Suppose the demand function for cigarettes is given by Qd=80-20p and the supply is by Qs=10p-10. Suppose the government introduce a specific tax of t=1 to be levied from the produces. 1. Obtain the new supply Curve 2. Determine the new equilibrium quantity and price  3.compute the government revenue 4. Compute the incidence (burden) on the consumer 5. Compute the incidence (burden)on producers  6. Compute the dead weigh loss  7. Draw a diagram with all your analysis

Q: what are the units of a good? what are the units of b good? what are the units of c good? the…

A: Utility means satisfaction.  The utility is maximized where the marginal utility per dollar of one…

Q: A company produces very unusual CD's for which the variable cost is $ 9 per CD and the fixed costs…

A: Total cost is a sum fixed cost and variable cost. Total revenue is the product of price and output

Q: Which of the following sentences most closely fits the term "submarket"? A distinct part of a larger…

A: A market is a place where purchasers and sellers can meet to facilitate the exchange or transaction…

Q: Which one is the best strategy for Player 1? (10, 20) Leave Leave Cooperate Stay Cooperate Player2…

A: Dominant strategy is the strategy which yields the highest payoff and the strategy does not change…

Q: 1. Fill in the missing values in the table which represents the costs of a firm: Quantity TC FC VC…

A: Note : As you have posted multiple questions. But as per the policy we are allowed to answer the…

Q: 3. Suppose that air pollution is a problem. a. Describe a "cap and trade" policy as a possible…

A: Pollution means the material that positions the environment. This harmful material is known as a…

Q: QUESTION 12 Under realistic conditions, optimal social insurance systems should: O a. not insure…

A: A government-run programme known as social insurance protects people and families from economic…

Q: 2. Given the balance sheet below and assuming a required reserve ratio of 20 percent, ho w much (in…

A: A balance sheet is a financial statement that provides a snapshot of a company's financial position…

Q: The following pair of assets differ only in the MARR. The problem asks you to determine the effect…

A: Depreciation rate=20%

Q: 44. In a perfectly competitive market for a good with a downward sloping demand curve and an upward…

A: The measure that depicts benefits or costs that are not being not received or incurred financially…

Q: Question M The Option for the answers are: - equal to - less than - equilibrium - a shortage -…

A: Any economy is supported by a stream of supply and demand. Economic theories come in a wide variety…

Q: For the cash flows shown in the diagram, find the future worth at end of year 10 at interest rate of…

A: Future worth (FW) is the value of a current asset at a future date relying on an assumed rate of…

Q: 3. There are two chicken fried steak restaurants operating in a small west Texas town: Cow Tipper…

A: The dominant strategy is the best course of action no matter what type of strategy is followed by…

Q: Suppose $100 is invested today in a project that returns $330 in 6 years. Calculate the IRR of this…

A: Present value is the value of investment in today's dollar.  Future value is the value of investment…

Q: Briefly explain how you may avoid buying a "lemon" car (a car with poor quality) if you are looking…

A: In economics, a "lemon" refers to a product or asset that is of low quality or defective, and is…

Q: In the long-run money market, the money demand curve slopes Question 2 options: upward,…

A: The money market is a financial market where short-term financial products like Treasury bills,…

Q: The mobile phone landscape looks drastically different today than it did three decades ago. In 1983,…

A: DISCLAIMER B“Since you have asked multiple questions, we will solve the first three questions for…

Q: You are the company owner (UAE-based) and want to expand your business into the South Korean market.…

A: It is the chance or possibility that the investment in the business leads to some false results. It…

Q: QUESTION 3 A recession is often the result of what type(s) of economic disruption? Check all that…

A: A recession is a significant decline in economic activity that lasts for an extended period,…

Q: too large and bureaucracy and inefficiencies a

A: When a firm gets too large and bureaucracy and inefficiencies arise, we describe it as: Diseconomies…

Q: First Call Inc. is a cellular phone company. It plans to build an assembly plant that costs $10…

A: The market for loanable funds is the interaction between borrowers and lenders. The demand for…

Q: At what rate of interest will an investment double itself in 10 years?

