The tax on cigarettes in New York City is the higher in the nation--$5.85 per pack.  Does this tax raise a lot of revenue for New York City?  Why or why not?

Q: How to determine consumer surplus, producer surplus, tax revenue, economic surplus after tax?

A:

Q: Thoroughly analyze the impact of taxes on tobacco through the perspective of a smoker (a consumer in…

A: Elasticity is frequently defined as a measure of a variable's sensitivity to changes in another.…

Q: Suppose that the demand for insulin is perfectly inelastic with respect to price.  If a tax of $3…

A: The demand for insulin is perfectly elastic, i.e., vertical demand curve.  The tax of $3 per vial of…

Q: What happens to a country's economy if there is a high tax for the company that earns more in that…

A: Taxes are the mandatory payments that has to he made to the government.

Q: Why do taxes create a deadweight loss the same way that regulations do? If a tax and a quota raise…

A: The loss of something which is considered to be good economically that tends to occurs due to the…

Q: Seeing a golden opportunity to increase its revenue, assume the City of Boston has decided to levy a…

A: When a tax is imposed on every unit of quantity sold, then the tax burden is shared by the seller…

Q: Why is gasoline heavily taxed? Explain

A: A government plays a crucial role to overcome the problem of scarcity in the economy. It regulates…

Q: Where does our taxes goes? What are the things that the government do to our taxes? Who are those…

A: As economies emerged, economic agents increased their demand for goods and services. Production of…

Q: What is the price that suppliers will receive after the tax? а. 30

A: When govt imposes tax on either buyer or seller, burden of the tax will be shared by both by buyer…

Q: If a tax of $1.20 is imposed on consumers in this market, what is the tax revenue?

A:

Q: If the government wants to use a Pigouvian tax to alleviate the problem of obesity contagion, what…

A: We are going to discuss ways to minimize negative externalities.

Q: "In South Africa, the tax on insulin is between 10 and 20 percent. If you are rich and living in…

A: Introduction this topic related to Insulin which is consumed by diabatic person's.

Q: What would happen if Texas collects less taxes and generates less revenue?

A: In an economy, it can be seen that the taxes are the major part or component of government revenue.

Q: What are pros and cons to increasing the gasoline tax?

A: Taxes are unintended fees placed on individuals or companies and levied by a government agency –…

Q: If the government decide to increase taxes on sugar, who do you think will carry the burden of…

A: The equilibrium price and quantity of a good or service is determined by the forces of market demand…

Q: Is it true, as many people claim, that taxes assessed on producers are passed along to consumers?…

A: Taxes are obligatory contributions levied by a government agency on people or companies. Taxation…

Q: Congress and the president decide that the United States should reduce air pollution by reducing its…

A: The decision made by congress and president of the United States to reduce air pollution by taxing…

Q: the demand for beer is more elastic than the demand for milk. would a tax on beer or a tax on milk…

A: Deadweight loss: deadweight loss is the loss to society that occurs with the introduction of…

Q: why do comsumers pay the tax on goods if the elasticity of demand is less than the elasticty of…

A: Demand is said to be inelastic when the change in price leads a change in quantity demanded in…

Q: If the government places a tax of $500 on luxury cars, what happens in the market? Please assume…

A: Demand refers to the quantity that a consumer wishes to purchase at a given price in a given period…

Q: Suppose the market for cigarette is competitive. An economist estimates the price elasticity of…

A: It is given that elasticity of demand= -0.8, and elasticity of supply=0.7 is inelastic in nature.…

Q: How does a tax on a good affect the price paid by buyers, price receive by sellers, and the quantity…

A: Tax is a term that defines a charge imposed by the ruling authority, that is government, on market…

Q: Caffeine is a highly addictive drug found in coffee, tea, and some sodas. Unlike cigarettes,…

A: The effectiveness of taxes on controlling consumption depends oñ the extension of demand or the…

Q: Daniel Patrick Moynihan, the late senator from New York, once introduced a bill that would levy a…

A: A 10,000 percent tax on bullet will not likely to generate a lot of revenue.  The reason is as the…

Q: Suppose the government wants to maximize tax revenue. Some policymakers suggest taxing cigarettes,…

A: Tax revenue is the product of the tax amount and the quantity of the good consumed. The tax creates…

Q: benefits of subsidies

A: A subsidy is an incentive given by the government to individuals or businesses in the form of cash,…

Q: Does the Constitution create the power for the State to tax? Justify.

A: In an economy/society, various economic, social and political principles and rules are implemented…

Q: Suppose the price elasticity of demand for smartphones is 0.5 (absolute value), while the price…

A: PED (price elasticity of demand) = 0.5PES (price elasticity of supply) = 1.9Because PES > PED, it…

Q: What happens to the deadweight loss and taxrevenue when a tax is increased?

A: Taxes refer to the legal proceedings and the formalities that need to be addressed by every citizen…

Q: Would consumer or producer carry the burden of tax if good is elastic? Show on a graph

A: The tax burden is decided based on the elasticity of demand and supply. If elasticity of demand is…

Q: What is consumerism? What rights do consumers have, and why do somecritics feel buyers need more…

A: Consumers: An individual or a gathering who plans to request, request, or uses bought merchandise,…

Q: A county government has decided that it needs to generate more revenue to pay for repaving all of…

A: The government collects taxes to finance its expenditure incurred while adopting various…

Q: Scenario...Recently there has been discussion in the news about taxing junk food (soft drinks, for…

A: If policymakers are trying to reduce the incidence of obesity by imposing a tax on junk food, then…

Q: Is TAX a burden or a blessing (beneficial) in the Philippines? Justify

A: Taxes are defined as mandatory charges which are levied on individuals or on a corporation by the…

Q: Using the concept of substitutes and complements, explain with the help of a diagram how legalising…

A: Cannabis (Commonly named marijuana) is considered to be a good which is a substitute to alcohol as…

Q: QUESTION 1. With the help of a numerical example, explain why California and Maine tax cannabis by…

A: 1) The reason behind California and Maine tax cannabis by weight rather than by price is the…

Q: Suppose the government wants to maximize tax revenue. Some policymakers suggest taxing cigarettes,…

A: Tax revenue is the product of the tax amount and the quantity of the good consumed. The tax creates…

Q: Are taxation policies more effective than education policies, in reducing cigarette smoking in…

A: Education policies are based on behavioral aspect of humans ie they sought to bring a behavioral…