Determine the total tax paid by producer

Reference no: EM13173278

1. Suppose the demand for a product is given by P = 50 - Q. Also, the supply is given by P = 10 + 3Q. If a $12 per unit excise tax is levied on the buyers of a good, after the tax, the total quantity of the good sold is

A) 6
B) 10
C) 31
D) 7

E) None of these

2. Suppose the demand for a product is given by P = 100 - 2Q. Also, the supply is given by P = 20 + 6Q. If a $8 per unit excise tax is levied on the buyers of a good, after the tax, the total amount of tax paid by the producers is

A) 81
B) 72
C) 54
D) 4

E) None of these

3. Suppose the demand for a product is given by P = 100 - 2Q. Also, the supply is given by P = 20 + 6Q. If an $8 per unit excise tax is levied on the buyers of a good, government revenue is equal to:

A) 81
B) 72
C) 243
D) 4
E) None of these

Reference no: EM13173278

Questions Cloud

Describe the influence that the law has on pricing decisions : Describe the influence that the law has on pricing decisions and how would you respond to the R&D manager's statement about Discounted Cash Flow methods? Do you agree or disagree? Explain.

What is the structure of the original unknown compound : An unknown compound with a molecular formula of C8H18 reacts with chlorine in the presence of light and heat. From the reaction, only one compound with the formula C8H17Cl can be isolated. What is the structure of the original unknown compound?

How many moles of na2so4 are required : Sodium sulfate dissolves as follows: Na2SO4(s) → 2Na+(aq) + SO42- (aq). How many moles of Na2SO4 are required to make 1.0 L of solution in which the Na concentration is 0.10 M?

Explain what the molarity of h2so4 : what the molarity of H2SO4 if 15.85 mL of the solution is needed to neutralize 1.00g NaHCO3 molar mass 84.01 g/mol

Determine the total tax paid by producer : Suppose the demand for a product is given by P = 50 - Q. Also, the supply is given by P = 10 + 3Q. If a $12 per unit excise tax is levied on the buyers of a good, after the tax,what is the total quantity of the good sold.

Determine the concentration of the sugar solution : have 2.50 ml of 4.00 M sugar solution. You add 217.3 ml of water to this solution. determine the concentration of the sugar solution after the water has been added.

State only hydrogen gas would be left as a product : only hydrogen gas would be left as a product b. the equilibrium would shift to the left c. the equilibrium would shift to the right d. the equilibrium would remain unchanged

State factors that affect reaction rate : All of the following are factors that affect reaction rate EXCEPT a. density of reactants b. presence of a catalyst

Calculate the ph for hclo : Calculate the pH for each of the following cases in the titration of 50.0 mL of 0.110 M HClO(aq) with 0.110 M KOH(aq).

User Account

All Pages