tall, increasing both consumer surpli tall, decreasing both consumer surplus and rise, increasing both consumer surplus and producer rise, decreasing both consumer surplus and producer surplus. NAME PRINT LAST NAME, 5. Commodity taxes usually result in de a. b. C. d. Use the graph below to answer questions 6 through 10. Supply + Tax Price 8.50 Supply 6.50 5.50 Demand 4.50 3.50 2.50 Quantity 1,500 750 units will be If there is no tax and the market has achieved equilibrium, then 1,500; $6.50 1,500; $4.50 6. each. bought and sold for a price of C. 750; $6.50 750; $3.50 a. d. b. If there is no tax and the market has achieved equilibrium, consumer surplus is equal and producer surplus is equal to $3,000; $1,500 $1,500; $3,000 $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 8. a. 1,500; $6.50 1,500; $4.50 C. b. d. 9. If a $3 per-unit tax is imposed in this market, the quantity produced changes to the price retained by sellers changes to an 750; $6.50 750; $3.50 a. b. 1,500; $6.50 1,500; $4.50 C. d. If a $3 per-unit tax is imposed in this market, there is a deadweight loss of: 10. a. $750 b. $1,125 C. $2,250 d. $4,800 Chapter 7 Assignments 148 1. 7.
tall, increasing both consumer surpli tall, decreasing both consumer surplus and rise, increasing both consumer surplus and producer rise, decreasing both consumer surplus and producer surplus. NAME PRINT LAST NAME, 5. Commodity taxes usually result in de a. b. C. d. Use the graph below to answer questions 6 through 10. Supply + Tax Price 8.50 Supply 6.50 5.50 Demand 4.50 3.50 2.50 Quantity 1,500 750 units will be If there is no tax and the market has achieved equilibrium, then 1,500; $6.50 1,500; $4.50 6. each. bought and sold for a price of C. 750; $6.50 750; $3.50 a. d. b. If there is no tax and the market has achieved equilibrium, consumer surplus is equal and producer surplus is equal to $3,000; $1,500 $1,500; $3,000 $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 8. a. 1,500; $6.50 1,500; $4.50 C. b. d. 9. If a $3 per-unit tax is imposed in this market, the quantity produced changes to the price retained by sellers changes to an 750; $6.50 750; $3.50 a. b. 1,500; $6.50 1,500; $4.50 C. d. If a $3 per-unit tax is imposed in this market, there is a deadweight loss of: 10. a. $750 b. $1,125 C. $2,250 d. $4,800 Chapter 7 Assignments 148 1. 7.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question 7
Transcribed Image Text:tall, increasing both consumer surpli
tall, decreasing both consumer surplus and
rise, increasing both consumer surplus and producer
rise, decreasing both consumer surplus and producer surplus.
NAME
PRINT LAST NAME,
5.
Commodity taxes usually result in de
a.
b.
C.
d.
Use the graph below to answer questions 6 through 10.
Supply + Tax
Price
8.50
Supply
6.50
5.50
Demand
4.50
3.50
2.50
Quantity
1,500
750
units will be
If there is no tax and the market has achieved equilibrium, then
1,500; $6.50
1,500; $4.50
6.
each.
bought and sold for a price of
C.
750; $6.50
750; $3.50
a.
d.
b.
If there is no tax and the market has achieved equilibrium, consumer surplus is equal
and producer surplus is equal to
$3,000; $1,500
$1,500; $3,000
$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
8.
a.
1,500; $6.50
1,500; $4.50
C.
b.
d.
9.
If a $3 per-unit tax is imposed in this market, the quantity produced changes to
the price retained by sellers changes to
an
750; $6.50
750; $3.50
a.
b.
1,500; $6.50
1,500; $4.50
C.
d.
If a $3 per-unit tax is imposed in this market, there is a deadweight loss of:
10.
a.
$750
b.
$1,125
C.
$2,250
d.
$4,800
Chapter 7 Assignments
148
1.
7.
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