Question 14 of 18 Macmillan Learning Suppose the Canadian government has decided to place an excise tax of $20 per tire on producers of automobile tires. Excise taxes are also called sales or commodity taxes. Previously, there was no excise tax on automobile tires. As a result of the excise tax, producers of tires, such as Bridgestone and Michelin, are going to alter their tire prices. The graph illustrates the demand and supply curves for automobile tires before the excise tax. Please shift the appropriate curve or curves on the graph to demonstrate the impact of the new tax. Price 150 140 120 110 100 90 What is the price consumers pay for a tire post tax? Round to the nearest 10. price paid by consumers: $ What is the price producers receive for a tire net of taxes? Round to the nearest 10. 130 Supply 80 70 60 Demad 50 0 1 3 4 5 6 7 8 9 10 Quantity

Please helo me with this question There are 50 residents that live in a small town in California. Each resident uses electricity and there is one power station that produces electricity for the residents from coal. Each residents' demand for electricity is Q = 10 - 2P and the supply function for the power plant is Q = 150P. For each unit of electricity that the power station produces, there is a corresponding release of pollution that leads to asthma and other health problems for the 50 residents. The marginal damage of each unit of electricity produced, per person, is $.05. a. What is the market equilibrium price and quantity per unit of electricity? b. What is the efficient Pigouvian tax per unit of pollution? c. The government of this small California town decides to impose the efficient Pigouvian per unit tax on the power station. What is the new social optimum price and quantity per unit of electricity? d. What is the government tax revenue?  e. What is the gain in total…

o Suppose the Canadian government has decided to place an excise tax of $20 per tire on producers of automobile tires. Excise taxes are also called sales or commodity taxes. Previously, there was no excise tax on automobile tires. As a result of the excise tax, producers of tires, such as Bridgestone and Michelin, are going to alter their tire prices. The graph illustrates the demand and supply curves for automobile tires before the excise tax. Please shift the appropriate curve or curves on the graph to demonstrate the impact of the new tax. What is the price consumers pay for a tire post tax? Round to the nearest 10. price paid by consumers: $ What is the price producers receive for a tire net of taxes? Round to the nearest 10. Price 150 140 130 120 110 100 90 80 70 60 50 O 1 2 3 01 4 5 Quantity 6 Supply Demad 7 8 9 10

Use the following graph of the demand for American cheese to answer the question below: 55 Price (per pound) 3 2 0 D₂ •D, 2460 10 12 14 16 18 20 Quantity Demanded (thousands of pounds per week) Refer to the three demand curves for American cheese and assume that American cheese is an inferior good. Which of the following would shift the demand from D1 to D2: A decrease in consumer incomes An increase in consumer incomes A decrease in the price of American cheese An increase in the price of American cheese

Macmillan Learning John and Michael are the only consumers in a town that is planning on putting on a fireworks display. The graph illustrates John's and Michael's demand curves for a fireworks display. Based on the information given in the graph, manipulate the movable demand curve to reflect the overall demand for the fireworks display. Cost ($) 4 3 2 5 12 11 10 9 287 John's demand 6 Michael's demand 1 0 0.0 1.0 2.0 Quantity Demand 3.0 What kind of good is a fireworks display? O quasi-public good public good private good common resource

Is The following graph plots the supply and demand curves in the market for VR headsets. Use the black point (plus symbol) to indicate the equilibrium price and quantity of VR headsets. Then use the green point (triangle symbol) to fill the area representing consumer surplus, and use the purple point (diamond symbol) to fill the area representing producer surplus. PRICE (Dollars per headset) 400 300 320 200 240 200 160 120 BO 40 0 0 Demand Supply 75 400 525 600 676 750 150 225 300 375 QUANTITY (Millions of headsets) Total surplus in this market is $ million, Equilibrium A Consumer Surplus ◊ Producer Surplus Bas & Pant course 0x

You are an economist in the Internal Revenue System and just heard of a plan to increase the sales tax on a certain widget by $.06. Last year customers purchased about 10 million widgets. The demand curve in the last year was such that a $.01 increasein price decreases sales by 100,000. A study showed that a $.01 increase in price resulted in producers willing to provide 50,000 more widgets to the market. Congress stated that this$.06 tax will increase government revenues by $600,000 and raise the price of each widget by $.06. Is this correct? If so, explain why this is the case and, if not, what is the increase in prices and revenues?

Consider the market for apples. The following graph shows the weekly demand for apples and the weekly supply of apples. Suppose a spell of unusually good weather occurs, which enables apple producers to generate more apples per acre of land. please help me

8

The following graph shows the demand for a good. PRICE (Dollars per unit) 210-- 135 105 30 0 4 Z I 14 X 18 QUANTITY (Units) I II 28 W Demand ? For each of the regions listed in the following table, use the midpoint method to identify if the demand for this good is elastic, (approximately) unit elastic, or inelastic.