Question 1

Figure 6-5 
-Refer to Figure 6-5.Suppose a $3 per-unit tax is imposed on the sellers of this good.What price will buyers pay for the good after the tax is imposed?

Accepted Answer

The answer of Figure 6-5 
-Refer to Figure 6-5.Suppose a...

Question 2

Scenario 6-1
Suppose that demand in the market for good X is given by the equation  and that supply in the market for good X is given by the equation 
-The following table shows the demand and supply schedules in a particular market.
  If the government sets a price floor $2 above the equilibrium price,how many units will be sold in this market?

Accepted Answer

The answer of Scenario 6-1
Suppose that demand in the market...

Question 3

Scenario 6-1
Suppose that demand in the market for good X is given by the equation  and that supply in the market for good X is given by the equation 
-Refer to Scenario 6-1.If the government set a price floor at $13,would there be a shortage or surplus,and how large would be the shortage/surplus?

Accepted Answer

The answer of Scenario 6-1
Suppose that demand in the market...

Question 4

Scenario 6-1
Suppose that demand in the market for good X is given by the equation  and that supply in the market for good X is given by the equation 
-Refer to Scenario 6-1.If the government set a price ceiling at $8,would there be a shortage or surplus,and how large would be the shortage/surplus?

Accepted Answer

The answer of Scenario 6-1
Suppose that demand in the market...

Question 5

Scenario 6-1
Suppose that demand in the market for good X is given by the equation  and that supply in the market for good X is given by the equation 
-Refer to Scenario 6-1.What are the equilibrium price and quantity in the market for good X?

Accepted Answer

The answer of Scenario 6-1
Suppose that demand in the market...

Question 6

Figure 6-5 
-Refer to Figure 6-5.Suppose a $3 per-unit tax is imposed on the sellers of this good.How much is the burden of this tax on the buyers in this market?

Accepted Answer

The answer of Figure 6-5 
-Refer to Figure 6-5.Suppose a...

Question 7

Figure 6-5 
-Refer to Figure 6-5.Suppose a $4 per-unit tax is imposed on the sellers of this good.How many units of this good will be sold after the tax is imposed?

Accepted Answer

The answer of Figure 6-5 
-Refer to Figure 6-5.Suppose a...

Question 8

If the demand curve is more price elastic than the supply curve in a particular market,will the buyers or the sellers bear a larger burden of a per-unit tax imposed on the market?

Accepted Answer

The answer of If the demand curve is more price...

Question 9

Scenario 6-1
Suppose that demand in the market for good X is given by the equation  and that supply in the market for good X is given by the equation 
-Refer to Scenario 6-1.If the government set a price ceiling at $12,would there be a shortage or surplus,and how large would be the shortage/surplus?

Accepted Answer

The answer of Scenario 6-1
Suppose that demand in the market...

Question 10

Scenario 6-1
Suppose that demand in the market for good X is given by the equation  and that supply in the market for good X is given by the equation 
-Refer to Scenario 6-1.If the government set a price floor at $7,would there be a shortage or surplus,and how large would be the shortage/surplus?

Accepted Answer

The answer of Scenario 6-1
Suppose that demand in the market...

Question 11

Figure 6-5 
-Refer to Figure 6-5.Suppose a $3 per-unit tax is imposed on the sellers of this good.What is the effective price that sellers will receive for the good after the tax is imposed?

Accepted Answer

The answer of Figure 6-5 
-Refer to Figure 6-5.Suppose a...

Question 12

Figure 6-5 
-Refer to Figure 6-5.Suppose a $3 per-unit tax is imposed on the sellers of this good.How much is the burden of this tax on the sellers in this market?

Accepted Answer

The answer of Figure 6-5 
-Refer to Figure 6-5.Suppose a...

Question 13

If the supply curve is more price elastic than the demand curve in a particular market,will the buyers or the sellers bear a larger burden of a per-unit tax imposed on the market?

Accepted Answer

The answer of If the supply curve is more price...

Quiz 6: Supply,demand,and Government Policies

Figure 6-5 -Refer to Figure 6-5.Suppose a $3 per-unit tax is imposed on the sellers of this good.What price will buyers pay for the good after the tax is imposed?

Scenario 6-1 Suppose that demand in the market for good X is given by the equation and that supply in the market for good X is given by the equation -Refer to Scenario 6-1.If the government set a price floor at $13,would there be a shortage or surplus,and how large would be the shortage/surplus?

Scenario 6-1 Suppose that demand in the market for good X is given by the equation and that supply in the market for good X is given by the equation -Refer to Scenario 6-1.If the government set a price ceiling at $8,would there be a shortage or surplus,and how large would be the shortage/surplus?

Scenario 6-1 Suppose that demand in the market for good X is given by the equation and that supply in the market for good X is given by the equation -Refer to Scenario 6-1.What are the equilibrium price and quantity in the market for good X?

Figure 6-5 -Refer to Figure 6-5.Suppose a $3 per-unit tax is imposed on the sellers of this good.How much is the burden of this tax on the buyers in this market?

Figure 6-5 -Refer to Figure 6-5.Suppose a $4 per-unit tax is imposed on the sellers of this good.How many units of this good will be sold after the tax is imposed?

If the demand curve is more price elastic than the supply curve in a particular market,will the buyers or the sellers bear a larger burden of a per-unit tax imposed on the market?

Scenario 6-1 Suppose that demand in the market for good X is given by the equation and that supply in the market for good X is given by the equation -Refer to Scenario 6-1.If the government set a price ceiling at $12,would there be a shortage or surplus,and how large would be the shortage/surplus?

Scenario 6-1 Suppose that demand in the market for good X is given by the equation and that supply in the market for good X is given by the equation -Refer to Scenario 6-1.If the government set a price floor at $7,would there be a shortage or surplus,and how large would be the shortage/surplus?

Figure 6-5 -Refer to Figure 6-5.Suppose a $3 per-unit tax is imposed on the sellers of this good.What is the effective price that sellers will receive for the good after the tax is imposed?

Figure 6-5 -Refer to Figure 6-5.Suppose a $3 per-unit tax is imposed on the sellers of this good.How much is the burden of this tax on the sellers in this market?

If the supply curve is more price elastic than the demand curve in a particular market,will the buyers or the sellers bear a larger burden of a per-unit tax imposed on the market?