Given a demand curve of P = 173 - 2Q and a supply curve of P = 5 + 1.5Q, with a tax of 119, solve for the percentage loss of surplus for both consumers (Answer 1) and producers (Answer 2). Do not include a % sign in your answer. Blank # 1 Blank # 2 A
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- Given the supply - demand function of printers in Vietnam as follows:Sx = -20000 + 250PDx = 160000-350PKnowing that Vietnam is considered a small country, the price of a printer on the world market is $120/piece.a. If the Government of Vietnam levies an import tax of 25% on this item, calculate the loss to domestic consumers. How much is the import tax revenue from the Vietnamese government's printer products in this case?b. Due to the commitment to integration, the Government of Vietnam applies an import tax rate of 12.5% for printers, calculate the change in the import tax revenue of the Government of Vietnam.c. To ensure that there are no more imports, what is the minimum tax rate that the Vietnamese government should set?Question 10 50 45 40 35 30 25 20 15 - 10 5 0 0 10 20 30 40 50 60 70 80 90 100 Quantity Consider the figure shown. What is the consumer surplus when the P-$15? Selected Answer: Correct Answer: Answer range +/-0.1 (1224.9-1225.1) 490 1,225 Question 11. Q SearchThe inverse demand for table salt is p = 200qd+1 , while the inverse supply of table salt is p = 10+ 2qs. a. Find the equilibrium price of table salt before AND after the imposition of a 40% ad valorem tax on the consumers of table salt. b. Describe the distribution of the burden (incidence) of this ad valorem tax between consumers and producers. c. Find and interpret the price elasticity of supply (es) at the after-tax equilibrium price and quantity.
- A market for a certain type of golf clubs has the following supply and demand: QD where p denotes the unit price. 25p —D 4,500 - 20р, (a) Find the number of golf clubs produced and the equilibrium price. What is the consumer and producer surplus? (b) Suppose that a unit tax of nine dollars is levied on the producers of golf clubs. Find the number of golf clubs sold. What is the consumer and producer surplus in this case? ce wa се (c) How is the tax burden shared? cro.comIn a competitive market in which P = 100 − 2Q is the inverse demand for fuel and P = 10 + Q is the inverse supply of fuel. Calculations are preferred, but you may use a graph for partial Without a tax, what is the market-clearing price and output, P and Q? What is the consumer surplus and producer surplus (with no tax) If a tax on fuel is set at $15, how much fuel will be purchased? You can assume that the buyers pay the tax (but it doesn’t matter). What is the deadweight loss of the tax? Thanks!4) The demand and supply functions of shirts are respectively given by; Q = 200-5P and Q =-120+10P %3D a) Find the equilibrium price and quantity b) If a tax of GHC8.00 per unit is imposed calculate the equilibrium price and quantity c) What is the distribution of tax to the consumer and the producer? d) Analyse the introduction of price minimum of GHC20 on the good in the market e) Calculate the values of consumer and producer surplus at the market equilibrium f) If the total cost of the firm is TC = 0.8Q²+30Q-5, find the quantity to be produced at the break-even point
- Consider an ad-valorem tax on a good X. The Demand for good X is constant elasticity with elasticity -2. The Supply for good Y is constant elasticity with elasticity 3. Consider the same setting as for the previous question. When a tax of 1% of the price is imposed on good X, then equilibrium quantity of X exchanged declines by what percentage?1) The demand function for a product is shown by the equation P = 15 – Q and the Supply function P = 3 + 0.5Q. the product is subject to a tax of IDR.3/unit a. Determine the amount and price of the balance before and after tax. b. determine the amount and the balance price if the government provides a subsidy of IDR.2/unit c. how much tax is borne by producers and consumers d. how much of a subsidy is enjoyed by consumers e. How much does the government get for taxes and the amount of subsidies issued by the government?9. The demand and supply functions for product x are given, respectively, by the equations: P=83.6- 0.037 Q P = 15.7 + 0.056 A P10 tax per units is levied to the manufacturer. How much is the tax burden on the part of the seller after the imposition of tax? A. P10 B. P3.97 C. P6.03 D. P5.0 10. The demand and supply functions for product x are given, respectively, by the equations: P=83.6-0.037 Q P=15.7+0.056 (A P10 tax per units is levied to the manufacturer. How much is the tax burden on the part of the buyer after the imposition of tax? A. P10 B. P3.97 C. P6.03 D. P5.0 11. The demand and supply functions for product x are given, respectively, by the equations: P = 83.6- 0.037 Q P = 15.7 +0.056 Q. A P10 tax per units is levied to the manufacturer. How much is the government revenue? A. P6225.8 B. P7311.1 C. P5960.7 D. P6252.8 Modified TRUE or FALSE: On the space provided before the number, place TRUE for correct statement and for incorrect statement, WRITE the word that makes the…
- Where did the numbers come from for this part? And the membership fee will be equal to the consumer surplus, that will be: 5$200-$349.25=$4,851Figure 8-10 PO Pl P2 P3 P4 PS P6 D7 PO Price P9 0 Q1 Q2 Q3 Q4Q5 a) 1/2 x (P2-P8) x (05-02) Supply D Refer to Figure 8-10. Suppose the government imposes a tax that reduces the quantity sold in the market after the tax to Q2 Without the tax, the total surplus is c) (P2-P8) x Q2 Quantity b) [1/2x (PO-P2) x Q2]+[(P2 PS) x Q2] + [1/2 x (P8-0) x Q2] d) [1/2 x (PO-PS) x Q5] + [1/2 x (P5-0) * Q5].Question 5 - Test 3 - Connect p.mheducation.com/ext/map/index.html?_con=con&external browser%30&launchUrl=https%253A%252F%252Fange Saved Refer to the figure below. 10 8- -- 9:22 4. 8. 12 16 20 Quantity If this market is unregulated, total economic surplus is: Multiple Choice $48. 5 of 30 Next > < Prev acer Price ($)
