Illustrate what is revenue raised by government through tax

Assignment Help Business Economics

Reference no: EM1370946

Q. Suppose that demand curve for a particular commodity is QD=1,000-10P. Marginal costs of a supplier are constant and amount to 10. Market for this commodity is characterized by perfect competition. Government steps in and levies a unit tax of 10 on this commodity.

Illustrate what is revenue raised by government through this tax.

Reference no: EM1370946

Questions Cloud

What is the volume of the interior of the house : A major-league pitcher can throw a baseball in excess of 48.7m/s. If a ball is thrown horizontally at this speed, how much will it drop by time it reaches the catcher who is 15 m away from the point of free.

Find expected profit maximizing output : assume equilibrium price in a perfectly competitive market is $100 and within this market, a typical firms total cost curve is summarised. Find expected profit maximizing output.

Create a class which holds account number : Create a class named Loan which holds the account number, name of account holder, amount borrowed, term, and interest rate. Include methods to set values for each data field.

What is change in the momentum of the tennis ball : A tennis ball of mass 57 g travels with velocity m/s toward a wall. After bouncing off the wall, the tennis ball is observed to be traveling with velocity m/s.

Illustrate what is revenue raised by government through tax : Market for this commodity is characterized by perfect competition. Government steps in and levies a unit tax of 10 on this commodity. Illustrate what is revenue raised by government through this tax.

Contrast the economics of the concentrate business : Contrast the economics of the concentrate business to that of the bottling business and Why is the profitability so different?

What is the current flowing in the primary : Three charges, +q, +2q, and +4q, are linked by strings (Assume that the middle charge is fixed in space and the other 2 charges are held there by the tension alone.)

Determine the bond price : Assume a $1,000 par-value bond was issued last year with a promised yearly rate of return (yield) of 6% when market interest rates on comparable securities were also 6%.

Who benefits from a tariff or quota also who loses : Who benefits from a tariff or quota. Who loses. Illustrate what are positives and negatives of protectionist trade policies on federal government's part. Which policy is best right now.

User Account

All Pages