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A: Answer to the question is as follows:
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A: Answer - Thank you for submitting the questions.But, we are authorized to solve one question at a…
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Q: Suppose the federal government requires beer drinkers to pay a $2 tax on each case of beer…
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what will happen to the equilibrium of mobile phones of government announces higher sales taxes on mobile phones?
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- The figure below represents the market for Gasoline, where initially the equilibrium price was $5.60. The picture shows the effect of a $1.50 tax on gasoline. Using the information from the figure, what is the government's tax revenue?What is the consumer surplus is you buy a 65 inch 4K tv you have wanted for $50.Question 1 EXPLAIN WHY THE PRICE ELASTICITY OF SUPPLY IS LARGER: FOR FIRMS THAT CAN STORE INVENTORIES Full explain this question and text typing work only thanks
- Demand Equation is Qxd = 500 - 1/2Px - 2Py + 0.0005M + 0.001A. Py = $8 M = $50,000 A = 10,000 What is the demand?11.) In the market for cars, the price elasticity of supply is +1.5, and the price elasticity ofdemand is -0.8. The equilibrium price is $ 30 thousand, and quantity is 120 million.(a) Assuming supply and demand are linear, reconstruct and draw the supply and demandcurves. Label the intercepts.(b) To reduce traffic, the government imposes a $400 tax on cars. What are PB and PS after thetax? What is the new equilibrium quantity? Illustrate them on the same graph.(c) How big is the change in consumer surplus, producer surplus, government revenue, anddeadweight loss?what are Factors affecting the demand of gasoline
- 10) A decrease in the price of a substitute good would be represented by a movement fromScreen doors is an inferior good. An increase in the demand for screen doors could be caused by ............. a) a decrase in the price of screen doors b) a decrase in the in income of consumersQXd = 14 - 0.5PX and QXs = 0.25PX - 1 a. Determine the equilibrium price and quantity. Show the equilibrium graphically. b. Suppose a $12 excise tax is imposed on the good. Determine the new equilibrium price and quantity (see video on inverse functions).
