A3) Consider a perfectly competitive market. The industry demand curve is QD = 7-2P. The ndustry supply curve is Qs = P. Suppose the government introduces a tax t=1 on consumers. What is the equilibrium quantity in this market? a) Q*=3/2 b) Q=3 c) Q=7/3 d) Q*=7/2 e) None of the above
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- 1. The market demand function of a perfectly competitive market is Q=500-p, and the cost function of an individual company is C(q)=q^3-20q^2+110q. Suppose that the government imposes a tax of 10 per unit of transaction on companies. In the long-term equilibrium, find K-L when you indicate the number of companies as L and the market price as K. Find W1 - W2, W1 is when no tax is imposed, and W2 is when the government imposes a tax of 10 per unit of transaction on an enterprise.Consider a perfectly competitive market with market supply Q³ = -2+P and market demand Qd = 30-P. Suppose the government imposes an excise tax of $4 per unit on this market. What is total surplus (consumer surplus plus producer surplus) after the government imposes the tax? A) 72 B) 98 C) 144 D) 196The demand curve in the market of grapefruit is Qd = 120 - 2Pd and the marginal cost of production is constant at $38. If a tax of $17 is imposed, the price received by the producers is $[Answer] less for each unit sold. (In decimal numbers, with two decimal places, please.) Note: don't use any ai bot tool.
- Consider a perfectly competitive market where the demand for the good is given by Q=777-18p, where Q denotes the quantity demanded at price p. On the supply side, the industry supply function is given by Q=-8+6p. The government imposes a per-unit tax on consumers equal to t=6 Derive the market equilibrium in the presence of this tax. Determine the share of the tax paid by producers and enter it below.Consider the perfectly competitive market for gasoline. The aggregate demand forgasoline is D (p) = 100 - p. Given the choke price is 100, if the equilibrium price is P25 and the equilibrium quantity is 75 units, what is the consumer surplus?(Explain with graphics) A good can be produced in a competitive industry at a cost of $10 per unit. There are 100 consumers are each willing to pay $12 each to consume a single unit of the good (additional units have no value to them.) What is the equilibrium price and quantity sold? The government imposes a tax of $1 on the good. What is the deadweight loss of this tax? (Explain with graphics)
- Suppose the following demand and supply function: Qd = 750 – 25P Qs = -300 + 20 P Find consumer and producer surplusThe market for N-95 masks is perfectly competitive. Market Demand is given by Q=464-2P and Market Supply is given by Q=5P. The government imposes a per-unit tax of $2. How much tax revenue does the government collect? Enter a number only, drop the $ sign. Note: you don't need to know who pays the tax to answer this question.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.com
- Q)The inverse demand function for good x is defined by the equation p = 214 - 5q, where q is the number of units sold. The inverse supply function is defined by p = 7 + 4q. A tax of $36 is imposed on suppliers for each unit of x that they sell. When the tax is imposed, the deadweight loss of the market isIn the free-market equilibrium of a perfectly competitive market, the price of the good is 90 dollars and the elasticity of demand and the elasticity of supply values are respectively Ed* = -6.6 and Es* = 4.1 Suppose the government imposes a per-unit tax equal to 10.4 payable by consumers. Calculate the estimate of the price firms charge consumers in the tax equilibrium using the elasticity values provided above. Then enter that price value below.Suppose the following demand P=30-Q/25 and supply function: P=Q/20+15 Find consumer and producer surplus