The following graph depicts a market where a tax has been imposed. P, was theequilibrium price before the tax was imposed, and Qe was the equilibrium quantity.After the tax, Pc is the price that consumers pay, and Ps is the price that producersreceive. QT units are sold after the tax is imposed. NOTE: The areas B and C arerectangles that are divided by the supply curve ST. Include both sections of thoserectangles when choosing your answers.STS.AP.GP.the deadweight loss createdas a result of the taxthe total tax revenuecellectod from thic toxE.P. the deadweight loss createdas a result of the taxthe total tax revenuecollected from this tax1. A+B + C + E + F +Gthe total cost to society, interms of lost total surplus,created as a result of the2.A + Etax3. F+GF + Gthe sum of producer andconsumer surplus in thismarket after the tax isimposed4.В + Сthe sum of producer andconsumer surplus in thismarket before the tax isimposed

Pre-tax equilibrium is at intersection of D and S curves. Post-tax equilibrium is at intersection of…

the deadweight loss created as a result of the tax the total tax revenue collected from this tax the total cost to society, in terms of lost total surplus, 1. A+B+ C + E +F +G created as a result of the 2. A+E tax 3. F+G the sum of producer and consumer surplus in this market after the tax is 4. B+C imposed the sum of producer and consumer surplus in this market before the tax is imposed >

the deadweight loss created as a result of the tax the total tax revenue collected from this tax the total cost to society, in terms of lost total surplus, 1. A+B+ C + E +F +G created as a result of the 2. A+E tax 3. F+G the sum of producer and consumer surplus in this market after the tax is 4. B+C imposed the sum of producer and consumer surplus in this market before the tax is imposed >

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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A5
Price P2 P1 P3 Figure A-1 Ice Cream I NI KI X I I W q2 ql S2 S1 D Quantity (scoops) Figure A-1 represents the market for ice cream before and after a per-scoop tax. What does the area w represent? O the resulting loss of producer surplus O the resulting loss in consumer and producer surplus O the resulting tax revenue generated O the resulting consumer surplus generated
Suppose the vertical distance between points S and R represents a tax in the market. Please answer the questions under the case of the tax. What area is the tax revenue to the government? What is the amount of the tax revenue? What area is the consumer surplus represented by? What is the amount of consumer surplus? What area is the producer surplus represented by? What is the amount of producer surplus? What area is the deadweight loss represented by? What is the amount of deadweight loss? What is the buyers’ share of tax burden? What is the sellers’ share of tax burden?
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Price $150 200 250 300 350 400 450 500 550 600 650 1. Equilibrium price $350 2. Quantity 50 3. Consumer Surplus? 6250 4. Producer Surplus? 6250 500 7. Remove the tax. Imposes a price floor $100 below the equilibrium price a Fiquilibrium price $350 and quantity? 50 Quantity Demanded 100 90 5. What is the total surplus? 12500 6. Suppose a $200 unit tax is placed on the good being sold. How much tax revenue is to be made? 4000 b. Resulting amount of surplus/shortage if any (0 if none) 0 8. Remove the price floor Impose a price ceiling $50 below the equilibrium price a Equilibrium price $350 and quantity? 50 b. Resulting amount of surplus/shortage (0 if none) o 80 70 60 50 40 30 20 10 0 Quantity Supplied 10 20 30 40 50 60 70 80 90 100 . How much deadweight loss is created (0 if none)?
1. The demand for the product S is Q = 500 – 8P and its supply is Q = 200 + 4P. The good is currently untaxed, but the government needs to raise tax by taxing per unit of the good. a. Calculate excess burden for the product S. b. Calculates marginal excess burden for the product S? %3D The exact amount of the tax is not specified.
Refer to Figure 8-2. Producer surplus without the tax is a. $10, and producer surplus with the tax is $3. b. $10, and producer surplus with the tax is $1. c. $4, and producer surplus with the tax is $3. d. $4, and producer surplus with the tax is $1. Icon Key 039.08.MANK09 The vertical distance between points A and B represents a tax in the market. PRICE 12 11 10 9 8 Figure 8-2 7 6 5 4 3 2 1 A Supply Demand 0.5 1.0 1.5 2.0 2.5 3.0 3.5 4.0 4.5 5.0 5.5 6.0 QUANTITY Question 13 of 20
24 22 20 A 18 Supply 16 14 12 10 B 4 Demand 3 6 9 12 15 18 21 24 27 30 33 36 QUANTITY Consider the market described by the graph above where the vertical distance between points A and B represents a tax in the market. The per-unit burden of the tax on sellers is $4 and the tax results in a loss of $72 in producer surplus. $8 and the tax results in a loss of $24 in producer surplus. $8 and the tax results in a loss of $72 in producer surplus. $4 and the tax results in a loss of $24 in producer surplus. PRICE
A $5/ unit excise tax was applied. Please help me.
Figure 8-5 Suppose that the government imposes a tax of P3 - P1. P4 P3 P2 Pl Price F. 4 CO OA. O F G D+H. 02 OC+H. 2 H I Q1 Refer to Figure 8-5. The tax causes a reduction in producer surplus that is represented by area Supply Demand Quantity
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 ++++ Quantity 10 15 20 25 30 35 40 45 50 55 60 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 Note: Make sure to calculate the exact dollar amount with the steps. T T T F Paragraph 只i8公 Arial 3 (12pt) O f • Mashups HOO HTML CSS Click Save and Submit to save and submit. Click Save All Answers to save all answers.
A $5/ unit excise tax was applied. Please help me.