{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-06-21T09:07:29-04:00", "answer_date": "2024-06-21 09:07:29", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "3423210", "url": "\/study-help\/questions\/the-supply-curve-for-humers-is-given-by-the-equation-3423210", "question_creation_date_js": "2024-06-21T09:07:29-04:00", "question_creation_date": "Jun 21, 2024 09:07 AM", "meta_title": "[Solved] The supply curve for humers is given by t | SolutionInn", "meta_description": "Answer of - The supply curve for humers is given by the equation Q = 80 p - 60 , where Q is the number of hummers supplied and P i | SolutionInn", "meta_keywords": "supply,curve,humers,equation,80,-,60,number,hummers,supplied,price,dollar", "question_title_h1": "The supply curve for humers is given by the equation Q = 80 p - 60 , where Q is the number of hummers supplied", "question_title": "The supply curve for humers is given by the equation Q =", "question_title_for_js_snippet": "The supply curve for humers is given by the equation Q 80 p 60 , where Q is the number of hummers supplied and P is the price in dollar per unit The demand curve for hummers is given by the equation Q 150 60 p, where Q is the number of hummers demanded and P is the price in dollar per unit G Show in the graph the effect of the per unit tax levied on suppliers and consumers H Calculate the per unit tax borne by consumers, and show it in the graph I Calculate the per unit tax borne by suppliers, and show it in the graph J With at least three practical examples in public administration, define deadweight loss in at least 50 total words K Calculate the welfare loss (deadweight loss) associated with the 10 tax, and show it in the graph As a public manager, separately explain what the per unit tax means in terms of (a) ALLOCATIVE EFFICIENCY for society and (b) TECHNICAL EFFICIENCY for the suppliers of Hummers New Problem set 1 PD 1 The supply curve for hummers is given by the equation Q 80p 60, where q is the number of hummers supplied and P is the price in dollar per unit The demand curve for hammers is given by the equatlon Q 150 60p, where Q Is the number of hummer demanded and P is the price In dollar per unit A Graph and calculate the equilibrium price and quantity Price 0 Al equilibrium Qd 05 150 50p 80p 60 p I 31 5 B Calculate what the price is when the quantity demanded is zero, and show the tesuit in the graph $150430 , 450 150 150 6( p 60 60 2 9 C Calculate what the quantity demanded is when the price is zero and show the result in the graph, Q 150 60 (0) Q 150 0 9 150 D Calculate what the price is when the quantity supplied is zero, and show the result in the graph E Calculate the consumer surplus and the producer surplus and show the results in the graph New Problem set 1 PD F i) For equilibrium, demand should be equal to supply 0 150 60p (Demand function) 0 80p 60 (Supply lunction) 150 60p 80p eo 60p 30p 150 60 140p 21 o p 210 140 312 P 3 2 1 5 units Substituting the value of P in the Demand and supply lunction gives the equilibrium quantity 0 150 60p (Demand function) 0 150 (60'312) Q 150 90 0 60 units Theretore emiibrium quantity 60 units ii Quanilgoiupgsled Q Quantjggzztiasn 61 Ed Q Market Surplus or shortage 20 120 Shortage 140 units 20 90 Shortage 140 units 60 60 Equilibrium 100 30 Surplus 70 units 140 0 Surplus 140 units 180 30 Surplus 210 units iii At prices lower than the equilibrium price, the market is experiencing a shortage ot goods and above the equilibrium price market is having a surplus A shortage occurs when the demand is higher than the supply and surplus occurs when demand is lesser than supply G Show in the graph the effect of the per unit tax levied on suppliers and consumers H Calculate the per unit tax borne by consumers, and show it in the graph", "question_description": "\"image\"image 
The supply curve for<\/span> humers is<\/span> given by<\/span> the equation Q = 80<\/span>p - 60<\/span>, where Q is<\/span> the number of<\/span> hummers supplied and<\/span> P is<\/span> the price in<\/span> dollar per unit. The demand curve for<\/span> hummers is<\/span> given by<\/span> the equation Q =150<\/span> - 60<\/span>p, where Q is<\/span> the number of<\/span> hummers demanded and<\/span> P is<\/span> the price in<\/span> dollar per unit.<\/pre>
 <\/p>
G. Show in the graph the effect of the per-unit tax levied on suppliers and consumers.<\/p>
 <\/p>
H. Calculate the per unit tax borne by consumers, and show it in the graph.<\/strong><\/p>
 <\/p>
I. Calculate the per unit tax borne by suppliers, and show it in the graph.<\/strong><\/p>
 <\/p>
J. With at least three practical examples in public administration, define deadweight loss in at least 50 total words<\/strong><\/p>
 <\/p>
K. Calculate the welfare loss (deadweight loss) associated with the 10 tax, and show it in the graph.<\/strong><\/p>
 <\/p>
As a public manager, separately explain what the per unit tax means in terms of (a) ALLOCATIVE EFFICIENCY for society and (b) TECHNICAL EFFICIENCY for the suppliers of Hummers.<\/strong><\/p>
 <\/p>
 <\/p>
 <\/p>
<\/p>
\"image\"image<\/div><\/div><\/div> New Problem set 1 PD... 1.The supply curve for hummers is given by the equation Q = 80p - 60, where q is the number of hummers supplied and P is the price in dollar per unit. The demand curve for hammers is given by the equatlon Q =150 - 60p, where Q Is the number of hummer: demanded and P is the price In dollar per unit. A. Graph and calculate the equilibrium price and quantity. Price 0 Al equilibrium. Qd = 05 150 - 50p=80p - 60 p I 31.5 B. Calculate what the price is when the quantity demanded is zero, and show the tesuit in the graph. $150430}, 450 >150 -150=-6(_}p -60 -60 2.9-? C. Calculate what the quantity demanded is when the price is zero. and show the result in the graph, Q=150-60 (0) Q=150-0 9-150 D. Calculate what the price is when the quantity supplied is zero, and show the result in the graph. E. Calculate the consumer surplus and the producer surplus. and show the results in the graph. New Problem set 1 PD... F. i) For equilibrium, demand should be equal to supply. 0 =150 - 60p (Demand function) 0 = 80p - 60 (Supply lunction) 150 - 60p=80p - eo 60p+30p = 150+60 140p = 21 o p = 210\/140 = 312 P = 3\/2 = 1.5 units Substituting the value of P in the Demand and supply lunction gives the equilibrium quantity. 0 =150 - 60p (Demand function) 0 = 150 - (60'312) Q = 150-90 0 = 60 units Theretore emiibrium quantity = 60 units ii. Quanilgoiupgsled Q Quantjggzztiasn 61 Ed Q = - Market Surplus or shortage -20 120 Shortage = 140 units 20 90 Shortage = 140 units 60 60 Equilibrium 100 30 Surplus = 70 units 140 0 Surplus = 140 units 180 -30 Surplus = 210 units iii. At prices lower than the equilibrium price, the market is experiencing a shortage ot goods and above the equilibrium price market is having a surplus. A shortage occurs when the demand is higher than the supply and surplus occurs when demand is lesser than supply. G. Show in the graph the effect of the per-unit tax levied on suppliers and consumers. H. Calculate the per unit tax borne by consumers, and show it in the graph",
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