do fast i will 15 upvotes plz do fast don't use chatgpt answer. QUESTION 14The demand and supply schedules for a given product are shown in the following tablePrice(dollar)QuantitysuppliedQuantitysupplied$4504540104035203530303025402520502015601510701058050900Reference: Ref 2-3The government impose an excise tax of $15 per unit sold. What is the tax revenue received by the government?A. $225B. $250C. $300D. $150E. $75

The amount of revenue gotten form taxing as much as government to get is the product of multiplying…

Answered: QUESTION 14 The demand and supply…

Principles of Economics (MindTap Course List)

8th Edition

ISBN:9781305585126

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter12: The Design Of The Tax System

Section: Chapter Questions

Problem 5PA

See similar textbooks

Similar questions

5) The following graph shows the effect of a per-ticket tax on plane tickets from Boston to Tampa. Use the graph to answer questions 5 to 10. Price (P) of airline tickets (in dollars per ticket) OO 230 200 190 2850 3000 Based on the graph, which of the following statements is true? Swith tax D Sno no tax Figure 14 Image author created Quantity (Q) of airline tickets (thousands per day) The tax is imposed on passengers (i.e., the demand side of the market for plane tickets). Based on the graph, we cannot determine whether the tax is imposed on the airlines or on passengers. The tax is imposed on airlines (i.e., the supply side of the market for plane tickets). The tax is imposed on both sides of the market for plane tickets.
9) The following graph shows the effect of a per-ticket tax on plane tickets from Boston to Tampa. Use the graph to answer questions 5 to 10. $30 $20 $10 Price (P) of airline tickets (in dollars per ticket) How much of the per-ticket tax is paid by passengers? $40 230 200 190 2850 3000 Swith tax Sno tax D Figure 14 Image author created Quantity (Q) of airline tickets (thousands per day)
6) The following graph shows the effect of a per-ticket tax on plane tickets from Boston to Tampa. Use the graph to answer questions 5 to 10. O $10 $30 $40 Price (P) of airline tickets (in dollars per ticket) What is the amount of the tax per ticket from Boston to Tampa? $20 230 200 190 2850 3000 with tax D Sno tax Figure 14 Image author created Quantity (Q) of airline tickets (thousands per day)
Question 6 Figure 8-3 Price ww P₂ P₁ 0 -Tax- P3ACP1 ABC P2DAP3 A P1CDP2 9₁ Refer to Figure 8-3. What area represents the amount of tax revenue received by the government? B 92 Quantity
solve 5 min this is the answer plz write hand written Here, the given graph shows the price for buyers and sellers at the market quantity, with and without tax. According to the given information, after tax buyer's price is $15, while seller's price is $13, which implies the tax of $2 ($15-$13). At this market price, quantity sold is 3,700 units, therefore, total tax revenue would be: =Tax ratexquantity sold =$2×3,700 =$7,400 Hence, the correct option is: b.
INCREASE IN TAX ON ALCOH OL AND TOBACCO Specific excise duty on alcohelle bever ges and tobacco products will increase by 8% INCREASES WIT MOUT BEER 14c per 340ml can UNFORTIFIED WNE 56e per 7 50mi bottle FORTIFIED WINE 44c per 750ml bottle SPARKLING WINE 86c per 750ml bottle APPLE BEER AND ALCOHOLIC FRUIT DRINKS 14c per 840ml can STRONG BEVERAGE/ORINKS RS,50 per 750ml bottle 1 Excise duty is also known as 2 In your opinion, do you think it was the right decision to increase excise taxes? Motivate your answer.
20 10 -demand - uey with ta How much revenue will the government gain if they put a $6 tax on this product? Do not write the dollar symbol ($) because that confuses the computer. Write just a number. 16
PA P3 $ P2 P₁ 0 ош A Di E 93 B 92 Quantity U 91 Demand Suppose that supply is perfectly elastic and the price of this good is initially in equilibrium at P1. If an excise tax raises the price from P1 to P2, the excess burden of the tax is area A) P3AP4. B) P1FBP2. _C) P1CBP2._____D) BFC. E) P2BP3.
GRAPH ($) Price 90 $90.00 80 70 60 50 $50.00 40 30 20 10 Surplus Measures off SETTINGS S Tax imposed on: Supply Demand Excise Tax (0-$20) Demand Perfectly Inelastic Supply 0.00 Reset Relatively Elastic Relatively Elastic Elastic Perfectly Elastic Perfectly stic D CALCULATIONS 0 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 19.0 Quantity (thousands per week) Price Paid Quantity No Tax $50.00 4,000 With Tax $50.00 4,000
What is the formula/ way to include tax into these equations. I’m not sure how to graph
Price (P) S2 (after tax) S; (before tax) Таx $35 $30 $25 $20 D 90 100 Quantity (Q) The diagram above shows a market before and after an excise tax has been levied by the government. The diagram indicates the amount of the tax is: Select one: а. $20 b. $5 C. $35 d. $10
Question 20 Figure #2 price Dufter t 10 20 50 Refer to Figure #2. When tax per unit is imposed, what is total tax revenue collected by the government? $50.00 $100 $150 $200

SEE MORE QUESTIONS

Recommended textbooks for you

Principles of Economics (MindTap Course List)

Economics

ISBN:

9781305585126

Author:

N. Gregory Mankiw

Publisher:

Cengage Learning

Principles of Economics, 7th Edition (MindTap Cou…

Economics

ISBN:

9781285165875

Author:

N. Gregory Mankiw

Publisher:

Cengage Learning

Principles of Microeconomics (MindTap Course List)

Economics

ISBN:

9781305971493

Author:

N. Gregory Mankiw

Publisher:

Cengage Learning

Principles of Economics (MindTap Course List)

Economics

ISBN:

9781305585126

Author:

N. Gregory Mankiw

Publisher:

Cengage Learning

Principles of Economics, 7th Edition (MindTap Cou…

Economics

ISBN:

9781285165875

Author:

N. Gregory Mankiw

Publisher:

Cengage Learning

Principles of Microeconomics (MindTap Course List)

Economics

ISBN:

9781305971493

Author:

N. Gregory Mankiw

Publisher:

Cengage Learning

Managerial Economics: Applications, Strategies an…

Economics

ISBN:

9781305506381

Author:

James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:

Cengage Learning

SEE MORE TEXTBOOKS