SECTION#_ C0 NAME__va, Noemi PRINT LAST NAME, FIRST NAME Commodity taxes usually result in deadweight loss because a tax causes quantity to: fall, increasing both consumer surplus and producer surplus. fall, decreasing both consumer surplus and producer surplus. rise, increasing both consumer surplus and producer surplus. rise, decreasing both consumer surplus and producer surplus. PRIN NAME 5. a. b. c. d. Use the gr Use the graph below to answer questions 6 through 10. Price Supply + Tax 8.50 Supply 6.50 5.50 4.50 Demand 3.50 2.50 Quantity 0. 750 1,500 units will be If there is no tax and the market has achieved equilibrium, then each. 6. bought and sold for a price of 750; $6.50 750; $3.50 1,500; $6.50 1,500; $4.50 a. C. b. If there is no tax and the market has achieved equilibrium, consumer surplus is equal to and producer surplus is equal to $3,000; $1,500 $1,500; $3,000 7. $1,500; $750 $750; $1,500 a. C. b. d. If a $3 per-unit tax is imposed in this market, the quantity consumed changes to and the price paid by consumers changes to 750; $6.50 750; $3.50 a. 1,500; $6.50 1,500; $4.50 C. b. d. If a $3 per-unit tax is imposed in this market, the quantity produced changes to the price retained by sellers changes to 750; $6.50 750; $3.50 and a. 1,500; $6.50 1,500; $4.50 C. b. d. 10. If a $3 per-unit tax is imposed in this market, there is a deadweight loss of: a. $750 b. $1,125 $2,250 C. d. $4,800 d. 8. 9.
SECTION#_ C0 NAME__va, Noemi PRINT LAST NAME, FIRST NAME Commodity taxes usually result in deadweight loss because a tax causes quantity to: fall, increasing both consumer surplus and producer surplus. fall, decreasing both consumer surplus and producer surplus. rise, increasing both consumer surplus and producer surplus. rise, decreasing both consumer surplus and producer surplus. PRIN NAME 5. a. b. c. d. Use the gr Use the graph below to answer questions 6 through 10. Price Supply + Tax 8.50 Supply 6.50 5.50 4.50 Demand 3.50 2.50 Quantity 0. 750 1,500 units will be If there is no tax and the market has achieved equilibrium, then each. 6. bought and sold for a price of 750; $6.50 750; $3.50 1,500; $6.50 1,500; $4.50 a. C. b. If there is no tax and the market has achieved equilibrium, consumer surplus is equal to and producer surplus is equal to $3,000; $1,500 $1,500; $3,000 7. $1,500; $750 $750; $1,500 a. C. b. d. If a $3 per-unit tax is imposed in this market, the quantity consumed changes to and the price paid by consumers changes to 750; $6.50 750; $3.50 a. 1,500; $6.50 1,500; $4.50 C. b. d. If a $3 per-unit tax is imposed in this market, the quantity produced changes to the price retained by sellers changes to 750; $6.50 750; $3.50 and a. 1,500; $6.50 1,500; $4.50 C. b. d. 10. If a $3 per-unit tax is imposed in this market, there is a deadweight loss of: a. $750 b. $1,125 $2,250 C. d. $4,800 d. 8. 9.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
Question 6
Transcribed Image Text:SECTION#_ C0
NAME__va, Noemi
PRINT LAST NAME, FIRST NAME
Commodity taxes usually result in deadweight loss because a tax causes quantity to:
fall, increasing both consumer surplus and producer surplus.
fall, decreasing both consumer surplus and producer surplus.
rise, increasing both consumer surplus and producer surplus.
rise, decreasing both consumer surplus and producer surplus.
PRIN
NAME
5.
a.
b.
c.
d.
Use the gr
Use the graph below to answer questions 6 through 10.
Price
Supply + Tax
8.50
Supply
6.50
5.50
4.50
Demand
3.50
2.50
Quantity
0.
750
1,500
units will be
If there is no tax and the market has achieved equilibrium, then
each.
6.
bought and sold for a price of
750; $6.50
750; $3.50
1,500; $6.50
1,500; $4.50
a.
C.
b.
If there is no tax and the market has achieved equilibrium, consumer surplus is equal to
and producer surplus is equal to
$3,000; $1,500
$1,500; $3,000
7.
$1,500; $750
$750; $1,500
a.
C.
b.
d.
If a $3 per-unit tax is imposed in this market, the quantity consumed changes to
and the price paid by consumers changes to
750; $6.50
750; $3.50
a.
1,500; $6.50
1,500; $4.50
C.
b.
d.
If a $3 per-unit tax is imposed in this market, the quantity produced changes to
the price retained by sellers changes to
750; $6.50
750; $3.50
and
a.
1,500; $6.50
1,500; $4.50
C.
b.
d.
10.
If a $3 per-unit tax is imposed in this market, there is a deadweight loss of:
a.
$750
b.
$1,125
$2,250
C.
d.
$4,800
d.
8.
9.
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