Payroll tax imposed Show what happens to worker and producer surplus when a payroll tax is imposed. Show the deadweight loss associated with the payroll tax.
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- Describe the impact of a payroll tax on wages and employment in a competitive industry. Why is part of the tax shifted to workers? What is the deadweight loss of the payroll t ax?(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 governmentDemand 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.
- supply and demand functions is Qs=20+3P and Qd=75-2P. Answer: what is equilibrium price and quantity using obtained equilibrium price and quantity calculate Consumer and Producer surplus using after tax equilibrium price (8% tax) and quantity calculate total surplus and deadweight loss. Typed answer please. I ll rateRubber for erasers is produced in the market. There are equations for the Supply and Inverse Demand of eraser rubber that model its Supply and Demand graph. These equations are (for supply), P = 20 + Qs, and (for Inverse Demand), P = 80 - Qd. With that said, the government realizes that it is not turning out enough revenue from the market. As a result, it places a per-unit sales tax of $10. (Part I) Draw the market equilibrium with the government intervention (Q**, PD**, and PS**) of the sales tax. Please label the graph for slopes, equilibrium points, sales tax, etc. (Part II) What is the market equilibrium without the intervention of the government? (Part III) The government once again realizes that the previous tax was not sufficient, and the government is still not making enough money. So, it increases the sales from $10 to $20. Consequently, what is the new market equilibrium point (Q**, PD**, and PS**) with this new intervention? It is not necessary to label this point on the…In the economy of Agricola, tenant farmers rent theland they use from landowners. If the supply of landis perfectly inelastic, then a tax on land would have_________ deadweight losses, and the burden of thetax would fall entirely on the _________.a. sizable; farmersb. sizable; landownersc. no; farmersd. no; landowners
- Quantity Demanded: QD= 240-5P Quantity Supplied: QS= P Suppose the government decides to impose a tax of $12 per unit on sellers, determine the demand and supply equation after tax. Determine the buyers and sellers price after tax, quantity, consumer surplus and producer surplus after tax, tax revenue, deadweight loss of the tax and the total surplus after tax.The figure below displays a market for teenage labor with a minimum wage of $6 per hour How many workers are unemployed at the $6 minimum wage? LS-LD. 30 (=70-40) The government places an hourly tax of $1 per worker on employers. Show the effect of the tax on the demand for labor. With both minimum wage and the labor tax, how many workers do firm employ? What is the incremental effect of the tax on employment? With both minimum wage and the labor tax, how many workers are unemployed? What is the incremental effect of the tax on unemployment?Consider the labor market. Suppose that the supply of labor is = 2 + H/2 and the demand for W=52−2H. Where W is wage and is hours worked. Now suppose that the government levies a $5 per hour payroll tax on buyers of labor (firms). Determine the worker (supplier) and firm (buyer) tax burdens. Determine the deadweight loss associated with this payroll tax.
- The government of a State has been experiencing an increase in number of obesity cases. Research suggests an increase in consumption of a particular fast food item is responsible for high number of obesity cases. As a result, the government of that State is considering an imposition of $1 tax. Monthly demand and supply for this good are QD=21-1P and QS= -1+1P respectively. Draw the demand and Supply curve for fast food before the tax is imposed. Calculate the equilibrium price and quantity, consumer and producer surplus, and label them on the graph. Calculate the price elasticity of demand and supply for fast food. If the State government imposes a tax, who will bear the most of the burden of the tax? Suppose that the State government finally imposes a $1 tax on fast food. What will the new equilibrium price and quantity? Include the tax on your graph. Calculate the consumer and producer surplus and label them on the graph. Is there any deadweight loss resulting from the tax on that…ANSWER E 2. The function of supply and demand for an item P = 14 - 2Q and P = 5 + 2Q. When againstthe goods are subject to tax of t = 2 per unit, then calculate:A. The point of market equilibrium after tax.b. Tax burden borne by consumers and producers.c. And if the item is given a subsidy of s = 1, determine itnew market balance.d. What is the amount of subsidies issued by the government.e. Draw the curve.What are the possible impacts of increasing the Goods and Services Tax on various stakeholders? in terms of elastic, inelastic products / employment rates / in the long term/ in the short term / etc? And can you draw graph to illustrate?
