 # ECON 102 ECON102 Homework 12 Answer (Penn State University)

soffix

• \$7.99

ECON 102 Homework 12 Answer (Penn State University)

Question 1

1 / 1 pts

Suppose the demand for a product is given by P = 40 – 4Q. Also, the supply is given by P = 10 + Q. If a \$10 per-unit excise tax is levied on the buyers of a good, then after the tax buyers will pay _________ for each unit of the good.

Question 2

1 / 1 pts

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, then after the tax the sellers will receive _________ for each unit of the good.

Question 3

0 / 1 pts

Suppose the demand for a product is given by P = 30 – 2Q. Also, the supply is given by P = 5 + 3Q. If a \$5 per-unit excise tax is levied on the buyers of a good, what proportion of the tax will be paid by the buyers?

Question 4

1 / 1 pts

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, the deadweight loss created by this tax will be

Question 5

0 / 1 pts

Suppose the demand for a product is given by P = 60 –2Q. Also, the supply is given by P = 10 + 3Q. If a \$10 per-unit excise tax is levied on the buyers of a good, consumer surplus is equal to

Question 6

1 / 1 pts

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, producer surplus is equal to

Question 7

1 / 1 pts

Suppose the demand for a product is given by P = 40 – 4Q. Also, the supply is given by P = 10 + Q. If a \$10 per-unit excise tax is levied on the buyers of a good, government revenue is equal to

Question 8

0 / 1 pts

Suppose the demand for a product is given by P = 30 – 2Q. Also, the supply is given by P = 5 + 3Q. If a \$5 per-unit excise tax is levied on the buyers of a good, after the tax, the total amount of tax paid by the consumers is

Question 9

0 / 1 pts

Suppose the demand for a product is given by P = 60 –2Q. Also, the supply is given by P = 10 + 3Q. If a \$10 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

Question 10

0 / 1 pts

Suppose the demand for a product is given by P = 30 – 2Q. Also, the supply is given by P = 5 + 3Q. If a \$5 per-unit excise tax is levied on the buyers of a good, after the tax, the total quantity of the good sold is

Sale

Unavailable

Sold Out