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The description of the event of fresh milk in a company:
- Determine the government intervention (if any) to products and services: tax,
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- GRAPH ($) Price 90 $90.00 80 70 60 50 $50.00 40 30 20 10 Surplus Measures off SETTINGS S Tax imposed on: Supply Demand Excise Tax (0-$20) Demand Perfectly Inelastic Supply 0.00 Reset Relatively Elastic Relatively Elastic Elastic Perfectly Elastic Perfectly stic D CALCULATIONS 0 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 19.0 Quantity (thousands per week) Price Paid Quantity No Tax $50.00 4,000 With Tax $50.00 4,000Describe one way the government might impact the Dairy products industry with price controls, regulations, taxes or any other way?Assume that the actual price of the tv is 2096 lower than what you are willing to pay. Consumer surplus is the difference between what you are willing to pay and the actual price of the product. What is the consumer surplus in this situation? Sceptre 65" Class 4K UHD LED TV HDR U650CV-U Average Rating (4.1)out of 5stars1529 ratings, based on1529reviews Please see the provided rubric. O Focus hp inbrt sc & 8 {
- Which of the following is true when there is a tax imposed in a market with perfectlyinelastic supply? Assume that the amount of the tax is less than the price before the tax isimplemented.(a) Buyers pay all of the tax(b) Buyers pay some but not all of the tax(c) Price paid by consumers falls by the amount of the tax(d) Price paid by consumers does not change(e) None of the abovePrice Quantity demanded Quantity supplied $300 60 30 $400 55 40 $500 50 50 $600 45 60 $700 40 70 $800 35 80 Use the information provided in Table to plot the price ceiling of $400 onskateboards.QUESTION 1 Given a demand curve of P = 119-9Qd and supply of P = 22 +2Qs, please calculate consumer surplus, assuming this is the output market Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.Answer completely.You will get up vote for sure.
- government increase VAT on some commodities in order to raise revenue the market for X was at equilibrium before tax at price 50 per unit sold and quantity was 5000 units suppose own price elasticity of demand is 0.6 and the elasticity of supply is 1.1after the government announced tax measures the new market price increased to ksh 70 per unit calculate the seller and buyers burden(a). Identify and distinguish the functions of price. (b). what is price legislation? (c). Explain the condition under which price legislation is employed in an economy. using diagrams, show the relevance of price elasticity of demand in business pricing strategiesThe market supply and demand for a product are shown in the diagram below. PRICE $6 Supply Demand 80 200 QUANTITY (a) Is the price elasticity of supply less than one, equal to one, or greater than one? Explain. (b) Calculate consumer surplus at the equilibrium price. Show your work. (C) Now suppose the government imposes a per-unit tax of $1 on producers. (i) What happens to total revenue received by producers after they pay the tax to the government? Explain. (ii) Will producer surplus increase, decrease, or stay the same? (iii) Will total surplus increase, decrease, or stay the same? Explain.
- 1) Consider a market where the demand and supply for a particular good is as shown below: P (TL/unit) 210900 7610 32- 12 11 8 5 1 2 3 4 5 6 7 8 9 101112 Q (units/day) a. Find the (own-price) elasticity of supply at the price of 5 TL/unit. b. If the government imposed a price ceiling of 3 TL/unit, what would the equilib- rium price and the equilibrium quantity be? What would the consumers' surplus, producers' surplus, and dead-weight loss be under this policy? c. If the government imposed a tax at the rate of 3 TL/unit on the consumer what would the equilibrium price that the consumers face be? What would the equilib- rium price that the producers face be? What is the quantity traded at equilibrium? What is the consumers' surplus, producers' surplus and the dead-weight loss under this policy? d. Is there a government policy that, under this policy the quantity traded, at equilib- rium, would be 7 units/day? If there is such a policy, be specific about the policy stating all the…Price per kilo (Dollars) Quantity demanded (kilos) Quantity supplied (kilos) $2 40,000 0 4 34,000 4,000 6 28,000 8,000 8 24,000 16,000 10 20,000 20,000 12 18,000 28,000 14 12,000 36,000 16 6,000 40,000 Refer to Table , which contains information about the corn market. An agricultural price floor is a price that the government guarantees farmers will receive for a particular crop. Suppose the federal government sets a price floor for corn at $12 per kilo. 1. Suppose the government buys up all of the farmers' output at the floor price and then sells the output to consumers at whatever price it can get. Under this scheme, what is the price at which the government will be able to sell off all of the output it had purchased from farmers? What is the revenue received from the government's sale? 2.In this problem we have considered two government schemes: (1) a price floor is established and the government purchases any…Maximum price (price ceiling): Revenue and spending with respect to Producers, Consumers and the Government Producer and Consumer surplus Consequences for consumers, producers and the government (EVALUATE)
