In the diagram to the right, illustrating a per-unit tax equal to P, minus P3, tax and the excess burden of the tax revenue is represented by the areas S2 is represented by areas P2 B D 's E A C Quantity (millions per year) ..... Price (dollars per unit)
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Q: Question 2c - part 1 Given the following information Qo = 240 - 5P Qs = P where Qp is the quantity…
A: We have, Qd=240-5P & Qs=Pwe know at equilibrium,Qd=Qs240-5P=P240=6PP=40Also Qs=P=40 Let's put…
Q: QD = 240-5p QS = P Where QD is the quantity demanded, Qs is the quantity supplied and P is the…
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A: We are going to find the tax burden on consumer and producer to answer this question.
Q: Suppose demand is given by the equation Pp = 100 – 2Qp and supply is given by the equation PS = 50 +…
A: Equilibrium quantityPD=PS100-2Q=50+3Q100-50=3Q+2Q5Q=50Q=505Q=10
Q: Question 2c - part 1 Given the following information Qo = 240 - 5P %3D Qs = P %3D where Qp is the…
A: The equilibrium is found where the demand(dd) and supply(ss) cut each other. Graphically,
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Q: The demand and supply in a perfectly competitive market are QD = 60 - p and QS = 2p , respectively.…
A: QD=60-p and QS=2p In market equilibrium QD=QS so p=$20 and quantity =40 units
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Q: Consider a product that is fixed on supply QS=4 and the demand for the product is givenby QD= 10-2P.…
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A: The correct answer to the above-mentioned question is C+E; B+D.
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Q: Case #1: Attached is a graph diagram depicting the market for soft drinks. If an excise tax equal to…
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Q: Now calculate the government's tax revenue if it sets a tax of $0, $20, $40, $50, $60, $80, or $100…
A: tax Q TR 0 60 0 20 48 960 40 36 1440 60 24 1440 80 12…
Q: Case II: Attached is a graph diagram depicting the market for soft drinks. If an excise tax equal to…
A: Due to the imposition of excise tax of $1, the supply curve shifts upwards to S+Tax . The graph will…
Q: Case II: Attached is a graph diagram depicting the market for soft drinks. If an excise tax equal to…
A: This is a hand drawn diagram. So, there can be little discrepancies. The new equilibrium quantity of…
Q: 1. Suppose the demand for consumer goods is P=100-2Q. The supply of consumer goods is MC=20+0.5Q. a)…
A: P=100-2Q MC=20+0.5Q
Q: ANSWER E 2. The function of supply and demand for an item P = 14 - 2Q and P = 5 + 2Q. When against…
A: P = 14 - 2Q P = 5 + 2Q Equilibrium, demand = supply: 14 - 2Q = 5 + 2Q 4Q=9 Q=2.25 P = 9.5
Q: Using demand curve approach, explain how a commodity tax incurs excess burden
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A: The following figure is given:
Q: The supply and demand curves for sugar are given by the following: P= 10+2Q (Supply) P=40-2Q…
A: Supply curve : P = 10+2Q Demand curve : P = 40-2Q At equilibrium, Demand = Supply 10+2Q = 40-2Q
Q: Given the demand and supply equations : P + 1/2QD = 10 3P - Qs = 17 a) Find the equilibrium…
A: As given Demand function is P = 10 - 0.5Qd and supply function is 3P - Qs = 17 》 P = (17+Qs)/3
Q: The figure below shows that the imposition of an indirect tax shifts the supply curve to the left.…
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Q: Q2: Suppose the demand function is p = 50 - 2q………………1 and the supply function is p = 10 +…
A: Since you have posted multiple parts questions, we will solve the first one for you. If you want any…
Q: A $6 per unit tax is introduced into a market summarized by the demand and supply diagram below. The…
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A: Given: The demand curve for a market is: Qd = 20 - 2P The supply curve for a market is: Qs = -10 +…
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A: Answer: Introduction: Incidence of tax: incidence of tax refers to the burden shared by producer and…
Q: Quantity Demanded: QD= 240-5P Quantity Supplied: QS= P Suppose the government decides to…
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Q: suppose demand is given by q d(p)=1-p and supply q s(p)=p with prices in dollars.if buyers pay a 10…
A: Given information; Quantity demanded: qd(p)=1-p Quantity supplied: qs(p)=p Tax on buyer= 10 cent
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Q: Given the following information: QD= 240-5P QS= P Where QD is the quantity demand, QS is the…
A: ANS Given; QD=240-5PQS=P At equilibrium QD = QS ∴240-5P=P⇒6P=240⇒P=2406=40 Putting P = 40 in the…
Q: Consider a product that is fixed on supply QS=4 and the demand for the product is given by QD=…
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Q: Question 2d Given the following information Qp = 240 – 5P %3D Qs = P where Qp is the quantity…
A: Given - QD=240-5P, and QS=P, where QD and QS are demand and supply equations respectively.
