Mathematics, 10.03.2021 22:50, zodiacpumpkin1126
Suppose a $ 50 per unit tax on gasoline is place on the seller and
assume that the demand curve for gasoline is perfectly inelastic
and the supply curve is elastic. Assume that the equilibrium price
on gasoline is $100 and the equilibrium quantity of oil before the
I
tax is implemented is 150,000 units. Please answer the following
questions using a supply and demand graph and words.
a. As a result of the $50 per unit tax on gasoline being placed on
the sellers, did the supply curve shift to the left or to the right?
What happened to the equilibrium price and equilibrium
quantity of oil after the $50 per unit tax was implemented? Who
pays most or all of the burden of the $50 tax, the buyer or the
seller, and WHY?
b. Please calculate the tax revenue collected by the government.
Please show your work and calculation.
c. Did the government make the right decision in implementing
the $50 per unit tax on the sellers? Why or why not? Explain.
Answers: 2
Mathematics, 21.06.2019 14:50, alayciaruffin076
Brook states that the distance on the line is 4 units. caleb states that the whole line does not have a distance because it continues on forever. vivian states that the line is 6 units long. which distance did brook measure? which distance did vivian measure?
Answers: 3
Mathematics, 21.06.2019 16:30, tamya12234
If 10 men take 18 days to mow 60 acres of grass, how long will 15 men take to mow 80 acres?
Answers: 3
Suppose a $ 50 per unit tax on gasoline is place on the seller and
assume that the demand curve for...
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