User Account

All Pages

Supply and demand equations

Assignment Help Microeconomics
Reference no: EM132473084

Suppose that a market has the following supply and demand equations: Demand: QD = 380 - 10p;Supply: QS = 80 + 5p

If the government imposes a specific tax of τ on suppliers,

(1.) What will be the price buyers pay and

(2.) Sellers receive,

(3.) The new quantity, and

(4.) The government revenue from the tax (all as functions of τ)?

(Bonus) What tax level τ maximizes the revenue the government collects from the tax?

Reference no: EM132473084

Questions Cloud

What would be the maximum expected change in gdp : What would be the maximum expected change in gdp if islandia's marginal propensity toconsume (mpc) is 0.75?
What implications would it have for economics policy : Prospect theory suggests that people are hurt more by losses than they are uplifted by gains of a corresponding size.
What is inflation and how does it affect consumers : Was there inflation from 2006 to 2009? If the price changes above occurred for all goods across the economy during the four year period
PSY-1160 Introduction to Psychology Assignment : PSY-1160 Introduction to Psychology Assignment Help and Solution, Lethbridge College - Assessment Writing Service - Why do some young people watch another young
Supply and demand equations : Suppose that a market has the following supply and demand equations: Demand: QD = 380 - 10p;Supply: QS = 80 + 5p
Lagrangian expression for consumer utility maximization : A consumer has the following utility function for goods X and Y: U(X,Y) = 5XY3 + 10
Graph the firm in long run equilibrium : Graph the firm in long run equilibrium. Be sure to label all of the curves and the profit-maximizing price and quantity.
Determine how firms with capital to expand operations : Delta Equity Corporation provides other firms with capital to expand operations. If Delta strictly complies with existing laws, the firm likely will
What are the concepts of scarcity and opportunity cost : What are the concepts of scarcity and opportunity cost. Provide an example of opportunity cost from either your personal or professional experiences.

Reviews

Write a Review

Microeconomics Questions & Answers

  The free rider problem

Question: Explain why the free rider problem makes it difficult for perfectly competitive markets to provide the Pareto efficient level of a public good.

  Failure of the super committee is good thing for economy

Some commentators have argued that the failure of the “Super committee” is good thing for the economy?  Do you agree?

  Case study analysis about optimum resource allocation

Case study analysis about optimum resource allocation: -  Why might you suspect (even without evidence) that the economy might not be able to produce all the schools and clinics the Ministers want? What constraints are there on an economy's productio..

  Fixed cost and vairiable cost

Questions:  :   Which of the following are likely to be fixed costs and which variable costs for a chocolate factory over the course of a month?  Explain your choice.

  Problem - total cost, average cost, marginal cost

Problem - Total Cost, Average Cost, Marginal Cost: -  Complete the following table of costs for a firm.  (Note: enter the figures in the  MC   column  between  outputs of  0 and 1, 1 and 2, 2 and 3, etc.)

  Oligopoly and demand curve problem

Problem based on Oligopoly and demand curve,  Draw and explain the demand curve facing each firm, and given this demand curve, does this mean that firms in the jeans industry do or do not compete against one another?

  Impact of external costs on resource allocation

Explain the impact of external costs and external benefits on resource allocation;  Why are public goods not produced in sufficient quantities by private markets?  Which of the following are examples of public goods (or services)? Delete the incorrec..

  Shifts in demand and movements along the demand curve

Describe the differences between shifts in demand and movements along the demand curve. What are the main factors which can shift the demand curve? Explain why they cause the demand curve to shift. Use examples and draw graphs to support your discuss..

  Article review question

Article Review Question: Read the following excerpts from the article "Fruit, veg costs surge' by Todd, Dagwell, published in the Herald on January 25th 2011 and answer questions below:

  Long-term growth, international trade & globalization

Long-term Growth, International Trade & Globalization:- This question deals with concepts such as long-term growth, international trade and globalization. Questions related to trade deficit, trade surplus, gains from trade, an international trade sce..

  European monetary union (emu) in crisis

"Does the economic bailout of Spain and Greece spell the beginning of the end for the European Monetary Union (EMU)?"

  Development game “settlers of catan”

Read the rules of the game, the overview and the almanac for the Development Game "Settlers of Catan"

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd