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 burdenon the part of the seller after the imposition of tax?A. P10B. P3.97C. P6.03D. P5.010. 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 taxburden on the part of the buyer after the imposition of tax?A. P10B. P3.97C. P6.03D. P5.011. 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. How much is thegovernment revenue?A. P6225.8B. P7311.1C. P5960.7D. P6252.8Modified TRUE or FALSE: On the space provided before the number, place TRUE for correct statementand for incorrect statement, WRITE the word that makes the statement wrong, then write the correctword BESIDE the incorrect word. For example, DEMAND/SUPPLY.12-13. With a specific demand, the more inelastic the supply, the larger is the portion of the tax borneby producers.14-15. If the supply of product Y is more elastic with respect to price in the long run than in the shortrun, then all else equal, a tax falls more on buyers in the short run than in the long run16-17. When Es=co(perfectly elastic) and Ed=0 (perfectly inelastic), the whole incidence falls to theseller.18-19. When Ed (elasticity of demand) is greater than Es (elasticity of supply), more tax incidence ison the seller.20-21. When Es(elasticity of supply) is greater than Ed (elasticity of demand), more tax incidence ison buyer.||

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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 11. 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. How much is the government revenue? A. P6225.8 B. P7311.1 C. P5960.7 D. P6252.8

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 11. 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. How much is the government revenue? A. P6225.8 B. P7311.1 C. P5960.7 D. P6252.8

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter3: Demand Analysis

Section: Chapter Questions

Problem 11E: Federal excise taxes on gasoline vary widely across the developed world. The United States has the...

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Federal excise taxes on gasoline vary widely across the developed world. The United States has the lowest taxes at USD $0.40 per gallon (or Â£0.07 per liter), Canada has taxes of $0.60 per gallon, Japan and much of Europe is $2.00 per gallon, while Britain has the highest tax at $2.83 a gallon or Â£0.5 per liter. If gasoline taxes are intended to reduce the time losses from road congestion in urban environments and gasoline pre-tax costs about Â£0.40 per liter, why might the optimal tax in Canada be 50 percent higher than in the United States? What would be an explanation for why adjacent countries would have such different estimates of the price elasticity of demand for auto driving?16
The demand and supply functions for product M are P = 83.6 - 0.037 Q P = 15.7 + 0.056 Q. A P10 tax per units is levied to the producer. Question: What is the P received by the seller after the imposition of tax? and how much will be the tax burden on the part of the producer after the imposition of tax? How much will be the tax burden in the part of buyer on the other hand?
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