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- Explain why voluntary Martians improve social welfare.Solve economic Which one of the two policies, a tax on pork meat consumption, or a tax on pork meat production, is more efficient? Why?Suppose that the government wants to tax wealthy people. They notice that only wealthypeople buy yachts. So the government decides to tax yachts. Is this an effective way to tax thewealthy? Explain your answer
- The demand and supply functions for three (03) goods are given as follows: Dx = 100-3Px+Py+3Pz Dy = 80+Px-2Py-Pz Dz = 120+3Px-Py-4Pz Sx = -10+Px Sy = -20+3Py Sz = -30+2Pz The equilibrium prices and quantities of all three goods are? The government decides to: a) Impose a 25% Tax on X? b) Impose a 5 Rs /unit Tax on Y? c) Give a 10% subsidy on good z? Analyze the impact of each of these policies separately on equilibrium prices and quantities? Analyze the impact of each of these policies separately on equilibrium prices and quantities?The demand and supply functions for three (03) goods are given as follows: Dx = 100-3Px+Py+3Pz Dy = 80+Px-2Py-Pz Dz = 120+3Px-Py-4Pz Sx = -10+Px Sy = -20+3Py Sz = -30+2Pz The equilibrium prices and quantities of all three goods are? The government decides to: a) Impose a 25% Tax on X? b) Impose a 5 Rs /unit Tax on Y? c) Give a 10% subsidy on good z? Analyze the impact of each of these policies separately on equilibrium prices and quantities? Analyze the impact of each of these policies separately on equilibrium prices and quantities? Provide theoretical justification (using diagrams) of all results obtained?A pollution tax: A increases the price of the good taxed. B decreases the price of the good taxed. C increases the production of the good taxed. Dincreases the quantity ofthe taxed good demanded.
- 1. Complete the following table and identify the quantity that maximizesprofit. Quantity TR MR TC MC 0 0 - 5 - 1 10 2 2 20 15 3 30 10 4 10 37Which one of the two policies, a tax on pork meat consumption, or a tax on pork meat production, is more efficient? Why? Please solve this but not copysPDemand QDemand PSupply QSupply $10 0 $1 2 $9 3 $2 4 $8 6 $3 6 $7 9 $4 8 $6 12 $5 10 $5 15 $6 12 $4 18 $7 14 If the Government creates a quota of 6 units to reduce the consumption of the dangerous product, what will the price of the good be in the marketplace? How much deadweight loss is there? How much of the deadweight loss came from the consumers?
- Implementation of a taxation is necessary in economy. ExplainIf the market price before the tax is $10.05, the tax implemented is $5.9 on buyers, and the market price after the tax is 13.22, then the tax incidence on sellers is what?In an effort to reduce alcohol consumption in Jamaica, the government of Jamaica (GOJ) is considering levying a $2/unit tax on the sale of coconuts (i.e., on the consumer). Suppose the demand curve for liquor is: Qd = 2000 -100p .....(1) and the supply curve for liquor is: Qs = -100 +200p .....(2) i) State who bears the statutory incidence of a $2 per unit tax on the sale of liquor? And who bears the economic incidence of this tax? ii) Calculate the pre-tax and post-tax equilibria, and explain the new equilibrium results in terms of: consumer tax burden, producer tax burden, tax wedge, and government revenue. iii) Provide a carefully labelled graphical analysis of your answers in part a(ii). Indicate on your graph, with accuracy, the pre-tax and post-tax equilibria, consumer tax burden, producer tax burden, and government revenue.
