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Now calculate the government's tax revenue if it sets a tax of $0, $10, $20, $25, $30, $40, or $50 per case. (Hint: To find the equilibrium quantity after the tax, adjust the "Quantity" field until the Tax equals the value of the per-unit tax.) Using the data you generate, plot a Laffer curve by using the green points (triangle symbol) to plot total tax revenue at each of those tax levels. Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically. TAX REVENUE (Dollars) 400 360 320 280 240 200 160 120 80 40 0 0 5 10 15 20 25 30 35 40 45 50 TAX (Dollars per case) Laffer Curve Suppose the government is currently imposing a $10-per-case tax on beer. True or False: The government can raise its tax revenue by decreasing the per-unit tax on beer. True False

Now calculate the government's tax revenue if it sets a tax of $0, $10, $20, $25, $30, $40, or $50 per case. (Hint: To find the equilibrium quantity after the tax, adjust the "Quantity" field until the Tax equals the value of the per-unit tax.) Using the data you generate, plot a Laffer curve by using the green points (triangle symbol) to plot total tax revenue at each of those tax levels. Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically. TAX REVENUE (Dollars) 400 360 320 280 240 200 160 120 80 40 0 0 5 10 15 20 25 30 35 40 45 50 TAX (Dollars per case) Laffer Curve Suppose the government is currently imposing a $10-per-case tax on beer. True or False: The government can raise its tax revenue by decreasing the per-unit tax on beer. True False

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Now calculate the government's tax revenue if it sets a tax of $0, $10, $20, $25, $30, $40, or $50 per case. (Hint: To find the equilibrium quantity after the tax, adjust the "Quantity" field until the Tax equals the value of the per-unit tax.) Using the data you generate, plot a Laffer curve by using the green points (triangle symbol) to plot total tax revenue at each of those tax levels. Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically. TAX REVENUE (Dollars) 400 360 320 280 240 200 160 120 80 40 0 0 5 10 15 20 25 30 35 40 45 50 TAX (Dollars per case) Laffer Curve Suppose the government is currently imposing a $10-per-case tax on beer. True or False: The government can raise its tax revenue by decreasing the per-unit tax on beer. True False
Transcribed Image Text:Now calculate the government's tax revenue if it sets a tax of $0, $10, $20, $25, $30, $40, or $50 per case. (Hint: To find the equilibrium quantity after the tax, adjust the "Quantity" field until the Tax equals the value of the per-unit tax.) Using the data you generate, plot a Laffer curve by using the green points (triangle symbol) to plot total tax revenue at each of those tax levels. Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically. TAX REVENUE (Dollars) 400 360 320 280 240 200 160 120 80 40 0 0 5 10 15 20 25 30 35 40 45 50 TAX (Dollars per case) Laffer Curve Suppose the government is currently imposing a $10-per-case tax on beer. True or False: The government can raise its tax revenue by decreasing the per-unit tax on beer. True False
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