**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

See similar textbooks

Similar questions

CHECK OUT IMAGE PLS
#25, #26, #27
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
Only typed answer
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)
Please assist with the following questions 1. Calculate the (i) consumer surplus BREFORE THE TAX (ii) producers surplus BEFORE THE TAX 2. For the market of cigarettes WITH THE TAX please indicate (i) the tax (ii) price paid by consumers (iii) price received by producers (iv) Quantitiy of cigarettes sold thank you
7.7 pleaase explain
Question 1 Figure #3: The graph below represents a $10 per unit tax on a good then the amount bought and sold in the market is only 4 units. Note that Q represents quantity and P represents price. 24 20 A 16 Supply 12 D GIH 8 4 Demand 4. 10 12 14 16 Refer to Figure #3. After the tax goes into effect, what is (or are) the area(s) representing the loss of consumer surplus? O A OB+ C O A+B+ C O A+B+ D+ J +K
ols 4. The Laffer curve Government-imposed taxes cause reductions in the activity that is being taxed, which has important implications for revenue collections. To understand the effect of such a tax, consider the monthly market for champagne, which is shown on the following graph. Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph, Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly. PRICE (Dollars per case) 22***RES 40 35 Show Transcribed Text AX REVENUE (Dolan) 018 27 345 54 63 72 81 00 QUANTITY (Cases) Suppose the government imposes a $10-per-case tax on suppliers. At this tax amount, the equilibrium quantity of champagne is [ . 648 576 504 432 360 204 3214 144 72 D Supply . Demand Now calculate the government's tax revenue if it sets a tax of $0, $10, $20, $25, $30, $40, or $50 per case. (Hint: To find the equilibrium quantity…
USE TABLE #1: The calculation you used to find the producer surplus for the efficient market for electric automobiles is 1/2 x ($ ____________ - $__________ ) x ( _____ - ________ ). (Remember to use a comma, if a comma is needed and to include the decimal point and two numbers to the right of the decimal point).
1
Price $150 200 250 300 350 400 450 500 550 600 650 1. Equilibrium price $350 2. Quantity 50 3. Consumer Surplus? 6250 4. Producer Surplus? 6250 500 7. Remove the tax. Imposes a price floor $100 below the equilibrium price a Fiquilibrium price $350 and quantity? 50 Quantity Demanded 100 90 5. What is the total surplus? 12500 6. Suppose a $200 unit tax is placed on the good being sold. How much tax revenue is to be made? 4000 b. Resulting amount of surplus/shortage if any (0 if none) 0 8. Remove the price floor Impose a price ceiling $50 below the equilibrium price a Equilibrium price $350 and quantity? 50 b. Resulting amount of surplus/shortage (0 if none) o 80 70 60 50 40 30 20 10 0 Quantity Supplied 10 20 30 40 50 60 70 80 90 100 . How much deadweight loss is created (0 if none)?