If tax incidence is not affected by whether the government makes buyers or sellers pay the tax then which factors determine the tax incidence?
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- Can you explain what happens when a tax is imposed on the buyer of a product and also what would happen if a tax is imposed on the seller? e. What happens when government imposes a tax of 60 cents per gallon on buyers?How does a tax on a good affect the price paid by buyers, price receive by sellers, and the quantity sold?
- Suppose the California legislature passed a sweeping law to lower the number of regulations for building homes such as decreasing the parking requirements and setback requirements. Suppose there is a housing tax. What is the effect of this law on the PES for housing? What effect would this law have on the tax burden for buyers?Suppose the California legislature passed a sweeping law to lower the number of regulations for building homes such as increasing the parking requirements and setback requirements. Suppose there is a housing tax. a. What is the effect of this law on the PES for housing? b. What effect would this law have on the tax burden for buyers?Why does the government ass excise taxes to certain products?
- If the government imposes a tax of 8% on luxury cars that the consumer must pay, why does the consumer not actually pay the full 8%? How is it determined how much the consumer will pay and how much the producer will pay? Is it possible for an 8% tax the government imposes on the consumer to actually have 1% paid by the consumer and 7% by the producer? Why or why not?What is an example of a market that govenrments should not tax for economic reasons?With the help of appropriate diagrams, explain how a tax can be used to reduce the consumption of a harmful product such as cigarettes.
- If the government wants to raise tax revenue, which of the following items are good candidates for an excise tax? Choose one or more: A. toilet paper B. automobile tires C. cigarettes D. sweet potatoesWhat is pigovian tax. Explain in detail.The figure below shows a market of good C. Suppose that the government levied a tax on C. Answer the price buyers pay and the consumers’ tax incidence if the size of the tax is 10.Price buyers pay:Consumers’ tax incidence: