Question: Suppose the weekly demand for a certain good in thousands of units, is given by the equation F = 31 - Q, and the weekly


Suppose the weekly demand for a certain good in thousands of units, is given by the equation F = 31 - Q, and the weekly supply curve of the good by the equation P = 13 + 20 where P is the price in dollars. Finally, suppose a perunit tax of $6, to be collected from sellers is imposed in this market. Complete the following questions. Note: If necessary round your answers to two decimal places. a) Graph the weekly demand, supply (pre-tax), and supply (post-tax) equations. v Supply Curve (without tax) 6 81012141618 Quantity(tl'iousandsotunitslweek) i b) What is the equilibrium price before the tax? Equilibrium Price = sl c) What is the Consumer and Producer Surplus before the tax? Note: Remember that the quantity of units on the graph are in thousands. Producer Surplu $ Consumer Surplus = $ d) What is the new Consumer and Producer surplus after the tax is imposed? Note: Remember that the quantity of units on the graph are in thousands. Producer Surplus = $0 Consumer Surplus = $0 e) How much government revenue will this tax generate a week? Note: Remember that the quantity of units on the graph are in thousands. lGovernment Revenue = $0 per week
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