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

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