The demand and supply curves for a price taking firm are as follows:   Qd = 10- 0.5 Pd Qs= -2+Ps, when Ps>=2 Qs= 0, when Ps<2 where Qd is the quantity demanded when the price consumers pay is Pd, and Qs  is the quantity supplied when the price producers receive is Ps. Answer the questions below:  Explain in detail (using demand and supply curves), when a tax is imposed, who would burden the tax?

Q: The inverse supply function for pizza is: pS = 4 + QS The inverse demand function for pizza is: pD =…

A: Given information: Supply function: Ps=4+QS Demand function: Pd=10-Qd If there is a tax of $2 on…

Q: The market for N-95 masks is perfectly competitive. Market Demand is given by Q-321-2P and Market…

A: First we need to solve for the equilibrium price and quantity.…

Q: Assume quantities must be integers. The following table shows a firm's supply function assuming…

A: We know that for a firm in the industry its Inverse supply function that gives the price as a…

Q: Consider a producer who faces a linear demand curve P = 24 – Q, where P is the price in dollar ($)…

A: Tax refers to the sum of money paid by the consumers and producers to the government of a nation.…

Q: A perfectly competitive market is characterized by the following inverse demand function and inverse…

A: Equilibrium is achieved where quantity demanded equals quantity supplied.  Thus, equilibrium is…

Q: Suppose legislation is passed stating that a per unit tax of $.50 per gallon of gasoline must be…

A: Tax imposed on per gallons is a direct tax example . But burden of tax on consumer and producers…

Q: The market for N-95 masks is perfectly competitive. Market Demand is given by Q=464-2P and Market…

A: Given :  Demand :Q = 464 - 2 P  Supply : Q = 5P

Q: Chick-Thai is the only store sells chicken sandwiches around Santa Barabar, where the inverse demand…

A: Marginal cost(MC) : when there is change in output level then cost will also changes .  MC=△TC△Q

Q: The following equations describe the market for mapping printers in California: Demand: Price =…

A: The equilibrium is set up where the demand and supply are equal. The specific tax is imposed on the…

Q: What is the value of Consumer Surplus? Please enter your answer as whole dollar amounts with no…

A: Consumer surplus is the difference between the highest price a consumer is willing to pay and the…

Q: On the Virus island the inverse demand function for masks is given by the formula P=360-Q, where P -…

A: We know that price is determined by the market forces demand and supply curve at its intersection at…

Q: Demand for apples is given by the function P=50-4q while supply is given by P=10+q. If a per-unit…

A: The equilibrium is the point where demand is equal to supply. Before tax equilibrium: 50 – 4q = 10 +…

Q: A rice producing company faces the following demand function:  Pd = 300 – 0.10Q. The firm’s…

A: Disclaimer :- as you posted multipart questions we are supposed to solve the first 3 questions only…

Q: Suppose the following demand and supply function of a commodity.…

A: Given: Qd = 55 - 5P Qs = -50 + 10P After imposing tax, the new supply function is Qs = -60 + 10P

Q: Imagine an excise tax levied on the sellers of cigarettes. Assume that the tax is $2.00 per pack.…

A: Since you have posted multiple subpart question so as per answering guideline, only first 3 subpart…

Q: The city government is considering two tax proposals: • A lump-sum tax of $300 on each producer of…

A:

Q: Consider a market with a perfectly elastic demand curve at p∗ = 1, 763 and a perfectly inelastic…

A: Consumer surplus is the difference between the price that the consumer is willing to pay and the…

Q: Consider a competitive market characterized by the following market demand and supply curves.…

A: At equilibrium demand and supply are equal at certain price and quantity . And price floor is the…

Q: The demand and supply curves for a price taking firm are as follows:   Qd = 10- 0.5 Pd Qs= -2+Ps,…

A: A market refers to the point where consumer and producers for the particular commodity interacts.…

Q: The market for N-95 masks is perfectly competitive. Market Demand is given by Q=391-2P and Market…

A: Given : Market demand : Q = 391 - 2 P  Market supply : Q = 4P

Q: he inverse supply function for gum is PS = 4 + QS. The inverse demand function for gum is PD = 16 -…

A: when tax is placed on suppliers, less output is produced which is represented by the leftward shift…

Q: Consider a market equilibrium is a price = $2 and quantity = 100 units in the market for hand…

A: Price Ceiling is a government imposed price level which is the highest point at which any good can…

Q: The market for tomatoes is competitive and characterized by a demand function of the form Qp = 60000…

A: We are going to answer this question using tax burden concept to answer this question.

