This is the question on my price theory economics homework. I reworked the equations so that P (vertical y axis) was on the left of the equation and Q the x-axis. I, however, cant seem to figure it out. I tried submitting this question earlier, but it wasnt able to be answered. I added the multiple choice options. I reworked Q=1/2P to P=2Q P(with $5 tax)= 2Q+5 I reworked Q=20-2P to P=10-1/2Q Let supply be Q=1/2 P and Demand be Q=20-2P. If a Tax of $5 is imposed the DWL=......., the total tax collected is .........of which the burden of the tax on the consumer = ........... a. 2, 10, 5 b. 5, 10, 2 c. 10, 2, 5 d. None of the above
This is the question on my price theory economics homework. I reworked the equations so that P (vertical y axis) was on the left of the equation and Q the x-axis. I, however, cant seem to figure it out. I tried submitting this question earlier, but it wasnt able to be answered. I added the multiple choice options. I reworked Q=1/2P to P=2Q P(with $5 tax)= 2Q+5 I reworked Q=20-2P to P=10-1/2Q Let supply be Q=1/2 P and Demand be Q=20-2P. If a Tax of $5 is imposed the DWL=......., the total tax collected is .........of which the burden of the tax on the consumer = ........... a. 2, 10, 5 b. 5, 10, 2 c. 10, 2, 5 d. None of the above
Chapter17: Capital And Time
Section: Chapter Questions
Problem 17.6P
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This is the question on my price theory economics homework. I reworked the equations so that P (vertical y axis) was on the left of the equation and Q the x-axis. I, however, cant seem to figure it out. I tried submitting this question earlier, but it wasnt able to be answered. I added the multiple choice options.
I reworked Q=1/2P to P=2Q P(with $5 tax)= 2Q+5
I reworked Q=20-2P to P=10-1/2Q
Let supply be Q=1/2 P and Demand be Q=20-2P. If a Tax of $5 is imposed the DWL=......., the total tax collected is .........of which the burden of the tax on the consumer = ...........
a. 2, 10, 5
b. 5, 10, 2
c. 10, 2, 5
d. None of the above
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