Suppose a tax of $3 is imposed on each new garden hose that is sold, resulting in a deadweight loss of $22,500. the supply curve is a typical upward-sloping straight line, and the demand curve is a typical downward-sloping straight line. before the tax was imposed, the equilibrium quantity of garden hoses was 100,000. we can conclude that the equilibrium quantity of garden hoses after the tax is imposed is

Equilibrium quantity of garden hoses after the tax is imposed is 85000.

Explanation:

Given that,

Dead weight Loss = $22500

Tax amount per unit (t) = $3

Equilibrium quantity before tax, = 1,00,000 units

Equilibrium quantity after tax, = ?

Dead weight Loss =

22500 = 0.5 × 3 × (100000 - )

= 85000 units

∴ Equilibrium quantity of garden hoses after the tax is imposed is 85000.

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know