help w/ 7-9

7 In. GRAPH Tax Burden : On SETTINGS Reset ($) Price Tax imposed on: Supply Demand 90 points $90.00 Excise Tax (0 - $20) 0.00 80 Skipped S 70 Demand 60 Perfectly Relatively Inelastic Elastic 50. . . .......... . . .. Relatively Elastic eBook 40 Supply Less 30 Perfectly References Elastic $25.00 Elastic 20 Relatively Elastic 10 EEEE CALCULATIONS 0 1.0 3.0 4.0 5.0 6.0 7.0 8.0 9.0 Quantity Price Paid Quantity (thousands per week) No Tax Burden on Burden on Tax Revenue Welfare Loss $50.00 4,000 the Consumer the Producer (Deadweight Loss) Tax Paid Tax Paid + With Tax $50.00 4,000 Instructions: Adjust the sliders so that the vertical intercept of the supply curve is $25 and the vertical intercept of demand curve is $90. Click the Tax Burden switch above the graph to On. Make additional modifications to the interactive tool as indicated to answer the following questions. a) If there is no tax, the equilibrium price is $50. If a $10 tax paid on sellers is implemented, the buyer will pay $ and the burden of the tax ( (Click to select) Report the price to two decimal places.7 In. GRAPH Tax Burden On SETTINGS Reset ($) Price Tax imposed on: Supply Demand 90 points $90.00 Excise Tax (0 - $20) 0.00 80 Skipped S 70 Demand 60 Perfectly Relatively Inelastic Elastic Relatively Elastic eBook 50. . . . . . . . .. . . . . . ... 40 References 30 20 $25.00 10 . . ............ Supply Less Perfectly Elastic Elastic Relatively Elastic Ed CALCULATIONS 0 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 9.0 Quantity Price Paid Quantity (thousands per week) No Tax Burden on Burden on Tax Revenue Welfare Loss $50.00 4,000 the Consumer the Producer (Deadweight Loss) Tax Paid Tax Paid With Tax $50.00 4,000 Instructions: Adjust the sliders so that the vertical intercept of the supply curve is $25 and the vertical intercept of demand curve is $90. Click the Tax Burden switch above the graph to On. Make additional modifications to the interactive tool as indicated to answer the following questions. a) If there is no tax, the equilibrium price is $50. If a $10 tax paid on sellers is implemented, the buyer will pay $ ]and the burden of the ti v (Click to select) Report the pi is entirely paid by buyers is entirely paid by sellers b) Suppose the is shared by buyers and sellers become more elastic (and even perfectly elastic) with the original equilibriumInstructions: Adjust the sliders so that the vertical intercept of the supply curve is $25 and the vertical intercept of demand curve is $90. Click the Tax Burden switch above the graph to On. Make additional modifications to the interactive tool as indicated to answer the following questions. a) If there is no tax, the equilibrium price is $50. If a $10 tax paid on sellers is implemented, the buyer will pay $ and the burden of the tax ( (Click to select) Report the price to two decimal places. b) Suppose the supply curve gradually changed to become more elastic (and even perfectly elastic) with the original equilibrium remaining at (Q,P) = (4000, $50) and no other changes. Complete the following statements that describe the effects of this change in supply elasticity. i) The quantity bought and sold increases .increases and then decreases .decreases and then increases .does not change decreases ii) The government's revenue does not change .decreases and then increases increases and then decreases decreases increases iii) The consumers' share of the tax burden, measured as percentage of government's revenue derived from consumers, does not change decreases decreases and then increases .increases .increases and then decreases iv) The producers' share of the tax burden, measured as percentage of government's revenue derived from producers, O increases increases and then decreases .does not change decreases .decreases and then increases8 Refer to the interactive below: Tax Burden In. GRAPH Tax Burden : On SETTINGS Reset points Skipped ($) Price Tax imposed on: Supply Demand 90 $90.00 Excise Tax (0 - $20) 0.00 80 eBook 70 S Demand 60 Perfectly Relatively References Inelastic Elastic 50.. . . . . . Relatively Elastic 40 30 $30.00 20 10 . . . . . . ...... . Supply Less Perfectly Elastic Elastic Relatively Elastic CALCULATIONS 0 1.0 3.0 4.0 5.0 6.0 7.0 8.0 9.0 Quantity Price Paid Quantity (thousands per week) No Tax Welfare Loss $50.00 4,000 Burden on Burden on Tax Revenue the Consumer the Producer (Deadweight Loss) With Tax Tax Paid Tax Paid $50.00 4,000 Instructions: Adjust the sliders so that the vertical intercept of the supply curve is $30 and the demand curve is perfectly inelastic. Click the Tax Burden switch above the graph to On. Make additional modifications to the interactive tool as indicated to answer the following questions a) If there is no tax, the equilibrium price is $50. If a $15 tax paid on sellers is implemented, the buyer will pay $ | | and the burden of the tax | (Click to select)8 Refer to the interactive below: Tax Burden In. GRAPH Tax Burden On SETTINGS Reset points Skipped ($) Price Tax imposed on: Supply Demand 90 $90.00 Excise Tax (0 - $20) 0.00 80 eBook 70 S Demand 60 Perfectly Relatively References Inelastic Elastic 50. .. Relatively Elastic 40 Supply 30 Less Perfectly $30.00 Elastic Elastic 20 Relatively Elastic 10 EEEE CALCULATIONS 0 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 9.0 Quantity Price Paid Quantity (thousands per week) No Tax 4,000 Burden on Burden on Tax Revenue Welfare Loss $50.00 the Consumer the Producer (Deadweight Loss) Tax Paid Tax Paid With Tax $50.00 4,000 Instructions: Adjust the sliders so that the vertical intercept of the supply curve is $30 and the demand curve is perfectly