Tax equivalency worksheet Below, you are provided with the demand and supply curves for pepperoni pizzas.You will use this information to analyze the effect of a tax that is levied on the sellersof pepperoni pizzas, and a tax that is levied on the buyers of pepperoni pizzas. Youwill calculate the consumer surplus, producer surplus, and total surplus generatedin this market after the introduction of each of these the taxes.& $28$24$20Supply.$16$12Demand$8$41,000 2,000 3,000 4,000 5,000 6,000Quantity of PizzasPart 1: Suppose that the government imposes a $4 per pizza tax on the sellers ofpepperoni pizzas. Represent the supply curve shift that results from this tax in thegraph above.Part 2: Suppose that the government imposes a $4 per pizza tax on the sellers ofpepperoni pizzas. What is the quantity of pepperoni pizzas that is transacted?Part 3: Suppose that the government imposes a $4 per pizza tax on the sellers ofpepperoni pizzas. What is the price that buyers pay for a pepperoni pizza? And theprice that sellers receive for a pepperoni pizza?23Price Part 4: Suppose that the government imposes a $4 per pizza tax on the sellers ofpepperoni pizzas. Identify the amount of consumer surplus that is generated by thismarket after the imposition of this tax.Part 5: Suppose that the government imposes a $4 per pizza tax on the sellers ofpepperoni pizzas. Identify the amount of producer surplus that is generated by thismarket after the imposition of this tax.Here, we present the same graph that was presented on the previous page.* $28 ..j...$24$20.Supply$16$12Demand$8$41,000 2,000 3,000 4,000 5,000 6,000Quantity of PizzasPart 6: Suppose that the government imposes a $4 per pizza tax on the buyers ofpepperoni pizzas. Represent the demand curve shift that results from this tax in thegraph above.Part 7: Suppose that the government imposes a $4 per pizza tax on the buyers ofpepperoni pizzas. What is the quantity of pepperoni pizzas that is transacted?Part 8: Suppose that the government imposes a $4 per pizza tax on the buyers ofpepperoni pizzas. What is the price that buyers pay for a pepperoni pizza? And theprice that sellers receive for a pepperoni pizza?

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Part 1: Suppose that the government imposes a $4 per pizza tax on the sellers of pepperoni pizzas. Represent the supply curve shift that results from this tax in the graph above. Part 2: Suppose that the government imposes a $4 per pizza tax on the sellers of pepperoni pizzas. What is the quantity of pepperoni pizzas that is transacted? Part 3: Suppose that the government imposes a $4 per pizza tax on the sellers of pepperoni pizzas. What is the price that buyers pay for a pepperoni pizza? And the price that sellers receive for a pepperoni pizza?

Part 1: Suppose that the government imposes a $4 per pizza tax on the sellers of pepperoni pizzas. Represent the supply curve shift that results from this tax in the graph above. Part 2: Suppose that the government imposes a $4 per pizza tax on the sellers of pepperoni pizzas. What is the quantity of pepperoni pizzas that is transacted? Part 3: Suppose that the government imposes a $4 per pizza tax on the sellers of pepperoni pizzas. What is the price that buyers pay for a pepperoni pizza? And the price that sellers receive for a pepperoni pizza?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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