The graph shows the market for cell phones. The government imposes a sales tax on cell...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
The graph shows the market for cell phones. The government imposes a sales tax on cell phones at $10 a cell phone. The government revenue from this tax is $2,000. $30,000. $7,500. $15,000. 110 105 100 -S + tax D 2 0 2 3 4 5 6 Quantity (thousands of cell phones per week) 95 90 The graph shows the market for cell phones. The government imposes a sales tax on cell phones at $10 a cell phone. The government revenue from this tax is $2,000. $30,000. $7,500. $15,000. 110 105 100 -S + tax D 2 0 2 3 4 5 6 Quantity (thousands of cell phones per week) 95 90
Expert Answer:
Answer rating: 100% (QA)
Answer A 2000 Explanation According to the given data we ... View the full answer
Related Book For
Posted Date:
Students also viewed these economics questions
-
A fire destroys some factories that produce gum and the quantity of gum supplied decreases by 40 million packs a week at each price. Draw a curve to show the effect of this event. Label it 1. Draw a...
-
The following graph shows the market for pollution rights. a. If there are no restrictions on pollution, what amount is discharged? b. What is the quantity supplied and the quantity demanded if the...
-
The following graph shows the market for euros in terms of the Thai Baht. The market is initially in equilibrium at two baht per euro and 16 billion euros traded per day. Suppose the baht falls in...
-
1. For each of the following, compute the present value (Do not round intermediate calculations and round your final answers to 2 decimal places. (e.g., 32.16)): 2. For each of the following, compute...
-
Smart Cookie Corporation purchased 40% of the 320,000 outstanding shares of JTs Fine Foods, Inc. on January 1 of the current year. Smart Cookie acquired the shares at a price of $ 3.20 per share. The...
-
On December 31, 20X7, Mr. and Mrs. McManus owned a parcel of land held as an investment. They had purchased it for $95,000 in 20X0, and the mortgage on it had a principal balance of $60,000 at...
-
Following are observed frequencies. The null hypothesis is H0: p1 = 0.5, p2 = 0.3, p3 = 0.15, p4 = 0.05. a. Compute the expected frequencies. b. Compute the value of X2. c. How many degrees of...
-
I can get Mickey to download any data I need from the Web or our server to my PC, DeWitt Miwaye, an upper-level manager for Yumtime Foods (a Midwest food wholesaler), tells you. Getting data is no...
-
FF&T Corporation is a confectionery wholesaler that frequently buys and sells securities to meet various investment objectives. The following selected transactions relate to FF&T's investment...
-
Surkis Company acquires equipment at a cost of $42,000 on January 3, 2017. Management estimates the equipment will have a residual value of $6,000 at the end of its four-year useful life. Assume the...
-
1) If an average marginal cost is 14, an average selling price is 33 and fixed costs amounted to 76,000. What is Break-even point output? Please Show the calculation! a.4,250 b.4,000 c.5,429 d.2,303...
-
You work in a childcare, An Environmental Responsibility Enhancement Plan for growing a vegetable garden for environmental responsibility has to be completed. Questions (A to J ) have to be about...
-
Assume the zero-coupon yields on default-free securities are as summarized in the following table: Maturity (years) Zero-coupon YTM 1 3.00% 2 3 3.30% 3.50% 4 3.90% 5 4.20% What is the price of a...
-
Yacht Depot has been struggling to meet company goals over the past five years. It seems that customers just aren't appreciating luxury recreation they way they used to. In an attempt to increase...
-
Answer the following questions briefly but precisely, explaining your reasoning: 1. Does the performance measure chosen for an agent affect the agent function? If yes, how? If not, why not? Feel free...
-
How do central banks utilize quantitative easing (QE) as a monetary policy tool, and what are its long-term implications for the financial system ?
-
A company is increasing the production of a product at the rate of 25 units per week. The demand and cost functions for the product are given by p = 60 - 0.02x and C = 3000 + 20x - 0.04x^(2). Find...
-
Akramin just graduated with a Master of Engineering in Manufacturing Engineering and landed a new job in Melaka with a starting salary of RM 4,000 per month. There are a number of things that he...
-
According to an article in Forbes, the cost of materials in Apple's iPhone 6 with 16 gigabytes of memory was estimated to be $227. Apple was selling the iPhone 6 for $650. Most phone carriers, like...
-
A news story notes that some features of the U.S. health care system contribute "to the high cost of medical care by encouraging hospitals and doctors to perform tests and procedures regardless of...
-
Briefly discuss each of the five goals and principles governments consider when deciding which taxes to use.
-
Find the natural frequency of vibration in bending of the system shown in Figs. 2.88 (a) by modeling the system as a single-degree-of-freedom system. Assume that the mass is \(50 \mathrm{~kg}\) and...
-
Determine the equivalent spring constant and the natural frequency of vibration of the system shown in Fig. 2.87. Beam, EI m 0000 0000 k k k FIGURE 2.87 Beam connected to mass and springs.
-
Find the natural frequency of vibration in bending of the system shown in Figs. 2.88 (b) by modeling the system as a single-degree-of-freedom system. Assume that the mass is \(50 \mathrm{~kg}\) and...
Study smarter with the SolutionInn App