Suppose the government imposes a $10 per unit tax on a good (see diagram below) causing buyers to pay $18 for the item compared with an original equilibrium price of $12. What is the tax revenue the government collects from the sale of this item? Price 24 22 20 A 18 Supply 16 14- 12 10- H 6. 4 K M Demand 2. 369 12 15 18 21 24 27 30 33 36 39 Quantity $100 $80 O $120 O$60 +++

Q: 36 Supply I Quantity (Bottles) 48 32 Demand Price (Dollars per bottle) Şupply Price (Dollars per…

A: Given, Quantity- 48 Demand price- 24 Supply price- 16 Tax wedge- 8 (Price are /bottle)

Q: 1) (a) The demand and the supply functions are given by P= -6QD + 80 and P= 2Qs +10. Find extra pay…

A:

Q: The equilibrium price of a good is $15. Suppose the government introduces a tax on this good. In…

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Q: 20 18 16 14 12 Sapply 10 Demand 16 32 48 64 80 96 112 Suppose that a $6 tax is imposed on consumers…

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Q: Figure 8-6 The vertical distance between points A and B represents a tax in the market. 1Price 22 20…

A: When tax is imposed by the government, there emerges a divergence between the price paid by the…

Q: 3. Consider the following demand and supply functions: Qa = 80 – 2P Q, = -100 + 8P (i) Find the…

A: The demand function depicts the functional relationship between the quantity demanded of a commodity…

Q: Suppose that the demand and supply functions for a good are given as follows: Demand: Q = 720 – 8P…

A: Demand : Qd=720-8P Supply : Qs=-160+3P Equilibrium: Demand=Supply Qd=Qs 720-8P=-160+3P…

Q: 1. The demand curve for cab rides is p = 5 – The supply curve is p = 2 for y < 2,500 and it becomes…

A: demand curve is given as P = 5 -  Y/1,000 Supply Curve is given as P = 2 for Y&lt;2,500 and then…

Q: 8. Consider a competitive market where the market demand and the market sup- ply are given,…

A: QD = 500-2P QS = 2P

Q: Suppose that the demand and supply functions for a good are given as follows: Demand: Q Supply: O…

A: Elasticity of demand refers to proportionate change in quantity demanded with proportionate change…

Q: `P 14 12 10 D 10 20 30 40 50 60 70 What will be the new equilibrium quantity in this market? How…

A: With  the imposition of tax the price paid by consumer increases whereas the price received by…

Q: The demand and supply functions for three (03) goods are given as follows: Dx = 100-3Px+Py+3Pz…

A: Equilibrium is essential for achieving both a fair and productive economy. When a system is at its…

Q: 1) a)Suppose the demand and supply curves for the market of wedding cakes is given as Qd= 50-5P Qs=…

A: The given question has many sub parts, so we are going to answer the first 3 parts for you. If you…

Q: Q4 Suppose the demand and supply curves given in Figure 2 below shows the market of smart phones.…

A: Since you posted a question with multiple sub-parts, we will solve the first three sub-parts for…

Q: Suppose that the shoe market begins in equilibrium, and that its supply and demand is given by: $12…

A: When the government distributes money to consumers or producers through a subsidy, it might be…

Q: PD=12-3q PS= 2+2Q Tax imposed=5 market is in equilibrium. what is the tax burden on…

A: Demand: PD=12-3q qd=(12-P)/3 Supply: PS=2+2Q qs=(P-2)/2 Tax imposed=5   Initial Equilibrium:…

Q: Figure 8-1 PO P" Price J K L M 75 Supply Demand P N Quantity Refer to Figure 8-1. Suppose the…

A: Consumer Surplus is the area above the price line and below the demand curve. It is the difference…

Q: 5. The market demand for super-sticky glue is Q = 240 – 6P and the market supply is Q=-60 + 4P.…

A:

Q: Suppose that the demand curve for wheat is Q° = 200 - 40p and the supply curve is o$ = 40p. The…

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Q: Question 16 Figure #3: The graph below.represents a $10 per unit tax on a good then the amount…

A: Demand of a commodity is inversely related to the price of the commodity, if the price increase…

Q: Suppose the market supply and demand for guitars in Happy Valley are given by: Supply: Q=-60+3P…

A: Given QS=-60+3P QD = 540 - 5P

Q: Figure 4-8 Price (dollars per case) with lax 27 Tax- 20 Quantity (thousands of cases) Figure 4-8…

A: Answer: Correct option: $5 Explanation: Initially, the equilibrium in the market for beer is in…

Q: 15- 14 13 12 11 10- 9- 7. 6- Price Supply Demand 5 10 15 20 25 30 35 40 45 50 55 60 65 70 75 80 85…

A: Hi! Thank you for the question, As per the honor code, we are allowed to answer three sub-parts at a…

Q: Figure 4-10 S2 B D Quantity Refer to Figure 4-10. The accompanying graph shows the market for a good…

A: The tax revenue is the amount generated by imposing some kind of tax on goods and services.

