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Assess the effects of
(Hint: Government policies and intervention)
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- Many governments subsidise electric vehicles. Draw two sup- ply and demand diagrams (one for electric vehicles and one for petrol- powered vehicles) to show the impact of an electric vehicle subsidy. As- sume that an increase in electric vehicles sales reduces petrol powered vehicles by the same amount. On these diagrams show: (a) The quantity of both types of vehicles before the subsidy. (b) The quantity of both types of vehicles after the subsidy. (c) The deadweight losses in both markets before and after the subsidy. 4. is a fuel excise or an electric vehicle subsidy a better policy response to address externalities associated with driving? Your answer should draw on the answers above and could also include: Which policy is simpler to administer. How the two policies impact use of other forms of transport (like public transport or riding a bike). Which policy is fairer. Any additional information that you would like to know to inform your decision Note:- Do not provide…What is the difference between the primary market and thesecondary market?In the market for therbligs, the supply curve is Ps=$10+$0.05Qs and the market demand curve is Pd=$20-$0.10Qd If an excise tax is imposed on therbligs, what fraction of that tax will be borne by therblig sellers?
- suppose that the local government of Columbus decides to institute a tax on seltzer consumers. Before the tax, 20,000 packs of seltzer were sold every week at a price of $10 per pack. After the tax, 15,000 packs of seltzer are sold every week; consumers pay $12 per pack (including the tax), and proceeds nrecieve $5 per pack.If the government levies a $700 tax per motorcycle on sellers of motorcycles, then the price paid by buyers of motorcycles wouldThe division of a tax burden between Consumers and Producers is known as Tax IncidenceProducers bear the majority of a tax burden in which of the following circumstances?
- The Australian government have suggested that they might need to increase GST to help fund the COVID-19 rescue package. GST is a tax on goods and services usually paid at the point of sale. Consider the market for bread. Suppose a loaf costs $4.15 and includes a 15-cent tax per loaf. q5-Why would this tax be both socially inefficient and inegalitarian? Use the concepts of deadweight loss and wealth inequality.If the price of a product rises by an amount less than the established tax, 1. Suppliers bear the tax 2. sellers bear the tax 3. buyers and sellers share the burden of tax 4. Buyers bear the taxWhich of the following statements about corrective taxes is generally not true? a) Economists prefer them to command-and-control regulation. b) They raise government revenue. c) They cause deadweight losses. d) They reduce the quantity sold in a market.
- What is an example of a market that govenrments should not tax for economic reasons?Discuss how elasticity of demand can impact the size of the deadweight loss in a market subject to taxationRent control aims to limit landlords from imposing high rents. A rent control is an example of a: * Subsidy Price floor Price ceiling Tax
