Microeconomics help needed
User Generated
whircnffvba
Economics
Description
Suppose the market demand and supply curves are given by the equations:
Qd=200-P
Qs=3P
Suppose that a tax of T is placed on buyers so that the demand curve becomes:
Qd=200-(P+T)
If T=40, how much tax revenue will be collected from this tax?
User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.
This question has not been answered.
Create a free account to get help with this and any other question!
24/7 Homework Help
Stuck on a homework question? Our verified tutors can answer all questions, from basic math to advanced rocket science!
Most Popular Content
Microeconomics Problem Sets
1. Suppose you win free tickets to a movie plus all you can eat at the snack bar for free. Would there be a cost to you to ...
Microeconomics Problem Sets
1. Suppose you win free tickets to a movie plus all you can eat at the snack bar for free. Would there be a cost to you to attend this movie? Explain.2.Suppose we can divide all the goods produced by an economy into two types: consumption goods and capital goods. Capital goods, such as machinery, equipment, and computers, are goods used to produce other goods (i.e., if a country produces more capital goods this year, this country can produce more consumption goods in the next few years) a. Use a production possibilities frontier graph to illustrate the trade-off to an economy between producing consumption goods and producing capital goods. Is it likely that the production possibilities frontier in this situation would be a straight line or bowed out? Briefly explain. b. Suppose a technological advance occurs that affects the production of capital goods but not consumption goods. Show the effect on the production possibilities frontier. c. Suppose that country A and country B currently have identical production possibilities frontiers but that country A devotes only 5 percent of its resources to producing capital goods over each of the next 10 years, whereas country B devotes 30 percent. Which country is likely to experience more rapid economic growth in the future? Illustrate using a production possibilities frontier graph. Your graph should include production possibilities frontiers for country A today and in 10 years and production possibilities frontiers for country B today and in 10 years.3. Show in a diagram the effect on the demand curve, the supply curve, the equilibrium price, and the equilibrium quantity of each of the following events:a. The market for newspapers in your town. The salaries of journalists go up.b. The market for New York Giants cotton T-shirts. The Giants win the Super Bowl. c. The market for donuts. People realize how fattening donuts are.d. The market for round-trip flights to Cancun, Mexico. Mexican all-inclusive resorts offer discounts to US college students AND the cost of oil and fuel increases.4. In the U.S., the demand for pick-up trucks is P = 140 – 2.5Qd and the supply of pick-up trucks is P = 5Qs – 100 where P is the price of a pick up truck in thousands of dollars (when a truck costs $20,000, P = 20) and quantity is measured in millions of trucks.a. In a graph, plot the demand and supply curves.b. Using algebra, find the equilibrium price and quantity. Then clearly indicate the equilibrium price and quantity in your graph.c. Suppose the U.S. Department of Transportation imposes costly regulation on manufacturers that cause them to reduce supply by half at any given price. Calculate and plot the new supply function and indicate the new equilibrium quantity and price in your diagram.
5 pages
Economics
a) Average monthly fee that equals demand to zero b) Average monthly fee that equals the supply to zero e) If QD = 3500 � ...
Economics
a) Average monthly fee that equals demand to zero b) Average monthly fee that equals the supply to zero e) If QD = 3500 – 10P the new equilibrium ...
4 pages
ECO203 Ashford Week 1 Directing Function of Prices and Mixed Economy Quiz
Which of the following is LEAST likely to be a public good? When the supply of a product increases but the demand for the ...
ECO203 Ashford Week 1 Directing Function of Prices and Mixed Economy Quiz
Which of the following is LEAST likely to be a public good? When the supply of a product increases but the demand for the product remains
Keiser University Currency Exchange Rate Hedging Discussion
A US importer who owes a Belgian company 500,000 Euros payable in 30 days from today expects that the US Dollar will weake ...
Keiser University Currency Exchange Rate Hedging Discussion
A US importer who owes a Belgian company 500,000 Euros payable in 30 days from today expects that the US Dollar will weaken during this period. What would you advise the importer to do? What would happen if the imported took your advice yet instead of the dollar weakening, the dollar actually strengthened?
Similar Content
FIN 403 SEU Types of Investments & Currency Fluctuations Worksheet
College of Administrative and Financial Sciences
Assignment 1
Academic Year: 2nd-2021-2022-1442/1443 H
Course Name: Inve...
Grossmont College Finance The Seven Up Company Acquisition Paper
Write a two-page paper that provides a methodology that could be followed to actually solve the case. The strategy paper n...
Finance Discussion
FINANCIAL PLANNING
•
1
Patrick Ochoa
MondayJan 3 at 9:58pm
Manage Discussion Entry
The purpose of a financial plan i...
ECON 201 Saudi Electronic University Macro Economics Questions
...
