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- The following graph represents the demand and supply for blinkies (an imaginary product). The black point (plus symbol) indicates the pre-tax equilibrium. Suppose the government has just decided to impose a tax on this market; the grey points (star symbol) indicate the after-tax scenario. PRICE (Dollars per blinkie) 64.00 48.00 32.00 Demand A B D F 20 C E 40, 48 40 Supply QUANTITY (Blinkies) ?what happens in supply and demand when there is decrease in income tax but also an increase in sales tax draw the possible graph or graphsSummarize your views on whether a glut or overproduction -excess supply of all goods in an economy- is possible or not. Refer to economists in the 18th and 19th centuries. hello can you help me? I need a short explanation(a few sentences). thanks.
- Tax incidence usually falls A. only on producers. B. on both consumers and producers. C. only on consumers. D. on the government.Which policy increases the consumption of a good? a price floor/a price ceiling / a subsidy/ a taxWhat determines by how much the price goes up when the government implements a price floor? Question 5 options: The government All the other answers are incorrect The elasticity of supply The elasticity of demand
- In which of the following cases would an excise tax be borne mostly by sellers? a. A tax on expensive jewelry. b. A tax on gasoline. c. A tax on food sold in grocery stores. d. A tax on cigarettes. e. A tax on painkiller medicationsThe image attatchded shows a supply and demand curve for a product. (a) Find a price where the supply and demand curve would predict a surplus in the marketplace for the produce. Explain how you know there would be a surplus using using data from the supply and demand curve. (b) Estimate the price where the consumers would completely stop buying the product. Explain how you found your answers by referring to the above graph. (c) Estimate the price where the free market would eventually settle according to the supply and demand curve.Select the correct answer. When looking at rent control a price ceiling typically impacts: Group of answer choices both supply and demand supply demand neither
- A government decides to reduce air pollution by reducing the use of petrol and imposes a specific tax of £0.50 on energy companies for each litre of petrol sold. Use a supply and demand diagram and show the effect of the tax on consumer and producer surplus and comment on the incidence of the tax on consumers of energy and producers of energy.Which of the following is a general sustain downward moment of prices for goods and service in an economy? Which of the following is a common criticism of government price controls?Tax revenue when tax is $80 Tax revenue when tax is $40 Tax revenue when tax is $120 The graph shows the demand and supply of bungee jumps in Xtremeland. The government decides to impose an excise tax on bungee jumps to help pay for the high number of back and neck injuries.
