Its is known that the demand function for a product is P = 24 - 1/2Q and the supply function Q = 4 + 2P. If the government then increases the seller's tax on the product amount of IDR 20/ unit of goods, what is the price and quantity of goods new balance Calculate the tax burden borne by consumers & manufacturers, as well governement tax revenue F. Calculate the amount of subsidy received by consumers and manufacturers , as well subsidies issued by the government
Its is known that the demand function for a product is P = 24 - 1/2Q and the supply function Q = 4 + 2P. If the government then increases the seller's tax on the product amount of IDR 20/ unit of goods, what is the price and quantity of goods new balance Calculate the tax burden borne by consumers & manufacturers, as well governement tax revenue F. Calculate the amount of subsidy received by consumers and manufacturers , as well subsidies issued by the government
Principles of Microeconomics
7th Edition
ISBN:9781305156050
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter6: Supply, Demand And Government Policies
Section: Chapter Questions
Problem 5QR
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(Answer the f)
Its is known that the demand function for a product is
P = 24 - 1/2Q and the supply function Q = 4 + 2P.
If the government then increases the seller's tax on the product amount of IDR 20/ unit of goods, what is the price and quantity of goods new balance
Calculate the tax burden borne by consumers & manufacturers, as well governement tax revenue
F. Calculate the amount of subsidy received by consumers and manufacturers , as well subsidies issued by the government
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