Q: Fill in the following table with the quantity sold, the price buyers pay, and the price sellers…
A: Given: Tax=$20.30
Q: In the diagram to the right, illustrating a per-unit tax equal to P, minus Pa, tax revenue is…
A: Tax revenue = D and F Excess burden = E and G
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- For the following calculations the tax threshold is $1,500,000 and the taxable income is taxed at 25%. Statutory deductions total 7.5% of the gross salary or wages.You work as a production manager at a food processing plant and earn a gross monthly salary of $345,000. i). Calculate your net monthly salary. ii). In addition to your salary you receive a $300, 000 Christmas bonus. Your friend Marie, the marketing manager with a salary close to yours, receives the same bonus. Do the work necessary to show that the net bonuses are $202,500. iii). You use all of your net bonus to buy a motorcycle which depreciates at 11% p.a. at the end of each year. Calculate the value of your motorcycle at the end of 3 years. iv). Marie invests her net bonus in a tax free retirement fund which pays 5.5% p.a. interest compounded monthly. Calculate the value of Marie’s investment at the end of 3 years.Need answers ASAP... 9. As an employee of a company, it is a must to pay tax to the government for its operation. This taxation burden is called: a. fixed tax b. property tax c. impact tax d. income taxMarginal tax rate in KS for single filter is T(I)= 3.1% $0 ≤ I ≤ 15,000 5.25% $15,000 ≤ I ≤ 30,000 5.7% I > 30,000 The standard deduction is $3,000 How much would someone who earns $13,000 a owe in state taxes?
- Aquatech Microsystems reported a TI of $80,000 last year. If the state income tax rate is 6%, determine the (a) average federal tax rate, (b) overall effective tax rate, (c) total taxes to be paid based on the effective tax rate, and (d) total taxes paid to the state and paid to the federal government.The Johnson’s had two children, both of them are married and now have their own families, call them Family A and Family B. They both file their U.S. income taxes as married, filing jointly. Information collected for a year for each family is shown below. Neglecting any effect of state taxes, use a spreadsheet and the latest tax rates from the IRS publication 17, Your Federal Income Tax (www.irs.gov), to determine the following for each family: (a) Percentage of TI paid in federal taxes. (b) Percentage of total income (salaries, dividends, and other) paid in federal taxes. Family A B Salaries, $1000 65 290 Dividends, $1000 8 58 Other income 0 14 Exemptions 5 3 Deductions, $1000 12 25 Exemptions are $4000 per individual (adult or child). Deductions for Family A are standard and itemized for B.Qd = 240 - 5p Qs = P Where Qd is the quantity demanded, Qs is the quantity supplied and P is the price. Suppose the government impose a tax of $12 per unit on sellers in the market. Determine; the tax revenue, deadweight loss and total after tax
- There are a variety of taxes that a person pays when buying an airline ticket. One tax is called the LUST fuel tax. LUST stands for leaking underground storage tank. The LUST tax is to establish a trust fund to provide money for oversight and corrective action against owners of leaking underground storage tanks and provides money for cleanup of LUST sites where the owner or operator is unknown. Is it efficient for customer’s of airlines to beforced to pay the tax?For tax year 2018 a married couple filing jointly has a taxable income of $120,000. How much do they owe in taxes? (do not include the $ in your answer)QD = 240 - 5P QS = P where QD is the quantity demanded, QS is the quantity supplied and P is the price. Suppose that the government decides to impose a tax of $12 per unit on sellers in this market. Determine: Producer suprlus after tax
- The per-unit tax on a good is the Select one: a. difference between the list price and the actual price paid by the buyer. b. licensing fees and other business taxes paid by sellers, averaged over the total quantity of goods sold. c. difference between wholesale and retail prices. d.difference between the total price paid by the buyer and the price received by the seller.What is the tax liability share for consuConsider the following tax system: Tax Brackets Marginal Tax Rates 1 0 – 50,000 10% 2 50,000 – 100,000 15% 3 100,000 – 150,000 18% 4 150,000 – 200,000 25% 5 200,000 – 250,000 30% 6 250,000 + 33% Assume that a business executive receives a gross monthly salary of $225,000. i) Calculate the average and marginal tax rates that he/she has to pay. ii) If the NIS, NHT and education tax amounts due at the end of November are $3,125.00, $5,600.08, and $5,040.35 respectively, what amount in net income (after-tax income) should the business executive expect to see on his pay stub. iii) Advise the Minister on the potential benefit of eliminating progressive taxation
