Question: Please solve questions e ) , f ) , g ) and show steps on how to solve. Thanks ( e ) ( 3 marks
Please solve questions e f g and show steps on how to solve. Thanks e marks Suppose the government imposes a tax driving the price of a quick meal up to $ and the tax incidence on consumers is What is the value of the per unit tax? Whats the government revenue? How large of a deadweight loss would exist?
f marks Instead of a tax, suppose Vancouver city council becomes concerned with how much trash the Mr Beast fans could generate and limits the total number of quick meals to Q What happens to the price in this market hint: there will not be a shortage in the market How large is the deadweight loss here?
g marks Explain if producers prefer the outcome with no government, the imposition of a tax, or the quota using Producer Surplus.
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