Q: Figure Suppose that the government imposes a tax of P3 - P1. Answer questions 7 to 11 based on this…

A: Charges or taxes are required by legislatures on their residents to create pay for undertaking…

Q: Price S1 20 18 16 14 SO Demand 300 400 500 1000 Quantity Assume that the market in the graph above…

A: Tax revenue is the money that government gets as tax receipts by taxing a good.

Q: B. $2.00 C. $2.20 D. $2.60 E. $1.80

A: The equilibrium in the market is where the demand and supply curve intersect. When the tax is…

Q: 4. Suppose a market has the following supply and demand equations: QD = 380 - 10P and Q = 80 + 5P.…

A: tax revenue refers the revenue collected from the tax and is the revenue for the government here we…

Q: Figure 8-6 The vertical distance between points A and B represents a tax in the market. Price 22 20…

A: Producer surplus is the contrast between how much an individual might want to acknowledge for…

Q: 24 22- 20 16- 14+ Supply 12- 10+ D F G H J 6+ 4 L Demand 2+ + > 4 8. 10 12 14 16 One effect of the…

A: tax reduces the quantity sold from 8 to 4 as a result both producer and consumer surplus decreases.…

Q: Assume that the monthly demand for Gala apple in the US is given by q=1200-300p and quantity is in…

A: Monthly demand for Gala apple; q=1200-300p Monthly supply; q=-200+400p for p&gt;$0.5 At…

Q: In the market for swim suits, demand is P = 53 - 0.013Q and supply is P = 4 + 0.007Q. %3D The…

A: here we calculate the total surplus after the tax by using the given demand and supply , so the…

Q: Suppose that a $8 tax in the market for ice cream cones causes the equilibrium quantity of ice cream…

A: Answer: Given, Change in quantity = 1 Tax amount = $8 The following formula will be used to…

Q: Q Suppose that the market is initially at an equilibrium price of $6 and an equilibrium quantity of…

A: We show that  deadweight loss from the tax given below

Q: Refer to the figure below: 12 11 10 Supply Demand s 10 15 20 25 30 35 40 45 If a tax of $3 is levied…

A: Producer surplus demonstrates the welfare or surplus collected by the suppliers of a good.  It is…

Q: .12) In the effort to reduce alcohol consumption, the government is considering a $1 tax on each…

A: Hey, Thank you for the question. According to our policy we can only answer up to 3 subparts per…

Q: Suppose that in the market for ice cream, with a $5 per ice cream cone tax, the producer effective…

A: When the tax is imposed on the good, the quantity exchanged in the market decreases.

Q: 2. The demand and supply functions of a gcod are given by P = -Qd + 125, 2P = 3Qs + 30. Determine…

A: As you have not mentioned the exact question to answer as per our policy I am answering second…

Q: Assume that the monthly demand for Gala apple in the US is given by q=1200-300p and quantity is in…

A: Demand for Gala apple; q=1200-300p p=1200-q300 Supply of Gala apple; q=-200+400p p=200+q400 Tax…

Q: Figure 8-8 Suppose the government imposes a $10 per unit tax on a good. Price 24 22+ 20 18 Supply…

A: Tax in any economy creates the dead weight loss which is the sum of loss in consumer and producer…

Q: 12) In the effort to reduce alcohol consumption, the government is considering a $1 tax on each…

A: Given: QD= 500,000 – 20,000*PQS= 30,000*PTherefore, at equilibrium,QD=QS500000 – 20000P =…

Q: Suppose demand is D and supply is S0 so that equilibrium price is $10. If an excise tax of $6 is…

A: Demand of a commodity is the desire backed by ability and willingness to pay for the commodity the…

Q: QUESTION 6 Suppose a tax of $4 per unit is imposed on a good, and the tax causes the equilibrium…

A: Deadweight loss of tax measures the overall economic loss which occur due to imposition be of a new…

Q: Suppose that the demand and supply functions for a good are given as follows Demand: Q =1080-7P…

A: At equilibrium, demand and supply curve intersect each other and quantity demand is equal to…

Q: The demand for tomatoes is Q = 40-4P and the supply of tomatoes is Q = P +10. Answer the following…

A: In this question the demand for tomatoes =Q=40-4P and supply for the tomatoes=Q=P+10 Thus the…

Q: Suppose the equations below represent the market supply and demand for cellular service. QD = 50 –…

A: Given : QD = 50 – 0.25P QS = 2P – 76

Q: Assume that the market for a good is in equilibrium at a price of $20 and a quantity of 100 units.…

A: The equilibrium is established where the demand and supply are equal. The imposition of tax by the…