5.) GRAPH. Qd= 104-2p and a Qs= -24+8p. If the government imposes a fixed price of...

5.) GRAPH. Qd= 104-2p and a Qs= -24+8p. If the government imposes a fixed price of 15 dollars how will this market be affected? Explain.

6.)How has this price imposition of 15 dollars affect the previous consumer surplus? Whom is benefiting from this price imposition?

7.)List the determinants of demand and supply.

Expert Solution

Rahul Sunny answered 2 years ago

Demand: QD = 100 - 2p Supply: QS = 3p If government imposes a 10% ad...

Demand: QD = 100 - 2p Supply: QS = 3p If government imposes a 10% ad valorem tax to be collected from sellers, what is the price consumers will pay? How much tax revenue is collected?

Market demand is QD= 50-P and the market supply is QS=P. The government imposes a percentage...

Market demand is QD= 50-P and the market supply is QS=P. The government imposes a percentage tax of 30%. What is the new equilibrium price and quantity? Select one: a. P*=25; Q*=25 b. P*=20; Q*=30 c. P*=30; Q*=20 d. P*=30; Q*=30 e. None of the above

Suppose market demand and supply are given by Qd= 400-12P and Qs= -20 + 8P. If...

Suppose market demand and supply are given by Qd= 400-12P and Qs= -20 + 8P. If a price floor of $20.00 is imposed, there will be a surplus of 10 units. there will be neither a surplus or shortage. there will be a shortage of 16 units. None of the above choices makes any sense in this case.

Using the equations shown below, answer the following questions. QD = 100 – 2P QS = –20 + 2P

Using the equations shown below, answer the following questions. QD = 100 – 2P QS = –20 + 2P a. What is the equilibrium price and quantity in this market? Show it graphically. b. Calculate the consumer surplus and producer surplus? Show them graphically. c. Assuming a tax of $10 is imposed on the seller side, what is the equilibrium price and quantity after the tax? d. Calculate the deadweight loss and total surplus and show them graphically.

QUESTION 6 Assume Qd=10-2P and Qs=P. What is the elasticity of SUPPLY if price increases from...

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Market demand is given as QD = 50 – 2P. Market supply is given as QS...

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1-Given the following two equations: Qd = 150 – 3P Qs = 70 + 2P A-...

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A market is described by the following supply-and-demand curves: QS = 2P QD = 300−P The equilibrium price is_______and the equilibrium quantity is________. Suppose the government imposes a price ceiling of $90. This price ceiling is [binding/not binding], and the market price will be______. The quantity supplied will be ______ , and the quantity demanded will be_______. Therefore, a price ceiling of $90 will result in [a shortage/ a surplus/ neither a shortage nor surplus]. Suppose the government imposes a...

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