Question 11 Explain how do the tax incidence and deadweight loss of a commodity tax vary with the elasticities of demand and supply (you do NOT have to refer to the specific demand and supply in the exercise above. You have to discuss, in general, how the elasticities of demand and supply affects the tax incidence and deadweight loss. A BIEEP E

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A: Answer- Need to find- Relationship between tax size and deadweight loss. What happened to the…

Q: loss from this tax?   You can answer this in one (or more) of the following ways: Paste a picture…

A: DwL is the loss of market welfare after the tax 0f $6 per unit.

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A: The market for junk food is represented in the below steps.

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Q: The demand and supply equations for a product are: Q^d=300-6p and Q^x=-40+6p. . Determine the…

A: Given: Qd= 300-6p Qx = -40+6p

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A: Elasticity of demand and supply depict the responsiveness of change in quantity demanded/supplied…

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Q: Suppose the weekly demand for a product is given by p+2g = 840 and the weekly supply before taxation…

A: Given : Weekly demand=p+2q=840 and p=840-2q Weekly supply=p=0.02q2+0.62q+7.1

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A: Note:  We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

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A: Correct answer "supply; upward".