The graph below shows supply and demand curves before tax Price $65 $60 $55 $50 $45 $40 $35 $30 $25 $20 $15 $10 $5 $0 I 0 14 28 42 1 Market Equilibrium 56 70 84 98 Quantity Supply-Demand 112 126 140 154 Calculate how much tax revenue the government will raise if it imposes a $15 tax on this good 168 182

The graph below shows supply and demand curves before tax Price $65 $60 $55 $50 $45 $40 $35 $30 $25 $20 $15 $10 $5 $0 I 0 14 28 42 1 Market Equilibrium 56 70 84 98 Quantity Supply-Demand 112 126 140 154 Calculate how much tax revenue the government will raise if it imposes a $15 tax on this good 168 182

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Consumer and Producer surplus Stax P $100 $70 $50 $45 $X $5 D 40 60 Assume an excise tax that has caused a decrease in Supply as shown on the graph above Show all work. а. How much is the tax per- unit b. How much is the value of X (intercept of the green line). How do you describe what that value is? C. How much is the consumer surplus before the tax? d. How much is producer surplus before the tax? е. How much is the consumer surplus after the tax? f. How much is producer surplus after the tax? g. How much is the deadweight loss as a result of the tax
(Figure: Determining Tax Burdens) Based on the graph, the original market price is $4. The graph depicts a tax of with a corresponding deadweight loss of Price ($) 98765432 T X D 0 50 100 150 200 250 300 350 400 450 500 550 600 Quantity $6; $3 $3; $150 $6; 50 units $3; $75
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Question 4 Figure #3: The graph below represents a $10 per unit tax on a good then the amount bought and sold in the market is only 4 units. Note that Q represents quantity and P represents price. P. 24 20 A 16 Supply 12 GIH 8. 4. K M Demand 4 6 10 12 14 16 Refer to Figure #3. The government collects tax revenue that is (or are) the area(s) represented by the area OF-G-L OL OB-D Oc-F
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.
The vertical distance between points A and B represents the original tax. 12+ 11+ 10 9 8 7. 6 Price 2 1 D 05 1 15 2 25 3 35 4 45 5 Quantity Refer to Figure 8-19. If the government changed the per-unit tax from $5.00 to $7.50, then the price paid by buyers would be $10.50, the price received by sellers would be $3, and the quantity sold in the market would be 0.5 units. Deadweight loss would now be a. $1.50 O b. $0.50 c. $4.0 Od. $0.625
Using the supply and demand data for wheat below, what would happen if the government placed a $3 per bushel tax on wheat? Bushels demanded 45 50 56 61 67 Price per bushel $6 $5 $4 LA LA LA $3 $2 Bushels supplied 77 73 68 61 57 O the producer price would fall, the consumer price would rise, and the quantity sold would increase. The producer price would fall, the consumer price would rise, and the equilibrium quantity would fall O Both the consumer price and the producer price would rise the consumer price would rise by less than $3 while the producer price would fall by more than $3 O the equilibrium consumer price would rise by $3
Figure 4-5. The graph shows the impact of an excise tax. Price $2.00 1.50 1.00 .50 B A M E H K I 350 F 500 Quantity tax G Stax $1.00 for consumers and $0.50 for producers $1.00 for consumers and $1.00 for producers. $0.25 for consumers and $0.75 for producers. $0.50 for consumers and $0.50 for producers. S DSR Refer to Figure 4-5. The amount of the actual tax burden paid by consumers and producers is
Kel ng Time: * Question Completion Status: The vertical distance between points and represents a tax in the market. PRICE 12 10 9 8 CO 76 5 inutes, 37 seconds. 4 3 2 1 A B Supply Demand +++ H 0.5 1.0 1.5 2.0 2.5 3.0 3.5 4.0 4.5 5.0 5.5 6) QUANTITY Refer to Figure 8-2. The amount of tax revenue received by the government is a. $2.50. b. $9. c. $4. d. $5. A Moving to another question will save this response. Mac
QUESTION 7 Figure: The vertical distance between points A and C represents a tax in the market. 1000 900 Price 800 700 600 500 400- 300 200- 100- b. Supply Demand 10 20 30 40 50 60 70 80 90 100110 Quantity Refer to Figure. After the taxes a. there will be a loss to the consumers of the amount $4,000. there will be a loss to the consumers of the amount $6,000. C. there will be a loss to the consumers of the amount $2,000. d. there will be a loss to the consumers of the amount $8,000.
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9. When a sales tax is imposed on sellers, we can imagine a hypothetical supply curve shifted to the left such that the vertical distance between the original supply curve and the new (supply + tax) curve equals the sales tax divided by the price elasticity of demand. sales tax multiplied by the price elasticity of demand. sales tax multiplied by the price elasticity of supply. amount of the sales tax.