Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jun 13, 2024

he demand and supply functions for pens with a tax imposed on the buyers is given by: Qd= 92 - 4(Ps + T) Qs=-168 +

he demand and supply functions for pens with a tax imposed on the buyers is given by:

Qd= 92 - 4(Ps + T)

Qs=-168 + 12(Ps)

What is the market clearing quantity with this tax? (Qs= Qd; Q = ?)

a. Q = 24b. Q = 36c. Q = 48d. Q = 72

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

Step: 3

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

Authors: Paul Krugman, Robin Wells

5th edition

1319098780, 1319098789, 978-1319098780

More Books

Students also viewed these Economics questions

Question

★★★★★

What are self-service terminals and what advantages do they have for financial institutions and their customers?

Answered: 1 week ago

Question

★★★★★

What style of management will be used? What will be the decision-making process in the company? What mechanisms are in place for effective communication between managers and employees? If possible,...

Answered: 1 week ago

Question

★★★★★

List several personal qualities that help people to be happy.

Answered: 1 week ago

Question

★★★★★

Andys Autobody Shop has the following balances at the beginning of September: Cash, $10,000; Accounts Receivable, $1,450; Equipment, $40,000; Accounts Payable, $2,000; Common Stock, $20,000; and...

Answered: 1 week ago

Question

★★★★★

Please solve these mcqs

Answered: 1 week ago

Question

★★★★★

Thomas Googal owns a garage and is contemplating purchasing a tire retreading machine for $ 14,500. After estimating costs and revenues, Thomas projects a net cash inflow from the retreading machine...

Answered: 1 week ago

Question

★★★★★

Dispatch Software Solutions Tugboats might seem like the last place to look for innovative information technology. But Control Software Group recognized the potential of information technology to...

Answered: 1 week ago

Question

★★★★★

7. Suppose a student has no more than t minutes to write an examination consisting of two questions, 1 and 2. He receives A points if he gets question 1 correct and B points if he gets question 2...

Answered: 1 week ago

Question

★★★★★

1. Mention and explain what the inventory control pyramid is. 2. What do the concepts of planning, checking and balance mean in the context of inventory control?

Answered: 1 week ago

Question

★★★★★

As you conduct an in-depth study into Part 139 this week, what strikes you as important or odd? What surprises you? Share with the class your thoughts on whether the regulation is comprehensive...

Answered: 1 week ago

Question

★★★★★

Given the following information, write the equation of a hyperbola. 14. Foci: (0, 8) and (0, -8); Vertices: (0, 7) and (0, -7) 15. Vertices: (6, 0) and (-6, 0); Foci: (61, 0) and (-61, 0) 16. Foci:...

Answered: 1 week ago

Question

★★★★★

Job design efforts have so far met with complete success. True false question. True False

Answered: 1 week ago

Question

★★★★★

2. Develop a good and lasting relationship

Answered: 1 week ago

Question

★★★★★

1. Avoid conflicts in the relationship

Answered: 1 week ago

Question

★★★★★

3. What is happening here and now (1 is oriented towards the proactive, 2 towards the reactive and 3 is a balance between the two). c. Source of inspiration: When I communicate it is important for me...

Answered: 1 week ago

Previous Question Next Question