Q: Market demand for Mandrake roots is given by Q=443-5P and market supply is given by Q=5P. The…

A: Price ceiling is the maximum price that can be charged for a good or service levied by the…

Q: Suppose the demand for pickles on The Citadel is Qd=500-4P, and the supply is Qs=6P. Assume this…

A: The perfectly competitive is the type of market structure where there are large number of buyers and…

Q: Green et al. (2005) estimate that the demand elasticity is -0.47 and the long-run supply elasticity…

A:

Q: The demand and supply functions of shirts are given by; Demand function: P = = 50 – 1.5Q Supply…

A: Note: Since, you've posted question with multiple sub-parts, we will solve the first the first three…

Q: The demand curve for a product is given by QD = 475 - 25P and the supply curve for a product %3D is…

A: Solution: Equilibrium occurs where the demand equals supply, so QD = QS 475 - 25P = 15P - 45 475 +…

Q: Market demand for Mandrake roots is given by Q=472-4P and market supply is given by Q=3P. The…

A: Market demand  Qd=472-4P Market supply Qs=3P Tax per unit =$10

Q: The above figure shows the supply curves in four different markets. If each of the markets has an…

A: Answer is given below

Q: the inverse demand function for mangos is p=6-0.5q, where q is the number of crates that are sold.…

A: Equilibrium is achieved at the output level where quantity demanded equals quantity supplied.

Q: Q)The inverse demand function for good x is defined by the equation p = 214 - 5q, where q is the…

A: Given: inverse demand function: p = 214 - 5q,  inverse supply function:p = 7 + 4q

Q: Which of the following best describes a price ceiling? The minimum price the producer is allowed to…

A: The maximum price that is set by the government for a particular commodity and services is called…

Q: ue/False: To calculate producer surplus, one finds the area under the demand curve and above the…

A: Producer surplus refers to the difference between the amount the seller is willing to supply goods…

Q: The market supply and demand for a product are shown in the diagram below. Is the price elasticity…

A: Since you posted multiple questions, we will provide the answer for first three questions.

Q: True, False or Depends. Please develop your answers 1. "Who pays the costs of a tax will depend…

A: The tax burden is distributed based on the prevailing elasticity of demand and supply. It does not…

Q: 24 22 20 18 Supply 16 14 10 Demand 369 12 15 18 21 24 27 30 QUANTITY Consider the market described…

A: The charge that is being imposed by the government on goods and services and is the source of…

Q: The inverse supply function for pizza is: pS = 4 + QS The inverse demand function for pizza is: pD =…

A: Given data, Supply function, Ps=4+Qs Demand function, Pd=10-Qd There is a tax of $2 on production

Q: Suppose a demand function is given by p = 15 + 6000(q+25)-1 and the supply function is given by p =…

A: Therefore, equilibrium price, p* = 83.1 and quantity ,q* =63.10.

Q: The following tables describe supply and demand curves for a market. H P 70 20 50 S D Q Suppose the…

A:

Q: Given a demand curve of P = 92 - 2Q and a supply curve of P = 2 + Q, with a tax of 60, solve for the…

A: Perfect competition refers to the situation where there are many buyers and sellers exist in the…

Q: here Q is output and P is the price in dollars. Demand: P = 100 – QD

A: The law of demand states that – when other factors remain constant (cetris peribus), price(P) and…

Q: Question 2f - part 2 Given the following information QD = 240 - 5P QS = P where QD is the quantity…

A: Producers surplus is the difference between the actual price of the good and the minimum price for…

Q: For this question, suppose the market for widgets is perfectly competitive and the government…

A: If the market is competitive and government imposes a tax of $1 per unit, it is given that the…

Q: The demand and supply curves for a price taking firm are as follows:   Qd = 10- 0.5 Pd Qs= -2+Ps,…

A: Market Equilibrium refers to the point which is achieved where Demand  = Supply.