Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

first question : Market demand is given as Q - 140 - 4P Market supply is given as Q5 - 2P - 10 Suppose the

first question :

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed
Market demand is given as Q - 140 - 4P Market supply is given as Q5 - 2P - 10 Suppose the government implements a tax of $9 on consumers. What is the value of producer surplus after the tax? ( a) $196 (b) $252 O c) $400 O d) $204Market demand is given as Q" = 140 - 5P. Market supply is given as Q = 2P. In a perfectly competitive equilibrium, what will be the value of producer surplus? ( a) $160 ( b) $400 c) $800 ( d) $1100Question 12 (1 point) Market demand and market supply are given by Qd = 630 - 2P and Qs = 2P - 10. Suppose the government imposes a tax on the market and the after-tax supply is Qstax = 2P - 16. What price do consumers pay after-tax? *DO NOT include units, like the $ sign. *DO NOT leave any spaces before, in between or after your number. *Round your answer to two decimal places. AQuestion 19 (1 point) Market demand and market supply are given by Qd = 1500 SOP and Q5 = 200P - 50. Suppose the government places a tax of $5 on the producers. What is the after-tax equation? *DO NOT use Qd or Q5 in your response. *Only use P in your response. \"'00 NOT include spaces. Your response should look like this: 88-2P (This is not the answer.) &/

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Microeconomics An Intuitive Approach with Calculus

Authors: Thomas Nechyba

1st edition

538453257, 978-0538453257

Students also viewed these Economics questions

Question

How does the concept of hegemony relate to culture?

Answered: 1 week ago