Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1. In your opinion, if the government imposes unit sales tax (i.e. $ tax per unit sold) on a product, which one, demand or supply

1. In your opinion, if the government imposes unit sales tax (i.e. $ tax per unit sold) on a product, which one, demand or supply will shift? Increase or decrease? Will the new tax cause "disequilibrium"? Please state clearly about the shift (leftward or rightward) and the equilibrium price and quantity change. No graph is required.

2. If the gasoline price remains low and the high tariff on import car in both China and U.S., what will be the possible impact on the U.S. market price ofTesla Model X? Please explain your answer in the language of economics. A reference link to support your answer is a plus.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Global Business Today

Authors: Charles Hill

9th Edition

1259299201, 9781259299209

More Books

Students also viewed these Economics questions

Question

Examine various types of executive compensation plans.

Answered: 1 week ago

Question

1. What is the meaning and definition of banks ?

Answered: 1 week ago

Question

2. What is the meaning and definition of Banking?

Answered: 1 week ago

Question

3.What are the Importance / Role of Bank in Business?

Answered: 1 week ago