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

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#17
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?
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
The graph shows befire-tax, where the equilibrium is at 25. When the government levies the tax of 30 on X, price consumer have to pay changes to 35, and prince sellers recieve changes to 5. And at Ps:5, quantity is at 10. What is the consumers’ tax incidence and sellers’ tax incidence, when comaparing the chnage in the prices from before-tax equilibrium price 25??
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Question 3
3 3 points The figure below shows the market for snowboards in the state of Colorado. The Colorado state legislature has imposed a sales of tax on each snowboard sold. Assume that the pre-tax price of a snowboard was $50. After the tax, consumers are paying $55 per snowboard while firms are receiving $40 per snowboard. DI Arse 1 The tax burden on households is $30 0000 O $5 $10 $15 $20 Sept O100