Figure 4-9 Price per pack $12 Tax Demand Quantity of cigarettes (1000s of packs) e 4-9 shows the market for cigarettes. The government plans to impose a unit tax in this market. 40 Supply 70
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- Under which circumstances does line tax burden fall entirely on consumers?The graph shows the market for backpacks. Price (dollars per backpack) 22- 20+ 18- 16- 14- 12+ 10- 8- မှာ 0 100 S D 200 300 400 500 600 700 800 Quantity (backpacks per day) If a sales tax of $4 a backpack is imposed, calculate the tax burden. The tax burden is $ Type a day.Why does the government ass excise taxes to certain products?
- The govemment is considering imposing taxes onthe sellers of certain classes of products. The first tax they are considering is a tax on 2% milk. The second is a tax on all dairy products. The third is a tax on all food products. Which of these three taxes would you expect to have the largest impact on the sticker prices of the taxed products? Explain.Follow up question regarding elasticities and taxes.Question 6 Figure 8-3 Price ww P₂ P₁ 0 -Tax- P3ACP1 ABC P2DAP3 A P1CDP2 9₁ Refer to Figure 8-3. What area represents the amount of tax revenue received by the government? B 92 Quantity
- 20 10 -demand - uey with ta How much revenue will the government gain if they put a $6 tax on this product? Do not write the dollar symbol ($) because that confuses the computer. Write just a number. 16Price (dollars per tire) S + tax 70 60 50 40 D 30 20 10 10 20 30 40 50 60 70 Quantity (millions of tires per month) The figure above shows the market for tires. The government has imposed a tax on of the tax. tires, and the buyers pay A) $50 B) $60 C) $20 D) $10what will happen to the equilibrium of mobile phones of government announces higher sales taxes on mobile phones?
- INCREASE IN TAX ON ALCOH OL AND TOBACCO Specific excise duty on alcohelle bever ges and tobacco products will increase by 8% INCREASES WIT MOUT BEER 14c per 340ml can UNFORTIFIED WNE 56e per 7 50mi bottle FORTIFIED WINE 44c per 750ml bottle SPARKLING WINE 86c per 750ml bottle APPLE BEER AND ALCOHOLIC FRUIT DRINKS 14c per 840ml can STRONG BEVERAGE/ORINKS RS,50 per 750ml bottle 1 Excise duty is also known as 2 In your opinion, do you think it was the right decision to increase excise taxes? Motivate your answer.5) The following graph shows the effect of a per-ticket tax on plane tickets from Boston to Tampa. Use the graph to answer questions 5 to 10. Price (P) of airline tickets (in dollars per ticket) OO 230 200 190 2850 3000 Based on the graph, which of the following statements is true? Swith tax D Sno no tax Figure 14 Image author created Quantity (Q) of airline tickets (thousands per day) The tax is imposed on passengers (i.e., the demand side of the market for plane tickets). Based on the graph, we cannot determine whether the tax is imposed on the airlines or on passengers. The tax is imposed on airlines (i.e., the supply side of the market for plane tickets). The tax is imposed on both sides of the market for plane tickets.10) The following graph shows the effect of a per-ticket tax on plane tickets from Boston to Tampa. Use the graph to answer questions 5 to 10. oo Price (P) of airline tickets (in dollars per ticket) $150 thousand $3,000 thousand $6,000 thousand $1,114 thousand 230 What is the deadweight loss due to the tax? 200 190 2850 3000 Swith tax Sno tax D Figure 14 Image author created Quantity (Q) of airline tickets (thousands per day)