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1. Suppose you are selling t-shirts at your own t-shirt stand. The supply and demand curves for t-shirts are given below. P=6+0.2Q P=27 -0.1 Q a. b. C. d. e. What is the equilibrium quantity for t-shirt Number What is the equilibrium price for t-shirts? Number If the process of making your t-shirts results in chemical waste that you dump in a nearby stream, creating $ 4 worth of damage to the environment per shirt, what is the socially optimal number of t-shirts for you to sell? Number Given the chemical waste in part c., what is the socially optimal p Number What tax policy could the government use to assure that you sell the socially optimal number of t-shirts? for List Tax t-shirts equal to 4 dollars Subsidize t-shirts equal to 4 dollars Tax t-shirts more than 4 dollars Subsidize t-shirts more than 4 dollars

1. Suppose you are selling t-shirts at your own t-shirt stand. The supply and demand curves for t-shirts are given below. P=6+0.2Q P=27 -0.1 Q a. b. C. d. e. What is the equilibrium quantity for t-shirt Number What is the equilibrium price for t-shirts? Number If the process of making your t-shirts results in chemical waste that you dump in a nearby stream, creating $ 4 worth of damage to the environment per shirt, what is the socially optimal number of t-shirts for you to sell? Number Given the chemical waste in part c., what is the socially optimal p Number What tax policy could the government use to assure that you sell the socially optimal number of t-shirts? for List Tax t-shirts equal to 4 dollars Subsidize t-shirts equal to 4 dollars Tax t-shirts more than 4 dollars Subsidize t-shirts more than 4 dollars

Brief Principles of Macroeconomics (MindTap Course List)
Brief Principles of Macroeconomics (MindTap Course List)
8th Edition
ISBN:9781337091985
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter4: The Market Forces Of Supply And Demand
Section: Chapter Questions
Problem 10PA
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1. a. b C. d. e. Suppose you are selling t-shirts at your own t-shirt stand. The supply and demand curves for t-shirts are given below. P=6+0.2 Q P=270.1 Q What is the equilibrium quantity for t-shirt Number What is the equilibrium price for t-shirts? Number If the process of making your t-shirts results in chemical waste that you dump in a nearby stream, creating $ 4 worth of damage to the environment per shirt, what is the socially optimal number of t-shirts for you to sell? Number Given the chemical waste in part c., what is the socially optimal p Number What tax policy could the government use to assure that you sell the socially optimal number of t-shirts? for List Tax t-shirts equal to 4 dollars Subsidize t-shirts equal to 4 dollars Tax t-shirts more than 4 dollars Subsidize t-shirts more than 4 dollars
Transcribed Image Text:1. a. b C. d. e. Suppose you are selling t-shirts at your own t-shirt stand. The supply and demand curves for t-shirts are given below. P=6+0.2 Q P=270.1 Q What is the equilibrium quantity for t-shirt Number What is the equilibrium price for t-shirts? Number If the process of making your t-shirts results in chemical waste that you dump in a nearby stream, creating $ 4 worth of damage to the environment per shirt, what is the socially optimal number of t-shirts for you to sell? Number Given the chemical waste in part c., what is the socially optimal p Number What tax policy could the government use to assure that you sell the socially optimal number of t-shirts? for List Tax t-shirts equal to 4 dollars Subsidize t-shirts equal to 4 dollars Tax t-shirts more than 4 dollars Subsidize t-shirts more than 4 dollars
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