(3) Analyze the following statement: Federal farm price supports can never achieve their goals because the above equilibrium price floors that are established by the Ministry of Agriculture invariably create surpluses, which in turn drive prices back down to their original equilibrium.
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(3) Analyze the following statement: Federal farm price supports can never achieve their goals because the above
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- The following graph represents the demand and supply for pinckneys (an imaginary product). The black point (plus symbol) indicates the pre-tax equilibrium. Suppose the government has just decided to impose a tax on this market; the grey points (star symbol) indicate the after-tax scenario. Complete the first table, given the information presented on the graph. In the second table, indicate which areas on the previous graph correspond to each concept. Check all that apply.Q2. Suppose the following demand and supply function of a commodity. 15 Qd = 220 - 20P Qs = -200 + 40P After imposing tax, the new supply function is Qs = -240 + 40P Find out the equilibrium price and quantity before tax. Find consumer and producer surplus before tax. Determine government revenue and dead weight loss after tax.The following graph represents the demand and supply for an imaginary good called a pinckney. The black point (plus symbol) indicates the pre-tax equilibrium. Suppose the government has just decided to impose a tax on this market; the grey points (star symbol) indicate the after-tax scenario. Complete the following table, given the information presented on the graph. Result Value Per-unit tax Price producers receive before tax Equilibrium quantity after tax In the following table, indicate which of the previous graph’s areas corresponds to each concept. Check all that apply. Concept A B C D E F Producer surplus after the tax is imposed Tax revenue after the tax is imposed Consumer surplus after the tax is imposed
- Which of these is one effect of government price supports in the agriculture industry? The supply of agricultural goods is reduced relative to consumer demand. There is a greater competition from foreign agricultural suppliers. The price of agricultural goods is lower for consumers. There is a greater efficiency in the use of farmland by agricultural producersWhen the price is 10 TL for each pack of cookies, the supply is 250 thousand and the demand is 120 thousand boxes.When the price is 9,5 TL for each pack of cookies, the supply is 200 thousand and the demand is 240 thousand boxes. Since the price-demand and supply-demand equations are linear; If a tax is applied to the consumer at the rate of T=0.75 TL per product, find and interpret the market balance point after tax.QUESTION 1: TAXATION Suppose that the government of China decided to impose a per unit tax on the suppliers of salt. a) Using a supply and demand model, show and explain the impact that the per-unit tax had on the equilibrium price and quantity of salt. b) Using the diagram created for your answer to (a), show and explain what effect the per unit tax had on consumer surplus, producer surplus and deadweight loss. c) List three reasons a government may impose a tax. Discuss the link between government revenue from taxation and elasticity of demand.
- Q3 Consider the following demand and supply equations Q subscript d open parentheses P close parentheses equals 2410 minus 3 P Q subscript S open parentheses P close parentheses equals 100 plus 12 P Suppose that the government imposes a $30 tax on the product Assume that the sellers collect the tax from buyers and submit the tax to the government Calculate the price that sellers receive after the tax is imposed (i.e., the price excluding the per unit tax they submit to the government)given the following information Qd=240 -5p and Qs= P Where Qd is the quantity demanded and Qs is the quantity supplied and P is the price. suppose the government decided to impose a tax of $12 per unit on the sellers in the market. Determine Demand and supply equation. Recheck consumer surplus calculation. Calculate Tax revenue, deadweight loss and total surplus after taxgiven the following information Qd=240 -5p and Qs= P Where Qd is the quantity demanded and Qs is the quantity supplied and P is the price. suppose the government decided to impose a tax of $12 per unit on the sellers in the market. Determine Demand equation, Supply Equation, buyer and seller price after tax.
- How will the imposition of a fiscal policy for an increase in import duties on vehicles impact Consumer surplus Producer surplus and the total surplusgiven the following information Qd=240 -5p and Qs= P Where Qd is the quantity demanded and Qs is the quantity supplied and P is the price. suppose the government decided to impose a tax of $12 per unit on the sellers in the market. Determine Demand and supply equation. Buyers price after tax, sellers price after tax, quantity after tax, consumer surplus and producer surplus.The following graph represents the demand and supply for an imaginary good called a pinckney. The black point (plus symbol) indicates the pre-tax equilibrium. Suppose the government has just decided to impose a tax on this market; the grey points (star symbol) indicate the after-tax scenario.