Suppose the market demand for ethanol is QD=60-10P and market supply of ethanol is QS =20+10P If the government institutes a price ceiling of $1.20, what is the effect on economic efficiency? The price ceiling will create deadweight loss of $ (Enter your response rounded to two decimal places.)
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- NoneGiven 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?Please answer the following. A diagram and one paragraph should help to support your answer. Question: With consideration for elasticity (especially PED), what would be one industry in which the government instituting a subsidy would make sense and why?
- Add comments, discussion or calculations to your PART TWO document as directed. The market demand and supply curves for Quebec maple syrup are given by Qd = 2000 – 45P Q, = 35P+ 1000 where the quantities Q are in 1000s of gallons per year. The government of Quebec, seeking additional revenue sources, imposes a $2 per gallon tax on all maple syrup sold in the province. IN YOUR PART TWO DOCUMENT, your work in calculating the size of the deadweight loss of this tax on the market, and drawing relevant pictures. HERE answer the following question: How much deadweight loss will there be as a result of the tax?Market demand for Mandrake roots is given by Q=425-2P and marketsupply is given by Q=5P. The government of Sodden needs money, so it imposes a per unit tax of $5 on mandrake root. How much tax revenue do they raise with this tax?In 1996, Florida voted on (and rejected) a $0.01-per pound excise tax on refined cane sugar in the Florida Everglades Agricultural Area. Swinton and Thomas (2001) used linear supply and demand curves (based on elasticities estimated by Marks, 1993) to calculate the incidence from this tax given that the market is competitive. Their inverse demand curve was p=1.787 -0.0004641Q, and their inverse supply curve was -0.4896 + 0.00020165Q. p=- (Hint: The incidence that falls on consumers is the difference between the price with and without the tax divided by the tax.) Calculate the incidence of the tax that falls on consumers for a competitive market. The incidence that falls on consumers in a competitive market is 70.0 percent. (round your answer to one decimal place) If producers joined together to form a monopoly, and the supply curve is actually the monopoly's marginal cost curve, what is the incidence of the tax? The incidence that falls on consumers is percent. (round your answer to…
- Imagine a firm with a marginal abatement cost ( MAC) function equal to: MAC = 70 - 10E. The government introduces a cap-and-trade policy and grandfathers the firm 5 permits initially. Assuming the market price of permits is $10, the firm will spend a total of $___ in order to buy permits. (Note: your answer can be positive or negative; if it is positive, the firm buys permits and your answer represents the firm's total expenditures on permits; if it is negative, the firm sells permits and your answer represents the firm's total revenues from selling permits).i need Q5 solutionStar wars coffee mugs are traded in a competitive world market with a price of R180 per cup. Unlimited quantities are available for import into South Africa at this price. On average 10 000 kg are traded each month. The elasticity of demand has been estimated at -0.81 and elasticity of supply at 3.51. Derive the demand equation for the star wars coffee mug. . . A. Qd = 12 800 - 45P B. Qd = 15 200 - 35P C. Qd = 18 100 - 45P D. Qd = 20 000 - 50P Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
- Suppose that a lumber-producing firm had a demand for the ability to burn sawdust given by: Q = 90- P. Where Q is amount of sawdust burned when the firm has to pay price (P) per unit of sawdust burned. Calculate the quantity of sawdust burned if there is a per unit tax of $26 per unit of sawdust burned. (Do not include a $ sign in your response. Round to the nearest 2 decimal places if necessary.) Answer: CheckThe demand function of gasoline is Q = 50 – 4.9P, and the supply function is Q = 6+ 2P. Suppose that the government decides to subsidize the consumers $1 for each unit of gasoline consumed. What is the resulting deadweight loss? %3D Answer: 1.82In the free-market equilibrium of a perfectly competitive market, the price of the good is 90 dollars and the elasticity of demand and the elasticity of supply values are respectively Ed* = -6.6 and Es* = 4.1 Suppose the government imposes a per-unit tax equal to 10.4 payable by consumers. Calculate the estimate of the price firms charge consumers in the tax equilibrium using the elasticity values provided above. Then enter that price value below.