Question 5Suppose that the government imposes a tax on cigarettes. Use the diagram below to answer the questions. D is the demand curve before tax, Sis the supply curve before tax and St is the supply curve after the tax.Price18121010 12Qua(a) For the market for cigarettes without the tax. Indicate:Price paid by consumers(1)Price paid by producers(ii)Quantity of cigarettes sold(iv)Buyer's reservation price(v)Seller's reservation priceSeller's reservation priceChoose. +Choose. +Choose.Price paid by consumersChoose. +1218Quantity of cigarettes soldChoose.107Buyer's reservation price3Choose.8Price paid by producersChoose.

In any market, equilibrium corresponds to demand for the good or service being equal to supply of…

Answered: ose that the government imposes a tax…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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point(s) possible Submit Next question The graph shows the market for basketballs, when sellers are taxed $6 a ball. Price (dollars per ball) 27 What is the excess burden of the tax? 25- Is the demand for basketballs or the supply of basketballs more inelastic? $+tax 23- 21- 19- Draw a shape that shows the excess burden of the tax on basketballs. 17+16 15 15- AS The excess burden of the tax on basketballs is $ million. 13- D The supply of basketballs is more than the demand for basketballs, and 11-T0 the pays most of the tax. SS 9- O A. inelastic; seller 7- 12 O B. inelastic; buyer 5+ 16 12 Quantity (millions of balls) 8. C. elastic; buyer D. elastic: seller >> Draw only the objects specified in the question. its O Time Remaining: 00:53:44 Next mpleted his course (ECON202 s2022 online) is based on Bade/Parkin: Foundations of Microeconomics, 9e MacBook Pro O O O O
References Mailings Review View Help Text Box A A Aa A AaBbCcI AaBbCcI AaBbC A aB AaBbe x A .A- 三。田。 T Normal 1 No Spac. Heading 1 Title Subtit nt Paragraph Styles 3. The supply and demand schedules below describe the market for compact fluorescent lightbulbs (CFLS). Price Demand Supply (millions) Same Supply Q now at higher price with tax (millions) 200 Price + (millions) tax $2.00 400 200 $2.50 350 250 250 $3.00 300 300 300 $3.50 250 350 350 $4.00 200 400 400 $4.50 150 450 450 $5.00 100 500 500 a. Graph the supply and demand curves, drawing them to scale, i What is the equilibrium price? ii. What is the equilibrium quantity? DFocur hp 14 10 f7 fe fo 144 %$4 & 3. 4 5. 6. L. 8. 6. 2: 近 %24 %23
1. Consider the market for candy bars given below. Suppose that the government imposes a tax of $2 per candy bar in this market. Show on the graph and calculate the following: Price 5 $4.50 $4 $3.50 Supply 53 $2.50 $2 $1.50 $1 Demand S0.50 400 800 1200 1600 2000 2400 2800 3200 3600 4000 Candy Bars A. The quantity the market will produce with the tax. B. The government revenue from the tax. C. The deadweight loss from the tax. D. The consumer surplus with the tax. E. The producer surplus with the tax.
Price Tax Amount of the tax C. Quantity Click to view larger image. Look at the provided figure. What area(s) represent the deadweight loss after the tax? O A + B B + C O E+ F B.
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The graph shows the market for a vital-to-life drug on which the government has imposed a tax of $2 per dose. The buyer pays the entire tax. Draw the demand curve for this drug. Label it D. the demand for the drug. OA. inelastic; the larger is the amount of the tax paid by the buyer of the drug OB. elastic; the more equally is the tax split between the buyer and the seller of the drug OC. elastic; the larger is the amount of the tax paid by the buyer of the drug OD. inelastic; the more equally is the tax split between the buyer and the seller of the drug The more esc @ AAG 2 1 O И/ # 3 C $ 4 % 5 Oll 6 & 7 O * 00 8 O ( 9 12 8- Price (dollars per dose) S+tax 10 Quantity (millions of doses per year) >>> Draw only the objects specified in the question. 0 G 36
Question 7
The market supply and demand for a product are shown in the diagram below. Now supose the government imposes a per-unit tax of $1 on producers. (i) What happens to total revenue received by producers after they pay the tax to the government? Explain. (ii) Will producer surplus increase, decrease, or stay the same? (iii) Will total surplus increase, decrease, or stay the same? Explain.
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If buyers pay more of a tax than do the sellers اختر أحد الخيارات a. demand is more elastic than supply O .b. supply is more elastic than demand O C. None of the above answers is correct O .d. the equilibrium price paid by buyers rises by less than half the amount of the tax „e. the amount of tax revenue collected by the government is almost zero
See the chart on the first picture to answer those two questions in second picture.

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