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3. When there is elastic demand for a product, who holds the tax incidence? A. The government B. The buyer C. The seller D. The exporting country

3. When there is elastic demand for a product, who holds the tax incidence? A. The government B. The buyer C. The seller D. The exporting country

Principles of Macroeconomics (MindTap Course List)
Principles of Macroeconomics (MindTap Course List)
8th Edition
ISBN:9781305971509
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter8: Application: The Costs Of Taxation
Section: Chapter Questions
Problem 1CQQ
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3. When there is elastic demand for a product, who holds the tax incidence? A. The government B. The buyer C. The seller D. The exporting country 4. The demand and supply functions for product x are given, respectively, by the equations: P = 83.6 0.037 Q P = 15.7 +0.056 Q. A P10 tax per units is levied to the manufacturer. What is the price paid by the buyer before the imposition of tax? A. P56.59 B. P60.56 C. P730.11 D. P622.58 5. The demand and supply functions for product x are given, respectively, by the equations: P = 83.6 0.037 Q P = 15.7 +0.056 Q. A P10 tax per units is levied to the manufacturer. What is the equilibrium quantity before the imposition of tax? A. 56.59 units B. 60.56 units C. 730.11 units D. 622.58 units 6. The demand and supply functions for product x are given, respectively, by the equations: 0.037 Q P = 15.7 +0.056 Q. A P10 tax per units is levied to the manufacturer. What is the equilibrium quantity after the imposition of tax? A. 56.59 units B. 60.56 units C. 730.11 units D. 622.58 units 7. The demand and supply functions for product x are given, respectively, by the equations: P = 83.6 0.037 Q P = 15.7 +0.056 Q. A P10 tax per units is levied to the manufacturer. What is the price paid by the buyer after the imposition of tax? A. P56.59 B. P60.56 C. P730.11 D. P622.58 8. The demand and supply functions for product x are given, respectively, by the equations: P = 83.6 0.037 Q P = 15.7 +0.056 Q. A P10 tax per units is levied to the manufacturer. What is the price received by the seller after the imposition of tax? A. P56.59 B. P60.56 C. P50.56 D. P70.56 9. The demand and supply functions for product x are given, respectively, by the equations: P-83.6- 0.037 Q P = 15.7 +0.056 A P10 tax per units is levied to the manufacturer. How much is the tax burden on the part of the seller after the imposition of tax? A. P10 B. P3.97 C. P6.03 D. P5.0 10. The demand and supply functions for product x are given, respectively, by the equations: P=83.6-0.037 Q P=15.7+0.056 (A P10 tax per units is levied to the manufacturer. How much is the tax burden on the part of the buyer after the imposition of tax? A. P10 B. P3.97 C. P6.03 D. P5.0
Transcribed Image Text:3. When there is elastic demand for a product, who holds the tax incidence? A. The government B. The buyer C. The seller D. The exporting country 4. The demand and supply functions for product x are given, respectively, by the equations: P = 83.6 0.037 Q P = 15.7 +0.056 Q. A P10 tax per units is levied to the manufacturer. What is the price paid by the buyer before the imposition of tax? A. P56.59 B. P60.56 C. P730.11 D. P622.58 5. The demand and supply functions for product x are given, respectively, by the equations: P = 83.6 0.037 Q P = 15.7 +0.056 Q. A P10 tax per units is levied to the manufacturer. What is the equilibrium quantity before the imposition of tax? A. 56.59 units B. 60.56 units C. 730.11 units D. 622.58 units 6. The demand and supply functions for product x are given, respectively, by the equations: 0.037 Q P = 15.7 +0.056 Q. A P10 tax per units is levied to the manufacturer. What is the equilibrium quantity after the imposition of tax? A. 56.59 units B. 60.56 units C. 730.11 units D. 622.58 units 7. The demand and supply functions for product x are given, respectively, by the equations: P = 83.6 0.037 Q P = 15.7 +0.056 Q. A P10 tax per units is levied to the manufacturer. What is the price paid by the buyer after the imposition of tax? A. P56.59 B. P60.56 C. P730.11 D. P622.58 8. The demand and supply functions for product x are given, respectively, by the equations: P = 83.6 0.037 Q P = 15.7 +0.056 Q. A P10 tax per units is levied to the manufacturer. What is the price received by the seller after the imposition of tax? A. P56.59 B. P60.56 C. P50.56 D. P70.56 9. The demand and supply functions for product x are given, respectively, by the equations: P-83.6- 0.037 Q P = 15.7 +0.056 A P10 tax per units is levied to the manufacturer. How much is the tax burden on the part of the seller after the imposition of tax? A. P10 B. P3.97 C. P6.03 D. P5.0 10. The demand and supply functions for product x are given, respectively, by the equations: P=83.6-0.037 Q P=15.7+0.056 (A P10 tax per units is levied to the manufacturer. How much is the tax burden on the part of the buyer after the imposition of tax? A. P10 B. P3.97 C. P6.03 D. P5.0
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