Question

Given a demand curve of P = 72 - Q and a supply curve of P...

Given a demand curve of P = 72 - Q and a supply curve of P = 2 + 1.5Q. Solve for DWL with a tax of 30 (Answer 1) and with a tax of 60 (Answer 2).

Business   Economics   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Given a demand curve of P = 30 - Q and a supply curve of P...
Given a demand curve of P = 30 - Q and a supply curve of P = 0.25Q, with a tax of 25, solve for the dollar value of the tax burden on both consumers (Answer 1) and producers (Answer 2).
Given a demand curve of P = 38 - 1.5Q and a supply curve of P...
Given a demand curve of P = 38 - 1.5Q and a supply curve of P = 10 + 0.5Q, with a tax of 24, solve for the resulting CS (Answer 1) and PS (Answer 2).
Given a demand curve of P = 63 - 1.5Q and a supply curve of P...
Given a demand curve of P = 63 - 1.5Q and a supply curve of P = 3 + 0.5Q, with a tax of 24, solve for the percentage loss of surplus for both consumers (Answer 1) and producers (Answer 2). The formula for percentage loss is, for example, (CS - CSt)/CS.   
Given a demand curve of P = 118 - 1.5Q and a supply curve of P...
Given a demand curve of P = 118 - 1.5Q and a supply curve of P = 4 + 1.5Q, with a subsidy of 54, solve for the cost to the government of implementing the subsidy.
Given a demand curve of P = 77 - Q and a supply curve of P...
Given a demand curve of P = 77 - Q and a supply curve of P = 1 + Q, with a subsidy of 24, solve for the resulting quantity.
Assume that the supply curve is given by p = q and the demand curve of...
Assume that the supply curve is given by p = q and the demand curve of p = 10-q. The production provides create an externality that is 2 per device. How big tax revenue is the state of one corporation tax that eliminates externality?
Let the market demand curve be QD=8-P and the market supply curve be QS=P. Let price...
Let the market demand curve be QD=8-P and the market supply curve be QS=P. Let price P be measured in $/unit and let quantity Q be measured in singular units (i.e. simple count). Solve for the equilibrium price P* and quantity Q*. Now, assume the government imposes a $2/unit tax on consumers, which leads to wedge/gap between the buyers’ price Pb and the sellers’ price PS. Rewrite the demand and supply curves using Pb and PS, respectively. Write down the...
Q#3: Externalities The Demand curve for parking lots is given by P=1000-Q.The supply of parking spots...
Q#3: Externalities The Demand curve for parking lots is given by P=1000-Q.The supply of parking spots in a city is associated with increasing external costs. While the private supply curve is given by P=Q (where P denotes price and Q quantity), the social supply curve is P=2Q. Now assume the city imposes a Pigou Tax on the supply. Calculate the remaining deadweight loss. Rounded up or down to the next closest integer. (2 pts)
The supply curve in a market is given by P = 13 + 1.5(Q). The first...
The supply curve in a market is given by P = 13 + 1.5(Q). The first demand curve (D 1) is P = 52 - 2.0(Q), while the second demand curve (D 2) is P = 36.4 - 2.0(Q). The change in price is a decrease of $____. A. B. C. D. E. F. G.
A small country’s demand curve is given by Q=10-(P/2) and its supply curve is given by...
A small country’s demand curve is given by Q=10-(P/2) and its supply curve is given by Q=P-5. Assume the world is currently in free trade and that the price under free trade is $7. What is the size of the import quota that, when introduced, would be equivalent (i.e. have the same impact on price and quantity) to the introduction of a $2 specific import tariff?
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT