax on the sale of cigarettes. Using the diagram below, explain whether the burden of the tax is falling on the buyer or the seller. Price (rands per pack) 20 18 86 16 12 10 8 0 Price paid by buyers Price with no tax Price received by sellers 5+ tax on sellers R6,00 tax D 275 300 325 350 375 400 425 450 Quantity (millions of packs per year)

For many years, South Africa's finance minister has raised the tax on the sale of cigarettes. Using the diagram below, explain whether the burden of the tax is falling on the buyer or the seller. Price (rands per pack) 20 18 86 16 12 10 8 0 Price paid by buyers Price with no tax Price received by sellers 5+ tax on sellers R6,00 tax D 275 300 325 350 375 400 425 450 Quantity (millions of packs per year)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

Price ($) 45 42 35 39 36 33 30 27 24 21 7852963 18 15 12 S Quantity (in thousands) According to the graph shown, if the market goes from equilibrium to having its price set at $18: 1 2 3 4 5 6 7 8 9 10 A producer surplus will be $8,100. B) consumer surplus will be $12,150. deadweight loss will be $2,250. (D) deadweight loss will be $15,000. D
Consider the market for slug repellant. This good can be produced in the United States or abroad. Assume U.S. consumers wish to buy the least expensive slug repellant possible. Price Quantity demanded $6 13000 $7 12000 $8 11000 $9 10000 $10 9000 $11 8000 Quantity supplied domestically 2000 4000 6000 8000 9000 10000 Quantity supplied by importers if trade is allowed 5000 5000 5000 5000 5000 5000 If international trade is allowed, what is the equilibrium price?
Question 44 Please refer to the description of a tax on a market, represented by the graphic .. The amount of deadweight loss as a result of the tax is represented by the area(s) Check all that apply. F C. E.
Only typed answer
16. What is the difference between an agricultural export subsidy and an agricultural production subsidy?
2
What is producer and consumer surplus AFTET tax?
ng System (Academic) of estion Price (dollars per CDJ g 8 40 20 10 + tax on seller Select one: S 0 10 20 30 40 50 60 70 80 D A. $200 million OB. $20 million OG $400 million O D. $40 million Quantity (millions of CDs per year] In the above figure, what is the total tax revenue collected by the government?
33 1 36 39 Bushels Demanded per Month 45 50 56 61 67 B) 10. Price per Bushel $5 4 3 2 1 C) 67. OD) 61. Bushels Supplied per Month 77 73 68 If the price in this market was set at $1 by the government (price ceiling), then the number of bushels traded would be A) 57. 61 57
What is the tax burden on the buyer and seller?
The vertical distance between points A and B represents a tax in the market. 22- Price 222 20 18- 16 14 12- 22 10 8 9 Supply Demand 100 200 300 400 500 600 700 800 900 1000 Quantity Refer to Figure 8-6. Total surplus with the tax in place is
2.If a tax is physically paid by sellers, then sellers bear the full 100% burden of the tax. Group of answer choices False True