In a market where the supply curve is perfectly inelastic, how does an excise tax affect the
Question:
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?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 0% (1 review)
In a market where the supply curve is perfectly inelastic the supply of the good remains fixed and d...View the full answer
Answered By
JAPHETH KOGEI
Hi there. I'm here to assist you to score the highest marks on your assignments and homework. My areas of specialisation are:
Auditing, Financial Accounting, Macroeconomics, Monetary-economics, Business-administration, Advanced-accounting, Corporate Finance, Professional-accounting-ethics, Corporate governance, Financial-risk-analysis, Financial-budgeting, Corporate-social-responsibility, Statistics, Business management, logic, Critical thinking,
So, I look forward to helping you solve your academic problem.
I enjoy teaching and tutoring university and high school students. During my free time, I also read books on motivation, leadership, comedy, emotional intelligence, critical thinking, nature, human nature, innovation, persuasion, performance, negotiations, goals, power, time management, wealth, debates, sales, and finance. Additionally, I am a panellist on an FM radio program on Sunday mornings where we discuss current affairs.
I travel three times a year either to the USA, Europe and around Africa.
As a university student in the USA, I enjoyed interacting with people from different cultures and ethnic groups. Together with friends, we travelled widely in the USA and in Europe (UK, France, Denmark, Germany, Turkey, etc).
So, I look forward to tutoring you. I believe that it will be exciting to meet them.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
On August 29, 2005, Hurricane Katrina caused severe damage to oil installations in the Gulf of Mexico. Although this damage could eventually be repaired, it resulted in a substantial reduction in the...
-
The demand for yak butter is given by 120 4pd and the supply is 2ps 30, where pd is the price paid by demanders and ps is the price received by suppliers, measured in dollars per hundred pounds....
-
In a competitive market, there is currently no tax, and the equilibrium price is $60. The market has a downward-sloping demand curve. The government is about to impose an excise tax of $4 per unit....
-
Water flows in a partially full 2-m-diameter circular pipe an average velocity of 2 m/s. If the water depth in the pipe is 0.5 m, determine the flow area, the wetted perimeter, the hydraulic radius,...
-
(Multiple choice) 1. A vulnerability chart: a. Forces investigators to explicitly consider all aspects of a fraud. b. Shows the history of fraud in a company. c. Identifies weaknesses in every aspect...
-
The principal of a school wants to assess the overall efficiency of teachers by asking 30 students selected using the table of random numbers (Table E.1) to rate the teachers' presentations. Which...
-
What are the varieties of religious prophecy and under what conditions are they most likely to occur?
-
During recent years, your company has made considerable use of debt financing, to the extent that it is generally agreed that the percent debt in the firms capital structure is too high. Further use...
-
Southern Company issued a $600,000 bond at 99% on January 1st. The bond has a two year life and pays 5% interest annually each December 31s t. Prepare the Appropriate Journal entries 2. Magnolia...
-
Economists define normal goods as having a positive income elasticity. We can divide normal goods into two types: Those whose income elasticity is less than one and those whose income elasticity is...
-
A city has built a bridge over a river and it decides to charge a toll to everyone who crosses. For one year, the city charges a variety of different tolls and records information on how many drivers...
-
A population is normally distributed, with a mean of 23.45 and a standard deviation of 3.8. What is the probability of each of the following? a. Taking a sample of size 10 and obtaining a sample mean...
-
Can answer each question below. It is due tomorrow at midnight . Activity 1: Data from Law Enforcement Agencies Answer each of the following questions: Define the terms UCR, NIBRS, SHR and NCVS ....
-
Water is moving at a velocity of 3 . 0 0 m / s through a hose with an internal diameter of 1 . 2 0 cm . What is the volume flow rate in liters per minute? ( 1 m 3 = 1 0 0 0 Liter, 1 min = 6 0 s )
-
The electric field 0 . 3 8 5 m from a very long uniform line of charge is 8 6 0 N / C Part A How much charge is contained in a section of the line of length 2 . 9 0 cm ? Express your answer in...
-
1.Identify and explain four types of corruption schemes. 2.Explain the difference between bribery and illegal gratuity,using an example to support your answer. 3. Explain the concept of a kickback...
-
Explain how this law impacts a police officers responsibilities? PURPOSE To provide a central repository of criminal intelligence received from prisoners and improve communications and sharing of...
-
Researchers Havar Brendryen and Pal Kraft conducted a study in which 396 subjects were randomly assigned to either an experimental smoking cessation program or control group. The experimental program...
-
Arlington Merchants reported the following on its income statement for the fiscal years ending December 31, 2016 and 2015. 2016 2015 Sales $4,857,500 $4,752,900 Cost of goods sold 3,258,950 3,207,000...
-
What critical purpose does the adjusted trial balance serve? A. It proves that transactions have been posted correctly B. It is the source document from which to prepare the financial statements C....
-
Prepare an adjusted trial balance from the following account information, considering the adjustment data provided (assume accounts have normal balances). Equipment was recently purchased, so there...
-
Prepare an adjusted trial balance from the following account information, considering the adjustment data provided (assume accounts have normal balances). Building and Equipment were recently...
-
Propose a rule of inference that includes at least three independent variables, and at least two premises, each containing at least one logical operation. The conclusion must contain at least two...
-
There are 52 weeks in a year. How much does it cost to keep one adult for one year?
-
3. (0/10) Show that F is a convex function by finding its Hessian matrix and proving that it is positive-(semi) definite. Hint: Calculate the Hessian matrix H and show that T H 0 for any R+1....
Study smarter with the SolutionInn App