What is an indirect tax give two examples in economics

Q: Give an example of a product that has inelastic demand and elastic supply in the market to price. If…

A: An inelastic demand is defined as one where a change in price does not significantly impact demand…

Q: Suppose the federal government decides to tax the sale of pizzas. Use the graph to the right to…

A: The given figure shows that the initial equilibrium point is where demand for pizza i.e. demand…

Q: SAP The demand curve for a product is p = 113 - q 2 and the supply curve is given by p = (q+1)…

A: Demand : p = 113 - q2 Supply : p = (q+1)2 Finding out equilibrium: Demand=Supply 113 - q2=(q+1)2 113…

Q: Let Q=2P be supply and Q=20-2P be demand. The equilibrium quantity with a tax of 2 is.........

A: Demand: - Demand is the relationship between the quantity demanded and the price of a good. There is…

Q: 25. Answer the following tax related questions. a. Consider a (per unit) tax on two different goods,…

A: In a market where the supply curve is inelastic, the DWL is smaller than the market where the supply…

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: Briefly explain what are direct tax

A: Taxes are categorised as direct and indirect tax based on who shares the final burde of the taxes…

Q: In an effort to reduce alcohol consumption in Jamaica, the government of Jamaica (GOJ) is…

A: GIVEN DATA     In an effort to reduce alcohol consumption in Jamaica, the government of Jamaica…

Q: Which of the following is the unit tax?A. $0.45B. $0.50C. $1.00D. $1.50E. $2.00

A: The supply curve i.e. Supply and demand curve indicates that the Equilibrium quantity is Q and…

Q: Suppose that in the market for toys, the price of a toy is $24, the quantity sold is 96, the demand…

A: When a tax is introduced, the amount that is paid by consumers and producers of that tax is called…

Q: 15 Price $ 10 5 10 Quantity (gallons)

A: In a market, government receives a tax revenue equals to the multiplication of tax rate and quantity…

Q: Suppose that the government imposes a tax on eigarettes Use the diagram below to answer the…

A: The diagram in the question above shows that the demand curve (D) without the tax and supply curve…

Q: (Figure: Taxes and Deadweight Loss) In the diagram, the deadweight loss is ______ and government tax…

A: The correct answer to the above-mentioned question is C+E; B+D.

Q: Draw a supply-and-demand diagram with a tax onthe sale of a good. Show the deadweight loss. Showthe…

A: The tax is unilateral payment from the people to the government. Tax is the main source of income of…

Q: What is indirect tax? Write its four definitions.

A: Tax is compulsory contribution on the wealth of a person or a body of person for the services of the…

Q: The table below shows an income tax schedule for the imaginary country of Republica. Kermit is a…

A: Note: We are not allowed to answer more than three subparts at one moment as per the Bartleby…

Q: The demand for rutabagas is Q= 2,000 – 300P and the supply of rutabagas is Q =-100 + 100P. (10') Who…

A: Given that the demand for rutabagas is Q=2,000−300P and The supply of rutabagas is Q =−100+100P $2…

Q: What is merits and demerits of direct tax?

A: A tax is described as one that the government imposes on citizens who participate in the economy in…

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: The City of Philadelphia is currently considering a 3 cent per ounce tax on sugary beverages. A…

A: a)Consumers are prefers lump-sum tax. The reason is, the burden of tax is partially borne by both…

Q: The graph shows the market for a vital-to-life drug on which the government has imposed a tax of $2…

A: Elasticity measures the responsiveness of quantity demanded with respect to change in price.

Q: (Figure: Tax on Seller) In the graph shown, the original equilibrium price is $50. A $6 tax is…

A: The equilibrium price before imposition of tax = 50 if tax of $ 6 is placed on the sellers then the…

Q: = Use the following table to answer the question about taxes, where P Price buyers pay, P, Price…

A: Tax revenue is included in the Receipt Budget, which is then included in the Union Budget's Annual…

Q: The diagram below shows the effect of a tax as measured by the "wedge" J-K Price 100- 90 80 70 60 50…

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

Q: Case II: Attached is a graph diagram depicting the market for soft drinks. If an excise tax equal to…

A: This is a hand drawn diagram. So, there can be little discrepancies. The new equilibrium quantity of…

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: The current equilibrium price and quantity in the chocolate market are $5 and 256,000 units,…

A: given equilibrium price = 5 $ tax = 0.50 $ after tax price = 5.25 $ price seller receives = 4.75 $

Q: Suppose the government imposes a $10 per unit tax on a good with a demand and a supply depicted in…

A: An excise tax is a per unit tax on commodity.

Q: To raise money for a new student union, the Student Snack 2.25 Bar charges a tax of $0.75 on each…

A: The equilibrium in the market is obtained at the intersection of the demand curve and the supply…

Q: The demand for gasoline is P= 4-0.002Q and the supply is P= 0.4 + 0.004Q, where Pis in dollars and…

A: Given values: Demand, P = 4 - 0.002QSupply, P = 0.4 + 0.004QTax = $0.8 / gallon

Q: A $6 per unit tax is introduced into a market summarized by the demand and supply diagram below. The…

A: The equilibrium is established at price 7 $. With 6 $ tax per unit, the selling price will increase…

Q: What are the characteristics of Taxation

A: Taxes are levied in almost every country in the world. It is levied to raise revenue for the…

Q: Which of the following is an example of an excise tax? O a) cigarette tax O b) social insurance tax…

A: Excise tax is the tax which consumers don't pay directly to the government. It is an indirect tax.

Q: What are the principles of Tax-incidence?

A: Taxes are described as mandatory fees collected from citizens by the government. These taxes are the…

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: The government decides to impose a unit-tax on producers instead of a unit-sales tax on consumers,…

A: Tax incidence is the contribution of the burden of the tax imposed by the government. It is based on…

Q: For Questions 36-46, please refer to the following graph. The vertical distance between points A and…

A: Equilibrium is the state of balance where the demand curve intersects the supply curve.

Q: On the following graph, use the black curve (plus symbols) to illustrate the deadweight loss in…

A: Deadweight Loss: A deadweight loss is a cost to society created by market inefficiency, which occurs…

Q: if the demand curve is very inelastic and the supply curve is very elastic in the market then…

A: Elasticity is a monetary idea used to gauge the adjustment of the total amount requested of a…

Q: iven the following information QD = 240-5P QS= P Where QD is the quantity demanded, Qs is the…

A:

Q: Figure 18-2 shows the widget market before and after an excise tax is imposed. What percentage of…

A: The price paid by the consumer before tax imposition is $100 (where the demand curve is equal to…

Q: image attached

A: Consumer surplus refers to the difference between the total amount a consumer willing to pay and the…

Q: 24. The graph above depicts the effect of a $5 per unit (excise) tax on the market for sweaters.…

A: Since you have asked multiple questions, we will solve first question for you. If you want any…

Q: Market for

A: Tax of 6/unit will raise the supply curve by 6.

Q: What is the amount of the tax? $ 120- Stax S What is consumer surplus before the tax? $ 110- 100-…

A: According to the given graph, it can be seen that the market equilibrium in this market is at the…

Q: How do the elasticities of supply and demand affectthe deadweight loss of a tax? Why do they have…

A: Tax is a kind of fees that is leived by the government inorder to collect revenue for the people.…

Q: Suppose there is only one movie theatre in a town and the equilibrium price and quantity for movie…

A: