Demand function of Commodity X: 2Qx = 2200 - Px • Supply function of commodity X: Qx = - 300 + 3 Px • Sales tax per unit = 150. • Calculate: • A. Total surplus before and after tax. • B. Total welfare loss, government revenue and excess-burden = DWL • C. Draw the graph completely.
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- Suppose the following demand and supply function of a commodity. Qd = 55 - 5P Qs = -50 + 10P After imposing tax, the new supply function is Qs = -60 + 10P 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.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 taxThe market for pizza is characterized by a downward sloping demand curve and an upward sloping supply curve. Suppose that the government forces each pizza house to pay a Php2 tax on each pizza sold. Illustrate the effect of this tax on the pizza market. Label the consumer surplus, producer surplus, government revenue, and deadweight loss. How does each area compare to the pre-tax case?
- 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. 5. How much is the total surplus, with out sales tax? Use a number, 2 decimal values, no commas, no space, no signs. * 6. How much is the consumer surplus, with out sales tax? Use a number, 2 decimal values, no commas, no space, no signs. *Consider a market with the following demand and supply curves: Q (p) = 20 – 2P Q (p) = - 10 + 3P (b)Suppose the government imposed a sales tax of $0.80 per unit of output sold, find the price paid by the consumer, the price received by the supplier, the equilibrium quantity transacted, and the total tax revenue received by the government. (c)What do you think is the purpose for such tax policy? In your explanation, include a brief discussion of the importance of price elasticity of demand in the choice of commodities to be taxed in order to achieve specific policy goal(s).Given: Qd = 240 - 5P Qs = P Where Qd is the quantity demanded, Qs is the quantity supplied and P is the price. Suppose the government decides to impose a tax of $12 per unit on sellers in this market. Determine: A) The consumer surplus after tax B) The producer surplus after tax C) The tax revenue
- (Answer the f) Its is known that the demand function for a product is P = 24 - 1/2Q and the supply function Q = 4 + 2P. If the government then increases the seller's tax on the product amount of IDR 20/ unit of goods, what is the price and quantity of goods new balance Calculate the tax burden borne by consumers & manufacturers, as well governement tax revenue F. Calculate the amount of subsidy received by consumers and manufacturers , as well subsidies issued by the governmentThe demand function D(p) = 200 - 4p and supply function is S(p)= 6p1. Find the equilibrium price and quantity2. If government collect $10 unit tax from each product, find the equilibrium demand and supplyprices.3. How much tax revenue is collected?4. What is the deadweight loss amount as a result of taxation?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: 1.Consumer surplus after tax 2. producer surplus after tax 3. tax revenue 4. deadweight loss of the tax 5. total surplus after tax
- 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: Total Surplus after tax _____________.Show that given a linear demand schedule and constant marginal cost, the excise tax will lead to a decrease in the level of output while increasing the price by half of the tax rate.The market demand for a product is Q = 290 - 7P, and the market supply is Q = -90 + 12P (where Q is quantity and P is price). The elasticity of demand: -.90 The elasticity of supply: 1.20 Suppose the government imposes a $1.20 tax per unit. 1. Use the values for price elasticity of demand and supply to calculate the tax burden on consumers relative to suppliers (or producers). 2. What is the actual tax burden on suppliers? 3. What is the actual tax burden on consumers? 4. Calculate the deadweight loss of the tax, using only the price elasticity of demand and supply, the per-unit tax, and equilibrium price and quantity. Please do fast ASAP fast