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- 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.ut Figure 6-13 Price F1 Price 191-4 on this page 2 W F2 # (a) 3 (c) E 80 fer to Figure 6-13. In which market will the maiority of a tax be paid by the buyer? F3 Quantity $ 4 Quantity R Price F4 Price 5 0 F5 (b) (d) 6 D F6 Quantity D Quantity & 7 F7 8 DII F8Price $20 18 16 14 12 10 8 4 2 Dar San 10 20 30 40 50 60 70 80 90 Quantity o The amount of the tax per unit is
- What is the deadweight loss if there is an $8 price floor? Price of asparagus (S/pound) 4500 6000 1500 6500 O 1000 $10 9 8 7 6 5. 4- 3- 2- 1 S D 0 1 2 3 4 5 6 7 8 9 10 Quantity of asparagus (1,000s of pounds)Price $6.00 $8.00 $10.0 $4.00 $20 18 16- 14 12 10- 8 6- 4- 2 0 10 20 30 40 50 60 70 80 90 Dafter Tax D Quantity Refer to the figure above. What is the share of the tax burden per unit that sellers would pay?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.
- 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)Suppose the the demand for a product is given by Qd = 40 − 3P , andsupply by Qs = 5 + 2P Suppose that government places a tax on consumers of 10 per unit onproducers.(a) What will be the price and quantity with the tax?(b) How much will be the consumer be paying, including the tax, for each unit that the consumer purchases?(c) How much will the government be collecting in tax revenues?(d) What is the consumer surplus now that a tax has been placed on theproduct?(e) What is the producer surplus?(f) What is the deadweight loss?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.
- Do it plzCBS is selling advertising for its broadeast of the AFC championship game. The station's demand for minutes of commercial advertising time is the demand it faces from the companies to which it sells advertising tme: Pans= 100,000 - 500.CBS Las MC -S2000. Buyes pay CBS aprice Pens for cach minute of adNertising and add S1.000 for each ad to cover the tax they pay, so their MCans PeRs + 1000, No one has any fixed costts. Ihe price buyers will pay tor ads is (use dollar sign and any commns: no decimal places)Question 2h Gvem the folowing ndormation Q0-240-5P where QD is the quantity demanded, 05 is the quantity upplied and Pis the poo Suppose that the government decides to impose a tax of $12 per unit on sellers in tthe market Determne Deadwnght loss of the tax
