Demand and supply for an imaginary good called pinckney

Assignment Help Business Economics

Reference no: EM131238780

The following graph represents the demand and supply for an imaginary good called a pinckney. The black point (plus symbol) indicates the pre-tax equilibrium. Suppose the government has just decided to impose a tax on this market; the grey points (star symbol) indicate the after-tax scenario..

1205_media_f31_f311324a-8167-4cae-8587-0b578ee0b90a_phpUQeLta.png

Complete the following table, given the information presented on the graph.

Result	Value
Per-unit tax	$
Price consumers pay after tax	$
Equilibrium quantity after tax	$

In the following table, indicate which of the previous graph’s areas corresponds to each concept. Check all that apply.

Concept	A	B	C	D	E	F
Producer surplus after the tax is imposed
Consumer surplus after the tax is imposed
Deadweight loss after the tax is imposed

Reference no: EM131238780

Questions Cloud

Short-run policies have affected prices consumers pay : During the spring and summer of 2008 when gasoline prices were rising? quickly, politicians in several countries proposed a moratorium on some or all gasoline taxes to help consumers. How would these? short-run policies have affected the prices consu..

The absolute value of the elasticity of the demand : Now suppose that the city doubles the fee from $8 to $16. Let's determine what effect this will have on revenue for the city. To be conservative, let's assume that the absolute value of the elasticity of the demand for car trips in central London is ..

What the NPV of Pauls operation : Paul invest $700 in the manufacturing of lights. during first two years, he earns $1700 each year. after that, the operation folds and he earns nothing. Paul's discount rate is 20%. what's the NPV of Paul's operation?

What is variable cost of manufacturing six lutes-fixed cost : Devi has a shop in Imre where she makes lutes. making 4 lute costs $1400. On the other hand, it costs $2000 to make 7 lutes. Devi's discount rate is 15%. What is the variable cost of manufacturing 6 lutes? fixed cost?

Demand and supply for an imaginary good called pinckney : The following graph represents the demand and supply for an imaginary good called a pinckney. The black point (plus symbol) indicates the pre-tax equilibrium. Suppose the government has just decided to impose a tax on this market; the grey points (st..

Given the payoff matrix to this advertising game : Two firms compete by advertising. Given the payoff matrix to this advertising game, identify each firm's best response to its rival's possible actions. Does either firm have a dominant strategy? What is the Nash equilibrium?

Firm conducted random survey of community residents : A consulting firm conducted a random survey of community residents, describing a planned riverside park and then asking each respondent the question: “What is the most that you would be willing to pay to have this park built along the river?” Do you ..

All of the numbered diamonds and spades from deck of cards : Suppose that all of the numbered diamonds and spades from a deck of cards (excluding Ace, King, Queen, and Jack) are used to set up a market. The diamonds determine demands, e.g. a 10 represents a buyer with a redemption value of $10. Similarly, the ..

Deposits earn interest compounded annually : You open a bank account, making a deposit of $500 now and deposits of $1,000 every other year. What is the total balance at the end of 10 years from now if your deposits earn 4% interest compounded annually?

User Account

All Pages