onomists in Champaign have been studying the local market for pizza. The market is described in the graph below:     Some research by the local university shows that eating pizza improves health in several ways. The local government decides to subsidize pizza consumption paying for $2 of every pizza sold(essentially a negative tax of $2).  How much will the government spend with this subsidy?

Q: Using the formula Qs = 100 + 40p, find the quantity supplied when the price is $6.00.

A: Qs = 100 + 40p P= $6.00

Q: If consumers cannot readily switch to a close substitute when the price of a good increases, the…

A: Two goods are said to be close substitute if consumption of one can be replaced with another because…

Q: The supply of seats for an economics class at 10 a.m. is the same as the supply of seats for the…

A: The issue is best described as follows:There is a discrepancy in demand between the two class hours…

Q: An externality arises when a firm or person engages in an activity that affects the wellbeing of a…

A: * ANSWER :-

Q: With the help of appropriate diagrams, explain how a tax can be used to reduce the consumption of a…

A: Tax are contribution to goverment which are levied on individual as well as or a firm which are…

Q: Suppose the government of the island has decided to make tomatoes more affordable to consumers by…

A: Disclaimer: - Since you asked multipart question, we are solving 1st 3 parts as per guidelines. If…

Q: The following graph shows the demand curve for smart fridges. Suppose the government offers a $1,200…

A: The concepts of demand and supply are the foundation of microeconomics. Effective demand is simply…

Q: Compute the equilibrium price and quantity.

A: For finding the equilibrium price and quantity we need to put QS and Qd equal to each other.…

Q: Why does taking a drug off a formulary increase the prices to the consumer?

A: At the marketplace, there are many pharmaceutical companies that make their medicines using…

Q: Analyze the factors that would determine the impact of a price increase on the consumption of…

A: According to law if demand, there is inverse relationship between price and quantity demanded . But…

Q: At Tokyo Disneyland, visitors typically demand more rides than the theme park can supply. In this…

A: When quantity demanded is higher than quantity supplied, there is an excess demand (or shortage).…

Q: Current research on kidney transplants (see…

A: A market is in equilibrium, when quantity demanded equals quantity supplied.

Q: Demand on a steal is: Pd = 1,070 - 5Q, Supply on a steal is PS = 81, where Q is the amount of steal…

A: Answer-

Q: Suppose the market clearing price of a specific medication is $45 per unit, as shown by the graph.…

A: The market for a specific medication is characterised by a situation where the market clearing…

Q: uppose the government of the island has decided to make tomatoes more affordable to consumers by…

A: The equilibrium is established where the demand and supply forces are equal. The subsidy increases…

Q: It's hard for many of us to imagine a world without instant limitless internet access some have even…

A: Income elasticity of demand measures the responsiveness of the quantity demanded of a good or…

Q: In Country Faraway, cigarettes are forbidden, so people trade cigarettes in a black market. The…

A: We are given the demand and supply of cigarettes as follows:QD = 12 − PQS = 2P Demand: Demand of a…

Q: What determines the price of a drug (be detailed and cover all bases) on the demand side vs the…

A: The query has to do with pharmaceutical pricing and healthcare economics. It examines the variables…

Q: The government in your country is considering three programs that affect the market for cigarettes.…

A: Program 1 and the program 2 can be implemented to support farmers while reducing the consumption of…

Q: 1. AKERLOF'S LEMONS: Used cars (UC) vary in quality, but potential buyers cannot tell them apart; it…

A: We are going to understand the mechanism of Akerlof's model of Lemons.

Q: The graph below represents the market for gasoline. The price ceiling causes a shortage of thousands…

A: Price Ceiling: The price ceiling refers to a situation when the government imposes some price…

Q: When the prices of necessities such as gas and bottled water rise as a result of a natural disaster,…

A: Price need to be controlled by government. In aituations when pri e tises due to supply decreasing…

Q: Assume the supply curve for diapers is a typical, upward-sloping straight line, and the demand curve…

A: A new equilibrium price and quantity for the commodity being taxed will usually follow a commodities…

Q: Write down the equation for the new "effective supply" curve. • Determine the new equilibrium…

A:

Q: The demand curve for kidneys is downward sloping and the supply curve of kidneys is upward sloping.…

A: We will use the concept such as Price ceiling and rationing to answer this question.

Q: why does a subsidy on a good lower the price consumers pay and raises the price producers recieve?

A: The subsidy refers to the provision of financial assistance to the business or the individual to…

Q: since elastic is a luxury good, then inelastic is a necessity good. what kind of good is utilitary?

A: Demand is said to be elastic if the percentage change in the quantity demanded is more than the…

Q: A state tax on portable electronic devices causes sales of a single model of a handheld calculator…

A: Tax is a mandatory payment to the government. The tax amount is spent on the economy through public…

Q: What can you do to alleviate food insecurity? Cite 5 possible realistic solutions about the matter

A: Food insecurity is the lack of food for maintaining a healthy lifestyle. Majorly people with…

Q: please plot a graph showing the effect of a government subsidy on the market for surgical masks.

A: The amount given by the government to the producer is known as a subsidy. The main aim of subsidy is…

Q: The demand for hamburgers is given by Qd = 8,000 – 7,000P, where Qd is the quantity demanded and P…

A: The equilibrium is established where the demand and supply are equal. The change in demand and…

Q: Which of the following statements is not one of the ways that government regulations protect the…

A: The objective of the question is to identify the statement that does not accurately represent how…

Q: Suppose that there is a scrappage scheme which only provides a partial subsidy: if the citizen buys…

A: A subsidy is a financial aid, typically provided by a government or an organization, to support and…

Q: Below is an example of supply and demand for healthcare services in the U.S. (Third-Party Payer…

A: Equilibrium price and quantity is determined where demand and supply are equal. In the healthcare…

Q: Due to the decrease in the level of water in the lakes of Chapel Hill, the local government wants to…

A: A price floor is a government-imposed minimum price that can be charged for a particular good or…

Q: The government in your country is considering three programs that affect the market of cigarettes.…

A: Given. programs available with the government are as : Program 1: media campaigns and labeling…

Q: following figure represents a hospital facing both private and Medicare ients. Please use the graph…

A: Concept of Cost-Shifting: Cost-shifting refers to a situation where one party shifts or transfers…

Q: Continue your analysis of the video poker market in Cedar Rapids: demand by patrons for the games…

A:

Q: What would happen if, in order to provide lower-cost health care, the government decided to set a…

A: Price ceiling is the maximum price set by government above which no seller charge for its product.…

Q: The poor tend to have a price elasticity of demand for movie tickets that is greater than 1. Why…

A: Elasticity of demand can be explained by the fact that it is the percentage change in quantity…

Q: Cities have experienced a decline in garbage collection. Municipalities changed from a flat fee to a…

A: The debut issue of Solid Waste and Recycling magazine. after four years client pay has moved along…

Q: If the market is allowed to set the price and quantity of procedures, what price and quantity will…

A: Binding price ceiling means that government sets prices below the market equilibrium price in order…

Q: Suppose the government imposes a $3 excise tax on the sale of sweaters in Alaska by charging…

A: "Demand elasticity quantifies how responsive the quantity of a product or service demanded is to…