In the market for millet, the demand curve qd-50-3p and the supply curve is q=2p. the government decides to raise revenue by taxing consumers c5/3 for every tonne of millet purchased. the price(p) is measured in ghana cedi per tonne; and, quantity(q) is in tonnes. use this information to answer questions a to c a). how much tax revenue is this policy going to generate for government? b) what proportion of the tax is paid by producers? c). what proportion of the tax is paid by consumers?

Q: The equation of demand is Q=10000-5p, supply is Q=-2000+10p Q represents the quantity of houses on…

A: The equilibrium price and quantity are obtained by putting quantity demand equal to quantity…

Q: Explain how tax size and elasticity of demand/supply affect the size of tax revenue and social…

A: Elasticity of demand: It the measurement  of the percentage change in the quantity demanded of a…

Q: Willy the Worker has unavoidable personal commitments taking 8 hours per day. He can choose to work…

A: Time available per day = 24 - 8 = 16 hours Time can be spent either to work or to play Wage = $100…

Q: Price Amount Requested (Unit) Amount Offered (Unit) (IDR) 2400 2000 120 180 160 150 Based on the…

A: We derive the demand and supply curves first. Amount requested refers to quantity demanded and…

Q: Suppose legislation is passed stating that a per unit tax of $.50 per gallon of gasoline must be…

A: Tax imposed on per gallons is a direct tax example . But burden of tax on consumer and producers…

Q: Consider an ad-valorem tax on a good X. The Demand for good X is constant elasticity with elasticity…

A: The elasticity of demand(Ed) measures the responsiveness of quantity(Q) demanded to a change in…

Q: Given the following demand and supply functions Qd = 220−5P Qs = −20+3P if a per unit tax of 8 is…

A: Hello, thank you for the question. Since there are multiple subpart questions posted here, as per…

Q: Question Given a demand curve of P = 31 - 1.25Q and a supply curve of P= 4 +Q, with a tax of 18,…

A: Deadweight loss is the decrease in total surplus resulting when socially efficient quantity is not…

Q: Supply fucntion: QS=200P-700 Demand function: Qd=3000-100p   If a goverment want to reduce the…

A: Demand and Supply Demand refers to the quantities of a commodity that the consumers are ready to…

Q: PRICE 1 5 4 12 11 10 E 9 Supply 8 Demand T 0.5 1 1.5 2 2.5 3 3.5 4 4.5 5 5.5 6 QUANTITY Refer to…

A: When a tax has been imposed the burden of the tax is shared by both sellers and buyers. The tax…

Q: Given the following information Qd = 240 - 5P Qs = P Where Qd is the quantity demanded, Qs is the…

A: Equilibrium or stable point is found where the demand(dd) curve and the supply(ss) curve cut each…

Q: thanks in advance!

A: The given values are as follows.   Beer case sold before tax = 12,000. Price per case before tax =…

Q: Suppose that the supply curve for beer is given by QS=20+4P and the demand for beer is given by…

A: Part (i): The pre-tax and post-tax equilibrium price of beer. Pre-tax Equilibrium: Supply Curve: QS…

Q: The function of demand and supply of goods P = 14 - 2Q and P = 5 + 2Q. When against goods are taxed…

A: The gap between supply curves is shown as subsidy. The subsidy will aim and increasing the amount of…

Q: Its is known that the demand function for a product is P = 24 - 1/2Q and the supply function Q = 4 +…

A: Demand:  P = 24 - 1/2Q Q = 4 + 2P P= Q/2-2 Equilibrium: Q=22 units, P= IDR13 The government provides…

Q: What effect does a tax levied on the supplier of a product have? a. It shifts the demand curve…

A: Before-tax, equilibrium occurs where demand equals supply. When tax is imposed in a market, the…

Q: It is known that Qd = 80-2P and Qs = -10 + P Question: a. Draw it in a graph! b. If the government…

