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- In State Z, the sales tax rates vary based on the type of goods sold. For clothing items, the tax rate is 5%, and for electronics, the tax rate is 8%. If Sarah purchases a jacket for $50 and a smartphone for $600, how much sales tax does she pay in total? A) $29 B) $44 C) $46 D) $50It is a scheme to collect taxes on businesses and industries based on the amount of fossil fuels they use ( like oil, coal and natural gas) O greenhouse tax industrial tax carbon tax environmental taxBecause of the sales tax in a particular region, a customer in a supermarket must pay $1.46 for a package of candy marked $1.35. What is the effective tax rate on this purchase, expressed as a percentage?
- Calculate the value of net indirect tax GNP at MP = $7000 Domestic income = $6200 Depreciation = $600 Net factor income from abroad = -400 All values are in millionQs = 0.5P Qd = 45 - 0.25p Suppose a per-unit tax is imposed that reduces the quantity of this whiskey bought and sold in the market to 25 bottles. What is the size of the tax?Find the sales tax and total sale. Item marked price Sales tax rate Sales tax Total sales $582.41 5.017% Item marked price Sales tax rate Sales tax Total sale $582.41 5.017% $ $ (Round to the nearest cent.)
- •The demand function for a product is represented by the equation Qd = 20 - 2P and its supply function with equations Qs = P - 4. The product is subject to a tax of 20%. a. Calculate the Pe and Qe of the after-tax balance b. Calculate the per unit tax received by the government c. Calculate the per unit tax borne by consumers and producers d. Calculate the total tax received by the governmentPrice Amount Requested (Unit) Amount Offered (Unit) (IDR) 2400 120 180 2000 160 150 Based on the demand function and supply function that you got in question number 1 above, determine the new market equilibrium point if the government imposes a perunit sales tax (fixed tax) on the goods "X" of Rp. 100 / unit. How much is the tax burden borne by consumers and the tax burden borne by producers, and how much is the government tax revenueConsider the following supply and demand function, QD = 65 − 2P and QS = 1.5P − 5, and assume a $17.50 excise tax is collected from consumers. (a) Calculate price and quantity in this market before (P1 and Q1) and after the tax (P2 and Q2). (b) What is the amount of tax revenue that is collected from con- sumers, producers and in total? (c) What is the relative tax burden of consumers and producers? (d) Show how the elasticity of supply and demand determine the shar- ing of the tax burden. (e) What is the relative tax burden of producers and consumers if the tax is collected from producers, instead?