EBK MICROECONOMICS
12th Edition
ISBN: 9780100659452
Author: PARKIN
Publisher: YUZU
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Textbook Question
Chapter 6, Problem 5SPA
Taxes (Study Plan 6.3)
5. The table in the next column sets out the
| Quantity demanded | Quantity supplied | |
| (millions per day) | ||
| 50 | 5 | 3 |
| 60 | 4 | 4 |
| 70 | 3 | 5 |
| 80 | 2 | 6 |
a. If sellers are taxed 20¢ a brownie, what is the price and who pays the tax?
b. If buyers are taxed 20¢ a brownie, what is the price and who pays the tax?
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The demand and supply schedule for coffee are:
a. If there is no tax on coffee, what is the price and how much coffee is consumed?
b. What is the consumer surplus? Show your calculations.
c. What is the price elasticity of demand when the price goes up from $4 to $5 dollars? Is the demand for coffee elastic or inelastic? Explain.
Price (dollars per bushel)
Quantity Demanded (bushels)
10
0.
B.
8.
4.
6.
8.
4.
12
2.
16
(1)
The table above gives the demand schedule for peas. As you move
from point A to point B, what is the price elasticity of demand?
(I)
The table above gives the demand schedule for peas. As you moOve
from point C to point D, what is the price elasticity of demand?
()
The table above gives the demand schedule for peas. As you move
from point C to point D, what is the changes of the total revenue?
Price (dollars per pie)
6.
54
4.
4
5
6.
Quantity (thousands of pies per week)
The demand for apple pies is perfectly elastic. If
the government taxes apple pies at $1 a pie,
then
A) the buyer pays the entire tax.
B) the seller pays the entire tax.
C)
the seller and the buyer split the tax
but the seller pays more.
who pays the tax depends on whether
D)
the government imposes the tax on pie
buyers or on pie sellers.
2.
Chapter 6 Solutions
EBK MICROECONOMICS
Ch. 6.1 - Prob. 1RQCh. 6.1 - Prob. 2RQCh. 6.1 - Prob. 3RQCh. 6.1 - Prob. 4RQCh. 6.2 - Prob. 1RQCh. 6.2 - Prob. 2RQCh. 6.2 - Prob. 3RQCh. 6.2 - Prob. 4RQCh. 6.2 - Prob. 5RQCh. 6.3 - How does the elasticity of demand influence the...
Ch. 6.3 - Prob. 2RQCh. 6.3 - Prob. 3RQCh. 6.3 - Prob. 4RQCh. 6.3 - Prob. 5RQCh. 6.4 - Prob. 1RQCh. 6.4 - Prob. 2RQCh. 6.4 - Prob. 3RQCh. 6.4 - Prob. 4RQCh. 6.4 - Prob. 5RQCh. 6.5 - Prob. 1RQCh. 6.5 - Prob. 2RQCh. 6.5 - Prob. 3RQCh. 6.5 - Prob. 4RQCh. 6 - Prob. 1SPACh. 6 - Prob. 2SPACh. 6 - Prob. 3SPACh. 6 - Prob. 4SPACh. 6 - Taxes (Study Plan 6.3) 5.The table in the next...Ch. 6 - Prob. 6SPACh. 6 - Prob. 7SPACh. 6 - Prob. 8SPACh. 6 - Prob. 9APACh. 6 - Prob. 10APACh. 6 - Prob. 11APACh. 6 - Prob. 12APACh. 6 - Prob. 13APACh. 6 - Prob. 14APACh. 6 - Prob. 15APACh. 6 - Prob. 16APACh. 6 - Prob. 17APACh. 6 - Prob. 18APACh. 6 - Prob. 19APACh. 6 - Prob. 20APACh. 6 - Prob. 21APACh. 6 - Prob. 22APACh. 6 - Prob. 23APA
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