28. In the long nun, the incidence of a sales tax in an industry with constant returns to scale is a. deferred until the market is able to re-establish an equilibrium price. b. shared between the consumer and the producer, c. wholly absorbed by the producer. d. wholly absorbed by the consumer.
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- 15. For an increasing MC curve, Producer Surplus (PS) is represented by a- The area above the price and below the (inverse) demand curve b- The area above the MC curve c- The area above the MC curve and below the price d- The area below the MC curve e- Both (a) and (c) above are correctPrice per Bushel Quantity Demanded (bushels) Quantity Supplied (bushels) $3 36,000 0 6 30,000 3,000 9 24,000 6,000 12 19,000 10,000 15 15,000 15,000 18 10,000 21,000 21 7,000 28,000 How many bushels will be sold if the market price is $9 per bushel? If the market price is $9 per bushel, what must happen to restore equilibrium in the market? At what price will suppliers be able to sell 24,000 bushels of corn?Q:1 Calculate the market Price/output equillibrium. Graph where equlibrium point, CS and PS is Q:2 Calculate the new Price/output equlibrium, the new CS, PS. Is there dead Weight loss?
- Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure. (Figure: The Market for Yachts) Look at the figure The Market for Yachts. If the government imposes a $60,000 tax on yachts (collected from the producers), the price of yachts will rise to _____ and the government will collect _____.The market for mandrake root in Sodden is perfectly competitive. Market demad is given by Q = 477 - 3P and market supply is given by Q = 3P. the government is concerned about the high prices and imposes a price ceiling of $7. What is the quntitiy traded in the market with this price ceiling? Enter a number only.The market for Mandrake root in Sodden is perfectly competitive. Market demand is given by Q=294-3P and market supply is given by Q=5P . The government is concerned about high prices and imposes a price ceiling of $19. What is the quantity traded in the market with this price ceiling?
- The wheat market is perfectly competitive and the market supply and demand curves are given by the following equations: QD = 20,000,000 - 4,000,000PQS = 7,000,000 + 2,500,000P,where QD and QS are quantity demanded and quantity supplied measured in kilogram (kg), and P = price per kg. question: a) Assume that the government has imposed a price floor at $2.25 per kg and agrees to buy any resulting excess supply.How many quantity (kg) of wheat will the government be forced to buy?Determine consumer surplus with the price floor.Question 14: When the work artists put into their craft exceeds any reasonable expectation of profit or even a break-even return creates a _____. A Demand market B Supply market C Irrational market D Equilibrium marketWhich of the following is true when there is a tax imposed in a market with perfectlyinelastic supply? Assume that the amount of the tax is less than the price before the tax isimplemented.(a) Buyers pay all of the tax(b) Buyers pay some but not all of the tax(c) Price paid by consumers falls by the amount of the tax(d) Price paid by consumers does not change(e) None of the above
- Consider the following supply and demand curves Price = 35-4*Q Price = 3*Q Suppose the government places a 7-dollar tax on producers. Doing so would generate _____ dollars of revenue. Suppose now instead of putting a 7-dollar tax on producers, the government put the 7-dollar tax on consumers. Doing so would generate _______ dollars of revenue. In this case, consumers would pay _____ percent of the tax. Give typed answer ASAP with proper step by step explanation. Will give upvote only for the correct answer . Thank you .Consider the following demand and supply function of product ZT: Qd = 25 - 1.25 P Qs = -9 + 3 P Note: Determine the equilibrium point first to answer the following question. 3. How much is the producer surplus, with out sales tax? Use a number, 2 decimal values, no commas, no space, no signs. * 4. What is the equilibrium point? * a. (15 , 8 ) b. (8 , 15) c. (8 , 25) d. (15 , 21)True/False . A variety of factors can shift the demand curve . Rising demand always leads to higher levels of prices. High prices indicates high inefficiency and a mis-functioning of markets.. The simplest and most efficient way to address this is for government intervene in the market by controlling prices. Controlling prices would always benefit consumers. However there are better and more superior ways that don’t involve the government controlling prices including increasing competition and marginal productivity/product; and reducing marginal cost. Instructions : Assume there is competition in the market . Fully explain in detail with graphs and Math to prove your argument. Explain in detail the pros and cons of policies to be used, that are backed up with graphs, maths and etc. Use real life examples to back up your argument. Logically and correctly link all your arguments. Explain “HOW” and the “WHY” Properly cite all your sources, including graphs, maths and etc.