fer to Figure 8-6. What would happen to producer surplus if the tax were imposed on the =ller? Oa. It would fall by $1800. O b. It would fall by $2400. OC. It would fall by $600. O d. It would fall by $900.
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- What is producer surplus? How is it illustrated on a demand and supply diagram?In a market where the supply curve is perfectly inelastic how does an excise tax affect the price paid by consumers and the quantity bought and sold?Suppose that the demand curve for wheat is Q500 - 10p and that the supply auve is O 10p What are the efects of a subnidy (negative tax) ofs4 per unit paid to produoers on the equlibrium, govemment. subsidy cost, consumer surplus (CS), producer surplus (PS), weifare (W, and deadweight loss (DWL)? Wih the subsidy, the equibrium price is Sand the equilibrium quantity isunits. (Enter your responses as whole numbers) The cost of the subsidy to the govermment is S (Enter your response as a whole number) The change in consumer surplus (ACS) is S (Enter your response as a whole number.) The change in producer surplus (APS) is S Enter your response as a whole number) The change in welttare (AW) is S (Enter your reaponse as a whole number and include a minus sign i necessary Deadweight loss is S (Ender your response as a whole number)
- Figure 6 below represents a market with a tax that has been imposed on it. Use it to answer the questions that follow. P2* P1* H A B G C D E Q2* Q1* Figure 6 S2 S1ard My courses My Media 30 t of s page pter 17 Figure 8-5 Price Pa P₁ P₂ 0 B D F Tax G 8₂ C O a. F O b. A OC. A+B+C O d. D+E E H 9₁₂ D Jump to... Quantity Refer to Figure 8-5. Which area represents producer surplus after the tax is levied on the consumer? Time left 0:49:47 NEXT PAGE ?Heip m/ultra/courses/_165411_1/cl/outline lyLab M... W WordCounter 5 Quizlet * Question Completion Status: QUESTION 13 Figure 6-25 1ice 10 Is 6. 4 1 Daftertade 10 20 30 40 50 60 70 80 quantity Refer to Figure 6-25. The equilibrium price in the market before the tax is imposed is O a. $5. O b.$2. Oc. $1. O d. $6. Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answers tv
- Question 11 Figure #3: The graph below represents a $10 per unit tax on a good then the amount bought and sold in the market is only 4 units. Note that Q represents quantity and P represents price. 24 20 16 Supply 12 D G 4 K L M Demand 4. 6 8. 10 12 14 16 Refer to Figure #3. After the tax goes into effect, what is (or are) the area(s) representing the loss of producer surplus? O A OB+C O D +F O A+B+D+ J + K :-The vertical distance between points A and B represents a tax in the market. 11 10 Supply 9 K PRICE Demand Select one: O a. St O b. $2. OC. 50. d. $3. 05 10 15 20 25 30 35 40 45 50 55 60 QUANTITY Refer to Figure 8 2. The loss of producer surplus for those sellers of the good who continue to sell it after the tax is imposed isA technology change shts the inverse eply function from 1+3y to p1+g verse demand is p21- Which of the following statements are te in epubrium 1 Producer surplua inoreases Gtion8 2 Consumer surplus increases 3 Ouantity doubles a None 1 and 2 C 12 and 3 d 1 and 3 Vour aner ie inconect The conect aswer 12 and 3 The government wanta to impose a $3 per unit tax on sugar to reduce sugar consumption. is known that tases wil result in a deadweight los Given the supply function is -3p. which of the folowing inverse demand function will result in the smalest deadweight loss? Guesti9 000 p out a Insufficient information to conclude p-700-24 p-1000-3y TUur answera inconec
- Consider a market in which the demand curve is given by P = 9 -0.1Qd, and the supply curve is given by P = 0.2Qs. Suppose the government imposes a price floor of 7 dollars. How much is producer surplus? 100 ○ 40 90 070 Crider a market in which he and by 1-41 Selected Answer88 Awers 0100 70 pics of how much isThe figure shows the market for tires. The figure shows that the government has imposed a tax of per tire. Price (dollars per tire) O A. $40 S+ tax 70 В. $60 60 O C. $30 50 +..... O D. $10 hat ma O E. None of the above answers is correct. 40 As 30 20 Ass 10 10 20 30 40 50 60 70 Quantity (millions of tires per month) its AR O Time Remaining: 00:59:31 Next ompleted This course (ECON202 s2022 online) is based on Bade/Parkin: Foundations of Microeconomics, 9e MacBook Pro terwebsite nameQuestion 16 Figure #3: The graph below represents a $10 per unit tax on a good then the amount bought and sold in the market is only 4 units. Note that Q represents quantity and P represents price. P 24 20 A. 16 Supply B. 12 GIH 4 M Demand 2 4. 10 12 14 16 Refer to Figure #3. Before the tax goes into effect, what is (or are) the area(s) representing the consumer surplus? O A O B+C O A+B+C O A+B+D +J + K