ECON 201 Southeastern University What Is the Financial System Worksheet
College of Administrative and Financial Sciences
Assignment-2
Deadline: 01/08/2021 @ 23:59
Course Name: Macroeconomics
S...
ECON102 Suffolk University Macroeconomic Study Case Questions
Please answer all these questions carefully and follow the instructions. The second document, Economics 102, all the answe...
Financial News Article Case Study
In the New York Times article, “The Stock Market’s Covid Pattern: Faster Recovery from Each Panic," Russel and Hadi (2...
Economics Question
A multiplant monopoly exists when monopolistic enterprises spread their output into many manufacturing plants, each with i...
Shifting Production
...
Related Tags
Book Guides
The President is Missing
by James Patterson, Bill Clinton
The BFG
by Roald Dahl
Anthem
by Ayn Rand
Underground A Human History of the Worlds Beneath our Feet
by Will Hunt
Enders Game
by E. M. Forster
The Secret Life of Bees
by Sue Monk Kidd
The Atlantis Gene
by S. A. Beck
Silas Marner
by George Eliot
East of Eden
by John Steinback
Get 24/7
Homework help
Our tutors provide high quality explanations & answers.
Post question
Most Popular Content
Microeconomics Problem Sets
1. Suppose you win free tickets to a movie plus all you can eat at the snack bar for free. Would there be a cost to you to ...
Microeconomics Problem Sets
1. Suppose you win free tickets to a movie plus all you can eat at the snack bar for free. Would there be a cost to you to attend this movie? Explain.2.Suppose we can divide all the goods produced by an economy into two types: consumption goods and capital goods. Capital goods, such as machinery, equipment, and computers, are goods used to produce other goods (i.e., if a country produces more capital goods this year, this country can produce more consumption goods in the next few years) a. Use a production possibilities frontier graph to illustrate the trade-off to an economy between producing consumption goods and producing capital goods. Is it likely that the production possibilities frontier in this situation would be a straight line or bowed out? Briefly explain. b. Suppose a technological advance occurs that affects the production of capital goods but not consumption goods. Show the effect on the production possibilities frontier. c. Suppose that country A and country B currently have identical production possibilities frontiers but that country A devotes only 5 percent of its resources to producing capital goods over each of the next 10 years, whereas country B devotes 30 percent. Which country is likely to experience more rapid economic growth in the future? Illustrate using a production possibilities frontier graph. Your graph should include production possibilities frontiers for country A today and in 10 years and production possibilities frontiers for country B today and in 10 years.3. Show in a diagram the effect on the demand curve, the supply curve, the equilibrium price, and the equilibrium quantity of each of the following events:a. The market for newspapers in your town. The salaries of journalists go up.b. The market for New York Giants cotton T-shirts. The Giants win the Super Bowl. c. The market for donuts. People realize how fattening donuts are.d. The market for round-trip flights to Cancun, Mexico. Mexican all-inclusive resorts offer discounts to US college students AND the cost of oil and fuel increases.4. In the U.S., the demand for pick-up trucks is P = 140 – 2.5Qd and the supply of pick-up trucks is P = 5Qs – 100 where P is the price of a pick up truck in thousands of dollars (when a truck costs $20,000, P = 20) and quantity is measured in millions of trucks.a. In a graph, plot the demand and supply curves.b. Using algebra, find the equilibrium price and quantity. Then clearly indicate the equilibrium price and quantity in your graph.c. Suppose the U.S. Department of Transportation imposes costly regulation on manufacturers that cause them to reduce supply by half at any given price. Calculate and plot the new supply function and indicate the new equilibrium quantity and price in your diagram.
5 pages
Economics
a) Average monthly fee that equals demand to zero b) Average monthly fee that equals the supply to zero e) If QD = 3500 � ...
Economics
a) Average monthly fee that equals demand to zero b) Average monthly fee that equals the supply to zero e) If QD = 3500 – 10P the new equilibrium ...
4 pages
ECO203 Ashford Week 1 Directing Function of Prices and Mixed Economy Quiz
Which of the following is LEAST likely to be a public good? When the supply of a product increases but the demand for the ...
ECO203 Ashford Week 1 Directing Function of Prices and Mixed Economy Quiz
Which of the following is LEAST likely to be a public good? When the supply of a product increases but the demand for the product remains
Keiser University Currency Exchange Rate Hedging Discussion
A US importer who owes a Belgian company 500,000 Euros payable in 30 days from today expects that the US Dollar will weake ...
Keiser University Currency Exchange Rate Hedging Discussion
A US importer who owes a Belgian company 500,000 Euros payable in 30 days from today expects that the US Dollar will weaken during this period. What would you advise the importer to do? What would happen if the imported took your advice yet instead of the dollar weakening, the dollar actually strengthened?
Earn money selling
your Study Documents