A: Qd = 80-2P Qs = -10 + P

Q: Using the diagram below, identify the deadweight loss to the market for perfume when a $20 per unit…

A: The given diagram has been reproduced below:- S' is the new supply curve after the imposition of…

Q: Give a brief conclusion about taxation in Malaysia

A: Malaysia has progressive direct tax system.People with higher income are taxed higher and people…

Q: Suppose the supply and demand schedules for sandwiches are as follows: P=10 and Qd = 20-P. If a tax…

A: Price is determined by the market forces demand and supply interaction and market obtain equilibrium…

Q: The incidence of the subsidy on consumers is decimal places) Show the effect of the subsidy…

A: Demand :Demand is when a consumer has the desire to buy something at the price that he is ready to…

Q: In a supply and demand model, excise taxes on goods and services cause deadweight loss because: O…

A: A direct tax is one that is paid directly to the institution that imposed it. Individual taxpayers,…

Q: Refer to Figure 18-3. Suppose that supply is perfectly elastic and the price of this good is…

A: Since you have posted multiple questions, we will provide the solution only to the first question…

Q: If the government decide to increase taxes on sugar, who do you think will carry the burden of…

A: The equilibrium price and quantity of a good or service is determined by the forces of market demand…

Q: 1. Suppose the demand for consumer goods is P=100-2Q. The supply of consumer goods is MC=20+0.5Q. a)…

A: P=100-2Q MC=20+0.5Q

Q: Explain the changing balance and tax sharing on the graph when a $ 5 tax is applied to a low product…

A:

Q: Determine government revenue and dead weight loss after tax.

A: Taxes are imposed on individuals or companies involuntarily to fund government operations by a…

Q: How will the imposition of a fiscal policy for an increase in import duties on vehicles impact…

A: When the government increases import duties on vehicles then these vehicles will become costly in…

Q: Suppose that there is a market demand and market supply curve given by P = 10 - 0.1Q and a market…

A: Market demand curveP=10-0.1QD0.1QD=10-PQD=100-10PMarket supply…

Q: The demand function for commodity products: Pd = 35-4Q and the supply function is Ps =5+Q. By the…

A: The equilibrium is established where the demand and supply are equal. The imposition of tax reduces…

Q: . Given the following information Qp = 240 – 5P Qs = P Where Qp is the quantity demanded, Qs is the…

A: Meaning of Quantity Demanded and Quantity Supplied: The term quantity demanded is the situation…

Q: PRICE (Dollars per pack) 10 40 AU NE 0 Supply Demand 0 10 20 30 40 50 60 70 80 90 100 QUANTITY…

A: Tax revenue is the product of tax per unit and quantity.  The tax revenue lead to the deadweight…

Q: 4. Given the following information Qp = 240 – 5P es = P Where Qp is the quantity demanded , s is the…

A: With the imposition of tax there is market failure as tax leads to dead weight loss

Q: answer with explanation and conclusion The burden of a sales tax will fall primarily on businesses…

A: Sales tax is a type of consumption tax imposed by governments on the sale of goods and services. It…

Q: 1. Given the following information Qp = 240 – 5P Qs = P Where Qp is the quantity demanded , Qs is…

A: Given information:QD=240-5PQS=P

Q: Suppose the supply is perfectly inelastic, which means the price elasticity of supply is 0. A…

A: As supply is perfectly inelastic , the supply curve is vertical in nature. The imposition of tax…

Q: Suppose that after an excise tax was imposed on sofas, the price buyers paid for sofas increased by…

A: Taxation is an essential component of the modern economy, serving as a major source of money for…

Q: Plot the supply and demand curves in MS Excel : Find the market equilibrium price and quantity Find…

A: The equilibrium will be determined at a point where the demand and supply curves intersect. After…

Q: If an asset is purchased at some initial time t=0 for $200 and sold at some time t > 0 in the…

A: The value of the asset is a function of time. If the asset provides returns greater than the price…