The laws of supply and demand determine who actually pays a tax. 1. Describe the conditions under
Question:
1. Describe the conditions under which consumers will pay the full tax.
2. Describe the conditions under which producers will pay the full tax.
3. Explain how the government can maximize tax revenues.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 84% (13 reviews)
1 Consumers will pay the full tax if demand is perfectly inelastic ...View the full answer
Answered By
ANDREW KIPRUTO
Academic Writing Expert
I have over 7 years of research and application experience. I am trained and licensed to provide expertise in IT information, computer sciences related topics and other units like chemistry, Business, law, biology, biochemistry, and genetics. I'm a network and IT admin with +8 years of experience in all kind of environments.
I can help you in the following areas:
Networking
- Ethernet, Wireless Airmax and 802.11, fiber networks on GPON/GEPON and WDM
- Protocols and IP Services: VLANs, LACP, ACLs, VPNs, OSPF, BGP, RADIUS, PPPoE, DNS, Proxies, SNMP
- Vendors: MikroTik, Ubiquiti, Cisco, Juniper, HP, Dell, DrayTek, SMC, Zyxel, Furukawa Electric, and many more
- Monitoring Systems: PRTG, Zabbix, Whatsup Gold, TheDude, RRDtoo
Always available for new projects! Contact me for any inquiries
4.30+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Economics questions
-
1. When tariffs are imposed on European imports of shoes from China and Vietnam, who stands to gain? Who stands to lose? 2. European policymakers object to the fact that some Asian shoe production is...
-
1. Some have argued that higher cigarette prices do not deter smoking. While there are many arguments both for and against this view, some find the following argument to be the most persuasive of...
-
What do the laws of supply and demand predict would be the result of an immediate removal of rent control in terms of the price of rental housing and the quantity available?
-
Norman Freight purchased a building for $1,100,000 and depreciated it on a straight-line basis over a 30-year period. The estimated residual value was $140,000. After using the building for 15 years,...
-
Compare the silo and integrated architectures. Do you see any advantages associated with the silo architecture? Explain.
-
Formulate a hypothesis-testing procedure for a Mann-Whitney test that uses the test statistic z given in the preceding box?
-
When inflation is predicted over the life of a project under assessment, there are two approaches to dealing with inflation. What are these? Which is the better one to use?
-
A professional diver performs a dive from a platform 10 m above the water surface. Estimate the order of magnitude of the average impact force she experiences in her collision with the water. State...
-
Who should have a living will? a. Competent individuals 18 years old or older b. Children who go to camp or extended trips without parents with them. c. Mentally incompetent adults who need help with...
-
As part of a major plant renovation project, the industrial engineering department has been asked to balance a revised assembly operation to achieve an output of 240 units per eight- hour day. Task...
-
Price elasticity of supply measures the responsiveness of quantity supplied of a good to a change in the price of that good. 1. State the formula for calculating price elasticity of supply. 2....
-
At point A on a demand curve, price is $10 and quantity demanded is 100. At point B, price is $12 and quantity demanded is 80. What does price elasticity of demand equal between points A and B?
-
(a) Draw a bar graph that appears to show a small increase in the median age at first marriage for males. (b) Draw a bar graph that appears to show a large increase in the median age at first...
-
Financial Statement Items Identify the financial statement (or statements) in which each of the following items would appear: income statement (IS), statement of stockholders' equity (SSE), balance...
-
Recall from Chapter 4 that Tiger Stripe Copy Center is a small business located near a large university campus. Tiger Stripe Copy offers a range of services to walk-in customers, including passport...
-
Accounting Processes Identify the following processes as either measuring or communicating. a. Prepare financial statements for the entity b. Identify relevant economic activities of the entity c....
-
To estimate future values of the cost indices, one is tempted to assume that the average value for the year occurred at midyear (June 30-July 1) and that the linear fit to the recent data can be...
-
Reston Manufacturing Corporation produces a cosmetic product in three consecutive processes. The costs of Department | for May 2016 were as follows: Department | handled the following units during...
-
Of all the business innovations explorer Marco Polo discovered in thirteenth century China, he was perhaps most surprised by the use of paper money. It was worth dozens of times the weight of the...
-
The domain of the variable in the expression x 3/x + 4 is________.
-
Electro-Rad Inc., a developer of radiology equipment, has stock outstanding as follows: 50,000 shares of \(2 \%\), preferred stock of \(\$ 50\) par, and 100,000 shares of \(\$ 25\) par common. During...
-
Barnacle Industries was awarded a patent over 15 years ago for a unique industrial strength cleaner that removes barnacles and other particles from the hulls of ships. Thanks to its monopoly...
-
During the dot-com era, mergers among some brokerage houses resulted in the acquiring firm paying a premium on the order of $100 for each of the acquired firms customers. Is there a business...
-
Argyle is a large, vertically integrated firm that manufactures sweaters from a rare type of wool produced on its sheep farms. Argyle has adopted a strategy of selling wool to companies that compete...
-
What is the risk profile of your company? (How much overall risk is there in this firm? Where is this risk coming from (market, firm, industry or currency)? (APPLE COMPANY LATEST DATA) How is the...
-
What is the duration for the following bond with annual payments? 5.6300 5.7957 4.9894 5.1910 5.3806
-
DOLLAR TREE GROCERY OUTLET Short-Term Liquidity 2021 2022 2021 2022 Current Ratio 1.35 1.51 1.86 1.67 Quick Ratio 0.24 0.15 0.63 0.42 Cash Ratio Cash Conversion Cycle 34.78 45.75 19.41 21.61 Days...
Study smarter with the SolutionInn App