The demand and supply functions for product x are given, respectively, by the equations: P = 83.6 - 0.037 Q P = 15.7 + 0.056 Q. A P10 tax per units is levied to the manufacturer. What is the price paid by the buyer before the imposition of tax?
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The demand and supply functions for product x are given, respectively, by the equations:
P = 83.6 - 0.037 Q P = 15.7 + 0.056 Q. A P10 tax per units is levied to the manufacturer. What is the price paid by the buyer before the imposition of tax?
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- The demand (D) and supply (S) function for a commodity are P =100 – 2Q and P = 10 + Q, respectively. (a) Find the equilibrium price and quantity. That is, find the price and quantity where the D and S functions intersect. (b) A new 10% tax is imposed on this commodity. Find the burden of the tax on demanders and the burden on suppliers. Also find the total taxes.The demand (D) and supply (S) function for a commodity are P=100 - 20 and P = 10 + Q, respectively. (a) Find the equilibrium price and quantity. That is, find the price and quantity where the D and S functions intersect. (b) A new 10% tax is imposed on this commodity. Find the burden of the tax on demanders and the burden on suppliers. Also find the total taxes. [In order to insure that we all do this problem in the same way, let's assume that the tax is imposed on the supply side of the market. In addition, the burden of the tax on demanders is the difference in price demanders pay when the tax is in existence less the price they paid when there was no tax. The burden on suppliers is the difference in price suppliers received when there was no tax and the net price (after remitting tax to the government) they receive when the tax is in existence.]The demand (D) and supply (S) function for a commodity are P =100 – 2Q and P = 10 + Q, respectively. (a) Find the equilibrium price and quantity. That is, find the price and quantity where the D and S functions intersect. (b) A new 10% tax is imposed on this commodity. Find the burden of the tax on demanders and the burden on suppliers. Also find the total taxes. [In order to insure that we all do this problem in the same way, let’s assume that the tax is imposed on the supply side of the market. In addition, the burden of the tax on demanders is the difference in price demanders pay when the tax is in existence less the price they paid when there was no tax. The burden on suppliers is the difference in price suppliers received when there was no tax and the net price (after remitting tax to the government) they receive when the tax is in existence.]
- The demand and supply functions for product M are P = 83.6 - 0.037 Q P = 15.7 + 0.056 Q. A P10 tax per units is levied to the producer. Question: What is the P received by the seller after the imposition of tax? and how much will be the tax burden on the part of the producer after the imposition of tax? How much will be the tax burden in the part of buyer on the other hand?The demand and supply equations for a product are: Qd= 300 — 6P and Qs= -40 + 6P. Determine the market equilibrium and draw graphs. Suppose that the government decides to impose a flat tax of 10% on each unit sold. Show that the price that consumers pay would be the same if the government imposed a tax of Rs. 1.70 per unit sold. Draw graphs and explain. Also calculate the total revenue earned by sellers before and after the tax, the tax revenue raised by the government, changes in consumer and producers surplus, and deadweight lossThe demand and supply equations for a product are: Qd = 300 - 6P and Qs = -40 + 6P. Determine the market equilibrium and draw graphs. Suppose that the government decides to impose a flat tax of 10% on each unit sold. Show that the price that consumer pay would be the same if the government imposed a tax of Rs. 1.70 per unit sold. Draw graphs and explain. Also calculate the total revenue earned by sellers before and after the tax, the tax revenue raised by the government, changes in consumer and producers surplus and dead weight loss.
- If a $6 per unit excise (sales) tax is imposed, who will suffer the greater burden of this tax, the suppliers or demanders? a) Demanders b) Suppliers c) Both share the burden equally d) Can't tell from the available informationSuppose the supply and demand equations for a manufacturer's product are p 3 -g + 6 100 1 and p ng + 14, respectively, where q represents number of units and p represents price per unit in dollars. If a tax of $1.00 per unit is imposed on the manufacturer, determine the equilibrium quantity and the equilibrium price.The demand function for beef is Qd = 100 – 3P and supply function for beef is Qs = 10 +2P. Price elasticity of demand is – 0.1 and price elasticity of supply is 0.02. ii. Calculate new price of beef in the market when government introduces a specific tax of N$0.25 per kg.
- In this problem, p is the price per unit in dollars and q is the number of units.If the demand and supply functions of a product are p = 6500 − 5q − 0.7q2 and p = 500 + 10q + 0.3q2, respectively, find the tax per unit t that will maximize the tax revenue T. t = $ /itemThe demand and supply equations for a product are: Q* = 0.2 300 – 6P and Q' = -40 + 6P. Determine the market equilibrium and draw graphs. Suppose that the government decides to impose a flat tax of 10% on each unit sold. Show that the price that consumers pay would be the same if the government imposed a tax of Rs. 1.70 per unit sold. Draw graphs and explain. Also calculate the total revenue earned by sellers before and after the tax, the tax revenue raised by the government, changes in consumer and producers surplus and dead weight loss.The demand for a product is given by p + 2q = 250 and the supply by p - 4q = 100. a) Find equilibrium values. b) If a flat-rate tax is imposed on each unit sold, find the optimal tax and the maximum possible tax revenue. Verify that tax revenue is maximum.
