Which of the following statements about negative incentives is the most accurate? They increase benefits or reduce costs. O They increase benefits and increase costs They decrease benefits or increase costs. They include both cash subsidies and taxes.
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- The demand for cigarettes, which create negativeexternalities through secondhand smoke, is oftenrelatively inelastic. That is, when the price of cigarettes changes, the quantity demanded changes bya smaller portion. Using this fact, explain to whatextent you think a tax on cigarettes would fulfilleach of the goals of taxation.You are working as a private math tutor to raisemoney for a trip during spring break. You wantto raise as much money as possible. Should youshould increase or decrease the price you charge?Explain.If a city imposed say a 5 cent tax on plastic shopping bags instead of banning them, how does this change the incentives of consumers? How will their behavior change? What were three ways consumers changed their behavior as a result of a plastic shopping bag ban?
- tudy Tools s ss Tips s Tips Point A TAX REVENUE (Billions of dollars) C D 20 Complete the following table by indicating what the government should do in order to maximize tax revenues if it is operating at each of the points listed. + OOO с $ INCOME TAX RATE (Percent) xo Raise Tax Rates Lower Tax Rates Keep Current Tax Rates O O O ooo 100 % MacBook Pro G Search or type URL & * O ( O C 11 A-ZBookmarks ory Profiles Help Tab Window O 令 ntent + wku.blackboard.com/ultra/courses/_165411_1/cl/outline Updat oard P pearson/MyLab M. W WordCounter O Quizlet 国 Readin * Question Completion Status: Figure 7-4 ↑Price F B P2 Demand Q1 Q2 Quantity Refer to Figure 7-4. Which area represents the increase in consumer surplus when the price falls from P1 to P2? O a. ABDG О Б. АВС OC. AFG O d. BDF Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answers Save and Submit OCT 19 tv w MacBook Pro %23 24 % 3. 4 6. 7 8. 9.3. Using the concept of substitutes and complements, A. explain with the help of a diagram how legalising cannabis may possibly affect the sales of alcohol and cigarettes. B. When the State government evaluates the effect of legalising cannabis on tax revenue, should it look only at the sales of cannabis? Or, should it also consider the changes in the sales of alcohol and cigarettes? This was answered before, but they answered it wrong. https://www.bartleby.com/questions-and-answers/question-1.-with-the-help-of-a-numerical-example-explain-why-california-and-maine-tax-cannabis-by-we/fc31e3c7-6c1b-47ea-b598-5c3c80adacaa At the P labeled in the diagram, it is not at Q nor the Q1 that is labelled.
- Use the following two statements to answer this question: L. Economic theories are developed to explain observed phenomena by deducing from a set of basic rules and assumptions. IL Economic theories use value judgments to determine which people ought to pay more taxes O A. Both I and Il are true. O B. Iis false. and Il is true. O C. Both I and II are false. O D. Iis true, and Il is falsePricing with Market Power and Consumer SurplusPat’s Patriotic Tattoosis the only tattoo parlor in town.Pat tattoos only images of the American flag. Thereare 20 consumers whoare willing to buy a tattoo. Each consumeris interested in buying only onetattoo,butthey vary in their willingness to pay. One consumeris willing to pay $20for a tattoo; anotheris willingto pay $19; a third, $18, down to the consumerleast willing to pay whohasareservationprice of $1. The Effects of Price DiscriminationUse the exampleofPat’s Patriotic Tattoos to make some conclusions abouttheeffects of pricediscrimination.8. What happensto consumersurplusif a firm successfully price discriminates?9. What happenstothefirm’s profits if it successfully price discriminates?10. What happensto the quantity supplied by a successful price-discriminating monopoly firm compared with a nonprice-discriminating monopoly firm?11. How doesthe quantity supplied by a successful price-discriminating monopoly firm compare.with the…18. The U.S. Senate is considering a bill that would tax the sale of laptop computers in order to fund a computer educa- tion program for presidential hopefuls. The Congressional Budget Office (CBO) estimates that if it implements a low tax of $12 per laptop, revenue should be sufficient to exactly fund the program. The CBO also estimates that a high tax of $230 per laptop will exactly fund the program. a. How can a low tax and a high tax raise exactly enough money to fund the program? Illustrate your answer using a graph. b. Suppose that you are an economic advisor to the Senate Finance Committee, tasked with analyzing the economic impact of the tax proposals. Which proposal do you recommend, and why?
- The state has decided to increase funding for public education. They are considering four alternative taxes to finance these expenditures. All four taxes would raise the same amount of revenue.1.sales tax on food.2.tax on families with school-age children.3.property tax on vacation homes.4.sales tax on jewelry.(1) Taxes change incentives. How might individuals change their behavior becauseof each of these taxes?Ceteris paribus, if the government removes a tax on a good, then the price paid by buyers will received by seller will, Select one: a. increase; increase b. increase; decrease. c. decrease; increase. d. decrease; decrease. while the (net) priceUsing the concept of substitutes and complements,A. explain with the help of a diagram how legalising cannabis may possibly affect the sales of alcohol and cigarettes. B. When the State government evaluates the effect of legalising cannabis on tax revenue, should it look only at the sales of cannabis? Or, should it also consider the changes in the sales of alcohol and cigarettes?