Suppose that the demand and supply for floor standing speakers are given by:Demand: Qd=5,000-3PSupply: Qs=-1,000+5PIf the government imposes a $400 tax, how much would the consumers pay and how much wouldthe sellers receive?Pconsumers=$350; Psellers=$750Pconsumers $900; Psellers=$500Pconsumers=$750; Psellers=$350Pconsumers $1000; Psellers=$600

Equilibrium is achieved at the output level where Qs equals Qd

Suppose that the demand and supply for floor standing speakers are given by: Demand: Qd=5,000-3P Supply: Qs=-1,000+5P If the government imposes a $400 tax, how much would the consumers pay and how much the sellers receive? oooo Pconsumers=$350; Psellers=$750 Pconsumers $900; Psellers=$500 Pconsumers $750; Psellers=$350 Pconsumers $1000; Psellers=$600

Suppose that the demand and supply for floor standing speakers are given by: Demand: Qd=5,000-3P Supply: Qs=-1,000+5P If the government imposes a $400 tax, how much would the consumers pay and how much the sellers receive? oooo Pconsumers=$350; Psellers=$750 Pconsumers $900; Psellers=$500 Pconsumers $750; Psellers=$350 Pconsumers $1000; Psellers=$600

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

Given the supply - demand function of printers in Vietnam as follows:Sx = -20000 + 250PDx = 160000-350PKnowing that Vietnam is considered a small country, the price of a printer on the world market is $120/piece.a. If the Government of Vietnam levies an import tax of 25% on this item, calculate the loss to domestic consumers. How much is the import tax revenue from the Vietnamese government's printer products in this case?b. Due to the commitment to integration, the Government of Vietnam applies an import tax rate of 12.5% for printers, calculate the change in the import tax revenue of the Government of Vietnam.c. To ensure that there are no more imports, what is the minimum tax rate that the Vietnamese government should set?
Market for TVs are perfectly competitive. Assume TV supply is point elastic and upward sloping Government imposes consumer tax upon TVs. If point elasticity of demand is inelastic, is deadweight loss generated by the tax higher or lower relative to where the point elasticity of demand is elastic.
The inverse demand for table salt is p = 200qd+1 , while the inverse supply of table salt is p = 10+ 2qs. a. Find the equilibrium price of table salt before AND after the imposition of a 40% ad valorem tax on the consumers of table salt. b. Describe the distribution of the burden (incidence) of this ad valorem tax between consumers and producers. c. Find and interpret the price elasticity of supply (es) at the after-tax equilibrium price and quantity.
2. The demand and supply functions of shirts are given by; Demand function: P = 50 - 1.5Q Supply function: P = 22 + 2Q Using the information above; Find the equilibrium price and quantity ii. If a tax of GH¢ 10.00 per unit is imposed calculate the equilibrium price and quantity iii. The distribution of tax Analyse the introduction of price maximum of GH¢15 on shirt in the market ii. Calculate th profit made by black marketers if black market operated in this market as a result of the introduction of price maximum of GH¢ 15 in the market
Plz solve all parts, i vll definitely upvote
Given the supply - demand function of printers in Vietnam as follows: Sx = -20000 + 250P Dx 160000-350P Knowing that Vietnam is considered a small country, the price of a printer on the world market is $120/piece. a. If the Government of Vietnam levies an import tax of 25% on this item, calculate the loss to domestic consumers. How much is the import tax revenue from the Vietnamese government's printer products in this case? b. Due to the commitment to integration, the Government of Vietnam applies an import tax rate of 12.5% for printers, calculate the change in the import tax revenue of the Government of Vietnam. c. To ensure that there are no more imports, what is the minimum tax rate that the Vietnamese government should set?
Suppose the supply is perfectly inelastic, which means the price elasticity of supply is 0. A government wants to introduce a new tax. Which of the following is true? Regardless of who the tax is levied on, the price will increase. OConsumers bear the burden of the tax. Regardiess of who the tax is levied on, the deadweight loss is equal to 0. The tax will decrease the quantity traded in the market.
1. The daily market demand and supply for hotel rooms are given by Q = 160 - Pand Q = P - 40. a. If a per-unit tax of $20 per room is imposed to help fund a sports stadium, how much do consumers pay for rooms? b. If a per-unit tax of $20 per room is imposed to help fund a sports stadium, how much total tax revenue is generated? c. If a per-unit tax of $20 per room is imposed to help fund sports stadium, how much is the deadweight loss of the tax? d. If a per-unit tax of $20 per room is imposed to help fund sports stadium, consumer surplus shrinks from what to what? e. If a per-unit tax of $20 per room is imposed to help fund a sports stadium, how much do sellers receive per room net of taxes?
Solve the second part
Graph B.5. shows the economics offects of a per-unit tax Refer to Graph B 5. to answer (38 following questions Graph B.5 P S P₁ D₂ D₁ Q Q₁ Q₂ Qs (a) is the tax levied on buyers or on sellers? (b) What is the price buyers pay after the tax is imposed? (c) What is the price the sellers receive after the tax is imposed? (d) What area represents government tax revenue after the tax is imposed? Ps ܘ ܘ ܘ ܘ ܘ P₂ B C F 11 J К H L M
Explains
What is the buyers’ share of the burden of the tax _______?