Illustrates the market for internet services

Assignment Help Econometrics

Reference no: EM13174445

The table below illustrates the market for Internet services. Use a demand-supply

graph to answer the following questions.

Price Q Demanded Q Supplied

(dollars per month) (units per month)

0 30 0

10 25 10

20 20 20

30 15 30

40 10 40

50 5 50

60 0 60

a. What is the market price of Internet services?__________

b. If the government imposes a tax of $15 a month on the market, what price would the buyer of an Internet service pay?__________

c. What price would the seller of the Internet service receive?____________________

d. Does the buyer or the seller pay more of the tax? Explain

e. What is the tax revenue collected by the government?__________

f. What is the deadweight loss created by the tax?__________

Reference no: EM13174445

Questions Cloud

What is the diluted concentration : portion of that solution is diluted by adding 165 mL of water. What is the final concentration? Assume the volumes are additive.

State the standard electrode potentials : the standard electrode potentials calculate the standard free energy (kJ) for the given reaction.

State one major and one minor organic product : Dehydration of 2-methyl-2-pentanol forms one major and one minor organic product. Draw the structures, including hydrogen atoms

Explain an electrochemical cell : Describe an electrochemical cell tthat would have the following net equation, by answering the following questions.

Illustrates the market for internet services : If the government imposes a tax of $15 a month on the market, what price would the buyer of an Internet service pay?__________ What price would the seller of the Internet service receive?____________________

State which is a straight line with a slope : A reaction of the form aA---->Products gives a plot of ln[A] vs time (in seconds) which is a straight line with a slope of -7.35e-3. Assuming [A]0=0.0100M,

State sodium methoxide is a weaker base than butyllithium : Sodium methoxide is a weaker base than butyllithium (the base commonly used in the Wittig reaction). Suggest a reason why a weaker base

Compute the solubility of silver sulfate in water : calculate the solubility of silver sulfate in water at 25 degree celcius, express answer in molarity; and how would the solubility of silver sulfate change

State what product are expected in the ethoxide-promoted : What product(s) are expected in the ethoxide-promoted Î²-elimination reaction of 2-bromo-2,3-dimethylbutane? Omit ions, salts

User Account

All Pages