1. (a) If the tax is doubled, how many units will be sold? (b) Can a government...
Question:
1. (a) If the tax is doubled, how many units will be sold?
(b) Can a government lose money by increasing taxes?
2. If a $38 tax is placed on each unit of the product of Problem 47, what are the new equilibrium price and quantity?
Find the equilibrium point for the following supply and demand functions.
Demand: p = -4q + 220
Supply: p = 15q + 30
Problems involve market equilibrium after taxation.
Use the following figure to answer Problems.
Transcribed Image Text:
140 Supply (after tax) Demand 120 Тах100 Supply (before tax) 80+ 20 40 60 80 100
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1 a 0 tax decreases units sold by 50 b Yes because fewer ...View the full answer
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Related Book For
Mathematical Applications for the Management Life and Social Sciences
ISBN: 978-1305108042
11th edition
Authors: Ronald J. Harshbarger, James J. Reynolds
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