QUESTION 23 Refer to the graph below for a market. Price 48 Supply 44- 40 + 36 + 32 28 + 24 20 + 16 12 + 8+ 4 Demand 5 10 15 20 25 300 35 40 45 50 ss 60 Quaxtity Assuming that the government imposes a tax size of AB in the above market. Based on that calculate 1. Consumer surplus after taxes 2. Producer surplus after taxes 3. Tax revenue after taxes 4. Deadweight loss if any after taxes

QUESTION 23 Refer to the graph below for a market. Price 48 Supply 44- 40 + 36 + 32 28 + 24 20 + 16 12 + 8+ 4 Demand 5 10 15 20 25 300 35 40 45 50 ss 60 Quaxtity Assuming that the government imposes a tax size of AB in the above market. Based on that calculate 1. Consumer surplus after taxes 2. Producer surplus after taxes 3. Tax revenue after taxes 4. Deadweight loss if any after taxes

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

Multiple choice questions - Micro 11) Refer to Figure 8-6. If the tax is imposed on the buyer, what price would the sellers receive for their product? A. $16 B. $2 C. $10 D. $6 10) What does a binding price floor cause? A. a drop in the equilibrium price B. a shortage C. a surplus D. excess demand
#17
Figure 8-5 Price P3 P1 P₂ a. A C. B d. D F -Tax- G 92 C E P2 and Q2 o b. P2 and Q1 X P1 and Q1 P3 and Q2 H Refer to Figure 8-5. What is the price sellers receive after the tax and the quantity sold? 9₁₂ S Quantity
Table 2: Market for Skis P 0 4 8 12 16 Qd Qs 15 0 12 9 6 3 20 0 6 12 12 16 20 2. Consider Table 2. a. What is the equilibrium price and quantity? b. What is the CS, PS, and TS? C. If there is a $3 tax, what is the equilibrium price buyers pay, the price sellers receive, and the quantity?
Question A local government is considering introducing a tax on gasoline or a tax on new cars. Which good hould they tax if they want to minimize deadweight loss they create? New cars Gasoline Tax both goods because neither tax will create deadweight loss OIt doesn't matter because both taxes would create the same amount of deadweight loss
Figure 4-15 Price (dollars per case) $32 27 22 20 0 Tax- 50 O $7. O $20. O $22. O $27. 90 Supply with tax Supply Quantity (thousands of cases) Figure 4-15 shows the market for beer. The government plans to impose a per-unit tax in this market. Refer to Figure 4-15. The price buyers pay after the tax is
The vertical distance between points A and B represents a tax in the market. 22- Price 222 20 18- 16 14 12- 22 10 8 9 Supply Demand 100 200 300 400 500 600 700 800 900 1000 Quantity Refer to Figure 8-6. Total surplus with the tax in place is
Answer last three sub part
2. Answer the following question according to the figure below, 18- 16 Supply 14- 12 10 4 2- Demand 30 60 90 120 150 180 210 240 270 Q If the government imposes a tax of $6 per unit in this market, a. How many units will be bought and sold in the market after the tax is imposed? b. How much the buyers will pay after tax? c. How much the sellers will receive after tax? d. How the $6 tax will be shared between buyers and seller?
Kel ng Time: * Question Completion Status: The vertical distance between points and represents a tax in the market. PRICE 12 10 9 8 CO 76 5 inutes, 37 seconds. 4 3 2 1 A B Supply Demand +++ H 0.5 1.0 1.5 2.0 2.5 3.0 3.5 4.0 4.5 5.0 5.5 6) QUANTITY Refer to Figure 8-2. The amount of tax revenue received by the government is a. $2.50. b. $9. c. $4. d. $5. A Moving to another question will save this response. Mac
Please give me answer with detail explanation
If a $6 per unit tax is introduced in this market, then the price that consumers pay will equal, producers receive net of the tax will equal and the price that 12 S 11 10 B 6 10 20 30 40 50 60 70 80 90