The demand and supply curves for a price taking firm are as follows:   Qd = 10- 0.5 Pd Qs= -2+Ps, when Ps>=2 Qs= 0, when Ps<2 where Qd is the quantity demanded when the price consumers pay is Pd, and Qs  is the quantity supplied when the price producers receive is Ps. Answer the questions below:  Explain in detail (using demand and supply curves), when a tax is imposed, who would burden the tax?

Q: Suppose the following demand and supply function: Qd = 750 – 25P Qs = -300 + 20 P            Find…

A: Consumer surplus is used to represent the total amount that a consumer saves because of the…

Q: market for N-95 masks is perfectly competitive. Market Demand is given by Q=434-2P and Market Supply…

A:

Q: b) You are given the following demand and supply functions Qd = 12 - 0.3 P demand function Qs = -2 +…

A: At equilibrium, demand and supply are equal.

Q: ← A price ceiling is given along with demand and supply functions, where D(x) is the price, in…

A: We are given in the question:Demand Function: D(x)= 114-xSupply Function: S(x)=14+0.25xStep 1:…

Q: The market for Mandrake root in Sodden is perfectly competitive. Market demand is given by Q=344-4P…

A: The perfect competition is a market type which is characterized by a large number of buyers and…

Q: The market for N-95 masks is perfectly competitive. Market Demand is given by Q=464-2P and Market…

A: Given :  Demand :Q = 464 - 2 P  Supply : Q = 5P

Q: The demand and supply in a perfectly competitive market are QD = 60 - p and QS = 2p , respectively.…

A: QD=60-p    and QS=2p In market equilibrium QD=QS so p=$20 and quantity =40 units

Q: A rice producing company faces the following demand function:  Pd = 300 – 0.10Q. The firm’s…

A: Disclaimer :- as you posted multipart questions we are supposed to solve the first 3 questions only…

Q: The demand and supply equations listed below describe the market for high-quality, one-hour…

A: The state in which the quantity (Q) of a good or service demanded by consumers equals the Q supplied…

Q: Consider the market for designer shoes where the inverse demand curve is P = 400 - 4Q. There is only…

A: The price equation, as well as the marginal cost of the firm, is given. The total revenue can be…

Q: A3) Consider a perfectly competitive market. The industry demand curve is QD = 7-2P. The ndustry…

A: the demand curve is Qd=7-2P and  supply curve is QS=P government imposes the tax of 1 on consumers

Q: Suppose the demand for pickles on The Citadel is Qd=500-4P, and the supply is Qs=6P. Assume this…

A: Demand for pickles on the citadel  Qd = 500 - 4P supply Qs = 6P

Q: The market for N-95 masks is perfectly competitive. Market Demand is given by Q=391-2P and Market…

A: Given : Market demand : Q = 391 - 2 P  Market supply : Q = 4P

Q: If a tax of $1.20 is imposed on consumers in this market, what is the tax revenue?

A:

Q: Given the following supply, demand and marginal revenue fi QS = 5P-25 Q = 100-5P MR = 20-2/5Q (a)…

A: Competitive equilibrium occurs when demand and supply forces are equal. Firms are price taker in…

Q: The supply and demand functions of a company are P = In(Q+2) and P = In(12) - In(Q+1) respectively.…

A: The Point where Demand and Supply Intersect each Other is known as the Equilibrium Point. To…

Q: Question 1 The supply and demand functions of a company are P = √5Q and P = 16-√√, respectively. a)…

A: Demand shows the relation between P and Q that consumers are willing to buy, assuming all other…

Q: A firm could produce three units if it decides the market price makes it valuable enough to do so.…

A: A metric called producer surplus indicates the financial gain that a producer or seller receives…

Q: Consider a perfectly competitive market where the demand for the good is given by Q=777-18p, where Q…

A: Demand curve is the downward sloping curve.  Supply curve is the upward sloping curve.  Equilibrium…

Q: Q1) for a-firm how does the concept of producer surplus differ from that of profit.?

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: A perfectly competitive market has the following demand and supply: QD = 400- 10p Q5 = 40p Suppose…

A: In economics, specifically general equilibrium theory, a perfect market, also known as an atomistic…

Q: Suppose that you are the vice president of operations of a manufacturing firm that sells an…

A: At equilibrium, quantity supply matches with its demand.

Q: The market for Mandrake root in Sodden is perfectly competitive. Market demand is given by Q=352-4P…

A: Given  Demand equation  Q=352-4P and  Supply equation Q=2P Price ceiling at P=$12

Q: Consider a perfectly competitive market in which the direct market demand curve is Q(P)=140-10P and…

A: Perfectly competitive market is the market where homogenous goods are exchanged at constant price…

Q: puppose there is a downward sloping demand curve that has a y-intercept of 60 and an upward sloping…

A: In a free economy, equilibrium can be attained by the intersection of the demand curve and the…

Q: Assuming no government intervention in this market; what would be the equilibrium price? S If the…

A: A monopoly is a form of imperfect competition where there is a single supplier and numerous buyers.…

Q: Calculate producer surplus when a production quota at q = 10 is introduced in a market with demand d…

A: The imposition of quota by the government leads to rise in inefficiency. The part of consumer…

Q: A report shows that the catch of a fish stock can be increased. The fishing authority wishes to…

A: Marginal revenue function=MR=1700-300X Marginal cost function=500+200X X= fisher's per effort=3.5

Q: The wheat market is perfectly competitive, and the market supply and demand curves are given by the…

A: A perfectly competitive market is characterized by numerous buyers and sellers, homogeneous…

Q: Suppose in a perfectly competitive market with demand and supply as follows: 100 D(q) = %3D S(q) =…

A:

Q: When the market price is equal to the minimum value of the average variable cost curve marginal…

A: When the market price is equal to minimum value of the AVC, then at that point MC cuts AVC from…

Q: Consider the perfectly competitive market for fire extinguishers in the town of Emberton. The demand…

A: We are going to find the tax burden on consumers, seller and the impact of per unit taxes on a…

Q: The market for N-95 masks is perfectly competitive. Market Demand is given by Q=389-2P and Market…

A: The total surplus is sum total of consumer surplus and producer surplus. The imposition of quota…

Q: Which of the following statements is correct? A) The law of demand is only relevant for perfectly…

A: In a market, changes in market condition will influence the buying and selling decision of buyers…

Q: Suppose ve construction companies have the ability to buld a tactory overnseas to produce a…

A: Here we calculate the producer surplus by using the given data so the calculation of the following…

Q: The wheat market is perfectly competitive, and the market supply and demand curves are given by the…

A: The government uses a price floor as a technique for price control to specify the minimum price at…

Q: . Now a tax of 1.5$ per unit is imposed on the manufacturer which he puts entirely on the price of…

A: The equilibrium price of a commodity is the price at which the quantity demanded of the commodity…

Q: When the perfectly elastic supply curve shifts upwards (increase in price), does producer surplus…

A: Supply curve being perfectly elastic simply means that even a small change in price of the product,…

Q: None

A: We are given the demand and supply functions as;  Pd = 119- 1Q, Ps = 49.7 + 7.3Q,    Here  , we need…

Q: the demand and supply curves for a product are given as: 2q-15p=-120 q+2p = 35 Find the consumer…

A: The dynamic interplay of supply and demand, price changes, and customer behavior is referred to as…