Consider the following demand and supply functions. Demand: D(p) = 2750-20p Supply: S(p) = 10p-430 a) First, assume that no taxes are imposed. Find the equilibrium price and quantity. Prices $ 1. Quantity a 1. ilibrium price and qua
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- 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. 7. How much is the change in the price for the consumer, when additional sales tax is 0.85 per unit? Use a number, 2 decimal values, no commas, no space, no signs. * 8. How much is the buying price when sales tax is imposed? Use a number, 2 decimal values, no commas, no space, no signs. *In a given market demand and supply behaviour is characterized by the following functions: D^(-1) : P = 306 — 5Q andS : Q = 10P + 50. A new quantity tax 2 is introduces to be paid by the consumers. What is the difference between the original and the resulting equilibrium quantity (using one decimal)?The demand and supply in a perfectly competitive market are QD = 60 - p and QS = 2p , respectively. The government wants to impose an excise tax $t per unit in order to collect at least $450 of tax revenues. What is the minimum amount of inefficiency (DWL) implied by such a tax?
- In Figure 3.7, applying a $1.05 specific tax causes the equilibrium price to rise by 70¢ and the equilibrium quantity to fall by 14 million kg of pork per year. Using the pork supply function and the original and after-tax demand functions, derive these results using algebra. Figure 3.7Consider 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. compute also the sales tax in order to answer those ff questions 7. How much is the change in the price for the consumer, when additional sales tax is 0.85 per unit? Use a number, 2 decimal values, no commas, no space, no signs. * 8. How much is the buying price when sales tax is imposed? Use a number, 2 decimal values, no commas, no space, no signs. *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 equation, Supply Equation, buyer and seller price after tax.
- C) Given the following information: QD- 240-5P QS= P Where QD is the quantity demanded, QS is the quantity supplied and P is the price. Suppose the government decided to impose tax of $12 per unit on sellers in this market. Determine quantity after taxThe 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?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.
- 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. 9. What is the elasticity of demand at the original equilibrium point? Use a number, 2 decimal values, no commas, no space, no signs. * 10. How much is the change in the price for the producer, when additional sales tax is 0.85 per unit? Use a number, 2 decimal values, no commas, no space, no signs.Given the following information: QD= 240-5P QS= P Where QD is the quantity demand, QS is the quantity supplied and P is the price. Suppose the government decides to impose tax of $12 per unit on sellers in the market. Determine: Tax revenue _____________.Applications of Supply and Demand Framework I. The short-run market demand and supply curves for good X are as follows: QD = 20 - 4P QS = 7 + 2.5P Questions: 1. Find the equilibrium price and quantity before the imposition of the tax. 2. What is the price actually paid by the demanders (Pd) due to a quantity or specific tax of $1 per unit collected from the buyers? 3. What is the price actually received by the suppliers (Ps) due to a quantity or specific tax of $1 per unit collected from the buyers? 4. What is the after- or post-tax quantity? 5. What is the total revenue after the imposition of the quantity or specific tax? 6. How much of the tax do consumers pay (in percent)? 7. How much of the tax do producers pay (in percent)? - Hi! You can answer how many questions you can, that's okay. Thank you ~