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Hello, could u please make the answers clear with these 3 questions. Thanks 1. Use the graph of the market for cigarettes to answer the
Hello, could u please make the answers clear with these 3 questions. Thanks
1.
Use the graph of the market for cigarettes to answer the following questions. 12.00- 11.00- According to the graph, how much is the government tax on cigarettes? 10.00- 9.00- $per pack. (Enter your response rounded to two decimal places.) What price do producers receive after paying the tax? Price (dollars per pack) $ per pack. (Enter your response rounded to two decimal places.) How much tax revenue does the government collect? $ billion dollars per year. (Enter your response rounded 1.00- D to two decimal places.) 0.00 8 12 16 20 24 28 32 36 40 If the tax were collected from the buyers of cigarettes, the Quantity (billions of packs per year) graph would differ from the one shown here by having O A. demand shift up by the tax per pack instead of supply shifting up by the tax per pack. O B. demand shift down simultaneously with, and by the same amount as, the upward shift in supply. O C. demand shift down by the tax per pack instead of supply shifting up by the tax per pack. O D. no shifts at all.$ | per pack. (Enter your response rounded to two 12.00- decimal places.) 11.00- S2 What price do producers receive after paying the tax? 10.00- $ per pack. (Enter your response rounded to two decimal places.) How much tax revenue does the government collect? Price (dollars per pack) $ billion dollars per year. (Enter your response rounded to two decimal places.) If the tax were collected from the buyers of cigarettes, the graph would differ from the one shown here by having D O A. demand shift up by the tax per pack instead of 0.00+ supply shifting up by the tax per pack. 0 8 12 16 20 24 28 32 36 40 Quantity (billions of packs per year) O B. demand shift down simultaneously with, and by the same amount as, the upward shift in supply. O C. demand shift down by the tax per pack instead of supply shifting up by the tax per pack. O D. no shifts at all. With the tax being collected from the buyers instead of the producers, the new equilibrium price that they would pay the producers willThe diagram to the right shows a market in which a price floor has been imposed. Identify the following (enter all values as integers). 6.25 a. The deadweight loss is $ Supply 5.25- -- - - b. The transfer of consumer surplus to producers is $ Pfloor c. Producer surplus with this price floor is $ B C Price d. Consumer surplus with this price floor is $ D E F Demand 2.25 40,000 80,000 QuantitySuppose the current equilibrium price of cheese pizzas is $9.00, and 9 million pizzas are sold per month. After the federal government imposes a $3.00 per pizza tax, the equilibrium price of pizzas rises to $10.00, and the equilibrium quantity falls to 7 million. Compare the economic surplus in this market when there is no tax to when there is a tax on pizza. With the tax, the change in economic surplus is if} A. the new surplus equal to the area under the demand curve and above the supply curve for units between the quantity with the tax and market equilibrium quantity. the deadweight loss equal to the area under the demand curve and above the supply curve for the quantity with the tax. the new surplus equal to the area under the demand curve and above the supply curve for the market equilibrium quantity. the deadweight loss equal to the area under the demand curve and above the supply curve for units between the quantity with the tax and market equilibrium quantity. New government revenue with the tax can be represented by {:j} A. i") B. C. -:"j:- D. the area of a rectangle with a height equal to the equilibrium price and a base equal to the quantity sold. the area of the triangle above the supply curve and below the equilibrium price. the area of a rectangle with a height equal to the tax and a base equal to the quantity sold. the area of a rectangle with a height equal to the difference in the equilibrium price and the tax and a base equal to the quantity soldStep by Step Solution
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