In the market for used cars, the demand and supply equations are given by Qd = Qs = 0.1P+ 5, 000, where P is the price per car and Q measures the quantity of cars. What is the size of the deadweight loss at a price floor of 15, 000? 12, 000 – 0.4P and
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- The supply of book is perfectly elastic at a price of 200. The demand curve of consumer is given by the function Q=30000000-125000P, suppose that a 80 percent subsidy is imposed on the producer of book. calculate the excess burden resulting from the taxDemand for apples is given by the function P=50-4q while supply is given by P=10+q. If a per-unit tax of $15 is placed on apples, Calculate the deadweight loss?Suppose that Deon places a $150 value on a new MP-3 player, and Juanita places a $140 value on it. The cost of the MP-3 player is $130. Suppose the government levies a $15 tax on MP-3 players, which raises the price to $145. What is the deadweight loss created by the tax? Answer:
- Assuming a supply function of Qs = 100+100p and a demand function of Qd = 700-50p and an equilibrium price of $4 with an equilibrium quantity of 500million gallons please answer the last question regarding the deadweight loss.consider that the market demand for a textbook is given by P=100-2Q and the market supply is given by P=10+Q. Suppose a price ceiling of $20 is imposed. what is the deadweight loss?if deadweight loss is $24,000 under a tax of $4 per unit, what is deadweight loss under a tax of $2 per unit?
- The elasticity for demand of widgets is equal to -2. The deadweight loss caused by a tax on widgets is equal to zero when: A) none of the other answers B) the elasticity of supply is equal to zero C)the elasticity of supply is infinite D) the economic & statutory incidence are the same.Market demand for taxi-rides (x) per day in Smallville is p = 20 − 0.1x. Market supply is perfectly elastic at $10 per ride. There is currently a 10% tax on taxi rides, but the town decides to raise the tax slightly to 11%. Find the marginal excess burden from this policy change, as well as the average excess burden per dollar of revenue, before and after the change.A firm that electroplates inexpensive jewelry produces toxic waste, some of which ends up in a nearby river because of pipe leakage. If state regulators notice the problem and order the firm to make repairs and improve its monitoring processes, the supply curve will shift from S1 to S2.What region of the graph represents the deadweight loss that is eliminated by the change? Use the area tool to outline the region.
- On the Virus island the inverse demand function for masks is given by the formula P=360-Q, where P - price, Q - quantity. The inverse supply function of masks takes the form P=Q. The government of this island decides to support the production of masks by introducing a subsidy per unit equal to 40. What will be the producers’ surplus under these new conditions? a. 15 000 b. 18 000 c. 24 400 d. 20 000 D 20,000 is the correct answer please show the stepsPlease no written by hand solution The demand for the Tesla electric automobile is P = 200,000 – 2Q, where P is in $/car and Q is the number of cars sold per year The supply of the Tesla is P = 20,000 + 10Q, P is in $/car and Q is the number of cars produced per year. Find the equilibrium price and quantity of the car assuming there are no buyer subsidies. Also find consumer and producer surplus and total social welfare.Given a demand curve of P = 92 - 2Q and a supply curve of P = 2 + Q, with a tax of 60, solve for the resulting quantity.