A: Present value is the value of investment in today's dollar.  Future value is the value of investment…

Q: The following graph plots daily cost curves for a firm operating in the competitive market for…

A: In a perfect competition ,  The firm will produce where Price is equal to marginal cost.  So, P =…

Q: How would you describe the processes characterized as the "starve-then-sell strategy" being used to…

A: The "starve-then-sell" strategy is a political and economic approach that is characterized by…

Q: Which do you think would be more harmful to the economy—an inflation rate that averages 5 percent a…

A: “Since you have posted multiple questions, we will provide the solution only to the first question…

Q: Bryan has applied for a mortgage with Bank of Ame. The bank is reviewing the amount of Bryan's…

A: The credit rating of a borrower is the key factor on basis of which financial institution determines…

Q: A researcher investigating whether government expenditure crowds out investment estimates a…

A: The regression results obtained are;- I⏞=18.10-1.07G+36Y         (7.79)   (0.14)   (0.02)…

Q: Lucy, the manager of the medical test firm Dubrow Labs, worries about the firm being sued for…

A: Risk managers utilise probability analysis as a tool to predict upcoming events, such as accidental…

Q: A piece of equipment that was purchased 2 years ago by Toshiba Imaging for $50,000 was expected to…

A: In a replacement study, the existing hardware or asset that has to be replaced is implied as the…

Q: I am a Solar panel company, that manufactures and distributes solar panels in the US market.  Two…

A: Demand curve is the downward sloping curve.  This is the demand made by buyers to buy the goods.…

Q: Q7. What is the Keynesian prescription for inflation? ( Pick 1 letter) A. Keynesians prescribe…

A: Keynesian economics is an economic theory that emphasizes the role of government intervention in the…

Q: 25. Shortages and black markets largely came to an end in the Soviet Union because ____________: a.…

A: In a free market, forces of demand and supply helps the market to remain in equilibrium. When the…

Q: In the fifty years before the covid-19 pandemic, the U.S. also suffered two deep recessions, in…

A: The above question refers to 2 major recessions that the united states experienced in the past 50…

Q: If money is neutral and the "Fisher" effect (named after Irving Fisher), an increase in the growth…

A: The Fisher effect is an economic theory proposed by economist Irving Fisher that suggests that an…

Q: The data of for 1960 shows that the real GDP per capita was $6.354 for Japan, $12,282 for Germany,…

A: If the growth rate is represented by g and the initial value of the certain variable is X0 , then…

Q: QUESTION 9 Which shift does show a smaller quantity demanded Q at the same price P? O Price Price Pº…

A: Demand curve is the downward sloping curve.  Equilibrium is where the demand curve intersects the…

Q: Charter schools in Florida use a lottery to determine which students get in. This means…

A: When the charter school receives more students against the available spots, the law requires holding…

Q: QUESTION 19 Which of these is NOT a component of the 2016 Social Security reform proposal by…

A: Social Security reform refers to changes made to the Social Security system, which provides…

Q: Your company placed the available cash amount of 100 thousand dollars in a bank at 6% per annum.…

A: Inflation rate refers to the percentage increase in the average price level of goods and services in…

Q: In a country with a labor force of 200, a different group of 10 people becomes unemployed each month…

A: Unemployment refers to the state of being without a job but actively seeking employment. It is a…

Q: Consider a public good, G, that is shared by Consumer A and B. Each can purchase G at the price of…

A: The term "public good" refers to a good that is provided to customers for a low cost. Public goods…

Q: $100 for your birthday and you deposit that $100 into your checking account at the local bank. The…

A: The deposited amount was sent as a gift of $100. The reserve ratio is 10%. r=0.1

Q: 1. A trout ranch is now for sale for $40,000. Annual property taxes, maintenance, supplies, and so…

A: PW method or present worth method is the value of cash inflows during the life of project discounted…

Q: Figure 6-33 The diagram shows the effect of a tax as measured by the distance between) and K. Nice…

A: Incidence of tax is the share of burden of tax that falls on buyers and sellers.

Q: recent government study reported that a college degree is worth an extra Php 33753 per quarter…

A: Future worth is the value of the investment at the end of the fixed time. Present worth is the value…

Q: Copy and paste the questions onto a word doc. Use a scanning app to upload your answers. Graph the…

A: Note: "As per the guideline, in the case of multiple questions. We have to attempt the first one"…

Q: 1. Use the model of the small open economy to predict what would happen to the trade balance, the…

A: Disclaimer- “Since you have asked multiple question, we will solve the first three question for you…

Q: es If the proportion of the total disposable income spent on consumer goods and services is 93.0…

A: MPC is the marginal propensity to consume.  It is calculated as the change in consumption divided by…

Q: For the demand equation, express the total revenue R as a function of the price p per item.…

A: We have given the following demand equation. q = -5p + 1000 where q is the quantity demanded.  p is…

Q: For each scenario in the following table, determine which market model best describes the scenario.…

A: There various market structures with different characteristics. This includes monopoly, oligopoly,…