If the inverse demand curve is p=140-Q and the marginal cost is constant at $10, how does charging the monopoly a specific tax of t=$12 per unit affect the monopoly optimum and the welfare of consumers, the monopoly, and society (where society's welfare includes the tax revenue)? What is the incidence of the tax on consumers? As a result of the tax, the profit-maximizing quantity decreases by 6 units and the profit-maximizing price increases by $6. (Enter numeric responses using real numbers rounded to two decimal places.) Consumer surplus decreases by $372¹. The monopoly's surplus (producer surplus) decreases by $ 744. Finally, society's welfare decreases by $408. The consumer incidence of the tax is 50%.

If the inverse demand curve is p=140-Q and the marginal cost is constant at $10, how does charging the monopoly a specific tax of t=$12 per unit affect the monopoly optimum and the welfare of consumers, the monopoly, and society (where society's welfare includes the tax revenue)? What is the incidence of the tax on consumers? As a result of the tax, the profit-maximizing quantity decreases by 6 units and the profit-maximizing price increases by $6. (Enter numeric responses using real numbers rounded to two decimal places.) Consumer surplus decreases by $372¹. The monopoly's surplus (producer surplus) decreases by $ 744. Finally, society's welfare decreases by $408. The consumer incidence of the tax is 50%.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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estnavclient.psonsVc.net/#/question/4985ff31-8b4a-4423-8092-062ae41fb329/a5b5e518-23e9-4a64-b3f9-30a82b80e42f Review - A Bookmark Sunuwar, Alka 8 Africa Economics Test / 13 of 27 II Pause Use the information in the box to answer the question. Some industries in South Africa, such as housing and healthcare, are controlled by the government. Most industries, however, such as mining, agriculture, and manufacturing, are controlled by the private sector, and have helped South Africa become a major economic power in Africa. Based on the information, what conclusion can be drawn about the South African economy? O A. South Africa has a pure market economy. O B South Africa has a pure command economy. OC South Africa has a command economy with some market elements. D. South Africa has a market economy with some command elements. 3:52 PM e Schoolnet : M... TN TestNav - Goo. G 的M 感) O Type here to search 72°F 2/24/2022 Lenovo 近

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