Given the following information: QD = 240 – 5P QS = P Where QD is the quantity demanded, Qs is the quantity supplied and P is the price Equilibrium price before the tax =
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Given the following information:
QD = 240 – 5P
QS = P
Where QD is the quantity demanded, Qs is the quantity supplied and P is the price
Given the following information:
QD = 240 – 5P
QS = P
Where QD is the quantity demanded, Qs is the quantity supplied and P is the price
Equilibrium price before the tax =
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- A market is described by the following supply and demand curves: QS = 3P QD = 400−P The equilibrium price is $ and the equilibrium quantity is . Suppose the government imposes a price ceiling of $120. This price ceiling is , and the market price will be $ . The quantity supplied will be , and the quantity demanded will be . Therefore, a price ceiling of $120 will result in . Suppose the government imposes a price floor of $120. This price floor is , and the market price will be $ . The quantity supplied will be and the quantity demanded will be . Therefore, a price floor of $120 will result in . Instead of a price control, the government levies a tax on producers of $40. As a result, the new supply curve is:Consider the market for pork illustrated in the graph. Suppose initial demand (D') is Q = 290 – 20p and supply (S') is Q = 80 + 40p and that a $3.00 tax is charged to consumers, shifting the demand curve to D. Using the original and after-tax pork demand functions and the supply function, derive the initial equilibrium price and quantity and the after-tax equilibrium price and quantity. %24 (Enter all responses using real numbers rounded to two decimal places) The equilibrium price is initially $ per kg. P1 ey P2 D2 D1 Q2 Q, Q. Million kg of pork per year SEP 24 30 tv Help Me Solve This Text Paces HAT More Hein ear All MacBook Air 80 DII esc F10 F11 F3 F4 F5 F6 F7 F8 F9 F1 F2 @ # $ & * 1 3 4 5 6. 7 8. P P. S per kg >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. PRICE (Dollars per blinkie) 26.00 18.00 10.00 Demand Result Per-unit tax B D F 33 U 20 E 36 QUANTITY (Blinkies) Complete the following table, given the information presented on the graph. $ Price consumers pay before tax $ Equilibrium quantity before tax Supply Value In the following table, indicate which areas on the previous graph correspond to each concept. Check all that apply. Concept Producer surplus after the tax is imposed Consumer surplus after the tax is imposed Tax revenue after the tax is imposed A U B 0 0 с 0 0 D 0 0 E 0 F 0 0
- Algebraically, solve for the after tax equilibrium price and quantity in the corn market, if the government collects a specific tax of t=$2.40 from customers. The before-tax linear demand function for U.S. corn is given as Q=15.6-0.5p and the original supply curve is given as Q=9.6+0.25p. Please show with a diagram.The following graph represents the demand and supply for an imaginary good called a pinckney. 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. Complete the following table, given the information presented on the graph. Result Value Per-unit tax Price producers receive before tax Equilibrium quantity after tax In the following table, indicate which of the previous graph’s areas corresponds to each concept. Check all that apply. Concept A B C D E F Producer surplus after the tax is imposed Tax revenue after the tax is imposed Consumer surplus after the tax is imposedGiven the following information (iv) Impact on Quantity? QD = 240-5P QS= P Where QD is the quantity demanded, Qs is the quantity supplied and P is the price. What is the Equilibrium price before tax?
- Given the following information QD = 240 - 5P QS = p where QD is the quantity demand, QS is the quantity supplied and P is the price. Suppose that the government decides to impose a tax $12 per unit on sellers in this market. Determine: a) Demand and supply equation after tax b) Buyer's price after tax c) Seller's price after tax d) Quantity after tax e) Consumer surplus after tax f) Producer surplus after tax g) Tax revenue h) Deadweight loss of the tax i) Total surplus after taxSuppose you are given the following information:Qs =100+3P Qd =400–2Pwhere Qs is the quantity supplied, Qd is the quantity demanded and P is price.a. From this information compute equilibrium price and quantity. b.Now suppose that a tax is placed on buyers so that Qd=400–(2P+T)where T is taxes. If T = 15, solve for the new equilibrium price and quantity. (Note: You are solving for the equilibrium price for sellers and buyers). c. The income elasticity of Abigail’s demand for CDs is 0.75. For Abigail Cds are a normal good or an inferior good? Explain your answer.The following graph represents the demand and supply for pinckneys (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. Complete the first table, given the information presented on the graph. In the second table, indicate which areas on the previous graph correspond to each concept. Check all that apply.
- The following graph depicts a market where a tax has been imposed. Pe was the equilibrium price before the tax was imposed, and Qe was the equilibrium quantity. After the tax, PC is the price that consumers pay, and PS is the price that producers receive. QT units are sold after the tax is imposed. NOTE: The areas B and C are rectangles that are divided by the supply curve ST. Include both sections of those rectangles when choosing your answers. What is the amount of the tax, as measured along the y axis? PC + PS Pe – PS PC – PS PC – P* Pe + PSThe figure to the right shows the weekly supply and demand for calculators at a local college in Victoria, British Columbia. Suppose the college wants to put a binding price ceiling on calculators sold on campus to keep student costs low. 1.) Use the line drawing tool to draw and label an appropriate binding price ceiling. 2.) Use the point drawing tool to plot and label the quantity demanded and supplied along the price ceiling. Carefully follow the instructions above, and only draw the required objects. Which of the following is not a consequence of this binding price ceiling? O A. an excess supply of calculators OB. a reduction in calculator sales O C. some unhappy students O D. a decrease in the quantity supplied of calculators OE. an excess demand for calculators Price ($) 50- 40- 30- 20- 10- 0- 0 10 20 E 30 Quantity 40 S D 50Suppose you are given the following information: Qs = 100 + 3P Qd = 400 – 2P where Qs is the quantity supplied, Qd is the quantity demanded and P is price. a. From this information compute equilibrium price and quantity. b. Now suppose that a tax is placed on buyers so that Q d = 400 – (2P + T) where T is taxes. If T = 15, solve for the new equilibrium price and quantity. (Note: You are solving for the equilibrium price for sellers and buyers). c. The income elasticity of Abigail’s demand for CDs is 0,75. For Abigail Cds are a normal good or an inferior good? Explain your answer. d. Years ago, Ricky paid $500 for CDs to put together a collection. Today, he sold hisCDs for $200. How does this sale affect current GDP?