**Question 10**Using the attached table, once the tax is implemented, the tax revenue will be ________________ and the deadweight loss will be ________________.| Quantity | MB | MC | MB - Tax (Amount producer receives) ||----------|-----|-----|------------------------------------|| 520 | 164 | 80 | 94 || 525 | 160 | 90 | 90 || 530 | 156 | 100 | 86 || 535 | 152 | 110 | 82 || 540 | 148 | 120 | 78 || 545 | 144 | 130 | 74 || 550 | 140 | 140 | 70 || 555 | 136 | 150 | 66 |*Note:* MB designates the marginal benefit and reflects the values on the demand curve. MC is the marginal cost and designates the values on the supply curve.- ☐ $18,375, $1,750- ☐ $70, $35- ☐ $36,750, $875- ☐ $525, $1,750

Deadweight loss defines the loss of economic efficiency that happens if the equilibrium of supply…

QUESTION 10 Using the attached table, once the tax is implemented, the tax revenue will be be Quantity MB MC MB-Tax (Amount producer receives) 94 90 86 82 78 74 70 66 and the deadweight loss will 520 164 80 525 160 90 530 156 100 535 152 110 540 148 120 545 144 130 550 140 140 555 136 150 Note: MB designates the marginal benefit and reflects the values on the demand curve. MC is the marginal cost and designates the values on the supply curve.

QUESTION 10 Using the attached table, once the tax is implemented, the tax revenue will be be Quantity MB MC MB-Tax (Amount producer receives) 94 90 86 82 78 74 70 66 and the deadweight loss will 520 164 80 525 160 90 530 156 100 535 152 110 540 148 120 545 144 130 550 140 140 555 136 150 Note: MB designates the marginal benefit and reflects the values on the demand curve. MC is the marginal cost and designates the values on the supply curve.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Consumer and Producer surplus Stax P $100 $70 $50 $45 $X $5 D 40 60 Assume an excise tax that has caused a decrease in Supply as shown on the graph above Show all work. а. How much is the tax per- unit b. How much is the value of X (intercept of the green line). How do you describe what that value is? C. How much is the consumer surplus before the tax? d. How much is producer surplus before the tax? е. How much is the consumer surplus after the tax? f. How much is producer surplus after the tax? g. How much is the deadweight loss as a result of the tax
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On the following graph, use the black curve (plus symbols) to illustrate the deadweight loss in these cases. (Hint: Remember that the area of a triangle is equal to x Base × Height. In the case of a deadweight loss triangle found on the graph input tool, the base is the amount of the tax and the height is the reduction in quantity caused by the tax.) 2400 2160 1920 Deadweight Loss 1680 1440 1200 960 720 480 240 10 20 30 40 50 60 70 80 90 100 TAX (Dollars per bottle) As the tax per bottle increases, deadweight loss DEADWEIGHT LOSS (Dollars)
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