Solve in the detail

Question 1 The following equations represent the annual quantity demanded (Qd) and quantity supplied (Qs) for tickets for Danubiana Museum of Modern Art in Bratislava, Slovakia. Qd = 50,000-1,000P Qs = 10,000+3,000P, where P is the price of a ticket in euros. 3) Find the equilibrium price and quantity of tickets for Danubiana Museum of Art. b) Suppose that the price of museum tickets in Slovakia is regulated and set at P = 5 euros per ticket. Will there be a surplus or a shortage in the market for tickets for Danubiana Museum of Modern Art? If yes, how large will it be? 0) Suppose that there is a price oor of 20 euros per museum ticket in Slovakia. Will there be a surplus or a shortage in the market for tickets for Danubiana Museum of Modem Art? If yes, how large will it be? d) Suppose that there is a price oor of 7 euros per museum ticket in Slovakia. Will there be a surplus or a shortage in the market for tickets for Danubiana Museum of Modern Art? If yes, how large will it be? e) Suppose that there is a price ceiling of 7 euros per museum ticket in Slovakia. Will there be a surplus or a shortage in the market for tickets for Danubiana Museum of Modern Art? If yes, how large will it be? t) Suppose that there is a price ceiling of 20 euros per museum ticket in Slovakia. Will there be a surplus or a shortage in the market for tickets for Danubiana Museum of Modern Art? If yes, how large will it be? b) How many cell phones per year are sold after the tax has been imposed? c) What price per cell phone do consumers pay after the tax has been imposed? d) What price do producers receive per cell phone aer the tax is paid? e) How much of the tax per cell phone is paid by producers? f) How much of the tax per cell phone is paid by consumers? g) How much tax revenue (in total) does the government collect om the tax imposed on cell phones? h) What is the amount of the deadweight loss due to the presence of the tax on cell phones? Question 2 Suppose that the government imposes a per-unit tax on cell phones. The tax is imposed on producers of cell phones and the amount of the tax is $50 per cell phone. The following graph shows the effect of the tax. Use the graph to answer the following questions. Price (P) (per cell phone) New swith tax Sno tax Quantity (Q) r (in billions of cell phones per year) Figure 1 a) What is the equilibrium P* and Q* before the imposition of the tax