inelastic. Click the Tax Burden switch above the graph to On. Make additional modifications to the interactive tool as indicated to answer the following questions a) If there is no tax, the equilibrium price is $50. If a $15 tax paid on sellers is implemented, the buyer will pay $ and the burden of the to v (Click to select) is entirely paid by buyers b) Suppose the is entirely paid by sellers to become more elastic with the original equilibrium remaining at (Q,P) = (4000, $50) and no change is shared by buyers and sellers following statements that describe the effects of this change in demand elasticity.Instructions: Adjust the sliders so that the vertical intercept of the supply curve is $30 and the demand curve is perfectly inelastic. Click the Tax Burden switch above the graph to On. Make additional modifications to the interactive tool as indicated to answer the following questions. a) lfthere is no tax, the equilibrium price is $50. lfa $15 tax paid on sellers is implemented, the buyer will pay :5 |:| and the burdenormet_ b) Suppose the demand curve gradually changed to become more elastic with the original equilibrium remaining at (OP) = (4000, $50) and no change to the supply curve. Complete the following statements that describe the effects of this change in demand elasticity. i) The quantity bought and sold increases decreases does not change increases and then decreases decreases and then increases ii) The government's revenue increases and then decreases increases decreases does not change decreases and then increases iii) The consumers' share of the tax burden, measured as percentage of government's revenue derived from consumers, decreases increases increases and then decreases does not change decreases and then increases iv) The producers' share of the tax burden, measured as percentage of government's revenue derived from producers, decreases and then increases increases decreases increases and then decreases does not change 9 Refer to the interactive below: Tax Burden 1 Tax Burden . a6 SEITINGS Skipped - Tax imposed on: Supply Demand r !| Excise Tax (0 $20) 0.00 eBDak Demand Perfectly . Relatively References Inelastic Elastic Relatively Elastic Supply Less Elastic Perfectly Elastic CALCULATIONS 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 9 0 Quantity (thousands per week) Burden on Burden on Tax Revenue Welfare Loss the Consumer the Producer (Deadweight Loss) - Tax Paid 2 Tax Paid - + ' Instructions: Adjust the sliders so that the vertical intercept of the demand curve is $80 and the supply curve is perfectly elastic. Click the Tax Burden switch above the graph to On. Make additional modications to the interactive tool as indicated to answer the following questions. a) lfthere is no tax, the equilibrium price is $50. If a $15 tax on sellers is implemented, the buyer will pay 3; |:| and the burden of 9 Refer to the interactive below: Tax Burden In. GRAPH Tax Burden On SETTINGS Reset points Skipped ($) Price Tax imposed on: Supply Demand 90 Excise Tax (0 - $20) 0.00 80 $80.00 eBook 70 Demand n 60 Perfectly Relatively References Inelastic Elastic 50 Relatively Elastic $50.00 40 30 . . . . . . S Supply Less Perfectly Elastic Elastic 20 D Perfectly Elastic 10 BEER CALCULATIONS 0 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 9.0 Quantity Price Paid Quantity (thousands per week) No Tax Burden on Burden on Tax Revenue Welfare Loss $50.00 4,000 the Consumer the Producer (Deadweight Loss) Tax Paid Tax Paid With Tax $50.00 4,000 Instructions: Adjust the sliders so that the vertical intercept of the demand curve is $80 and the supply curve is perfectly elastic. Click the Tax Burden switch above the graph to On. Make additional modifications to the interactive tool as indicated to answer the following questions. a) If there is no tax, the equilibrium price is $50. If a $15 tax on sellers is implemented, the buyer will pay $ and the burden of the tiv (Click to select) is entirely paid by buyers b) Su is entirely paid by sellers y changed to become more inelastic (and even perfectly inelastic) with the original equilibrium rema is shared by buyers and sellers change to the supply curve. Complete the following statements that describe the effects of this change in demand elasticity.Instructions: Adjust the sliders so that the vertical intercept of the demand curve is $80 and the supply curve is perfectly elastic. Click the Tax Burden switch above the graph to On. Make additional modications to the interactive tool as indicated to answer the following questions. a) If there is no tax, the equilibrium pri the tax: ' ce is $50. lfa $15 tax on sellers is implemented, the buyer will pay 35 |:| and the burden of b) Suppose the demand curve gradually changed to become more inelastic (and even perfectly inelastic) with the original equilibrium remaining at (OP) = (4000, $50) and no change to the supply curve. Complete the following statements that describe the effects of this change in demand elasticity. i) The quantity bought and sold decreases and then increases increases does not change increases and then decreases decreases ii) The government's revenue decreases and then increases decreases does not change increases and then decreases increases iii) The consumers' share of the tax burden, measured as percentage of government's revenue derived from consumers, increases decreases and then increases does not change decreases increases and then decreases iv) The producers' share of the tax burden, measured as percentage of government's revenue derived from consumers, increases and then decreases increases decreases and then increases does not change decreases