Author Question: Refer to Scenario 19.3 below to answer the question(s) that follow. SCENARIO 19.3: Suppose demand ... (Read 77 times)

cagreen833 · **on:** Apr 19, 2019

Question 1

Refer to Scenario 19.3 below to answer the question(s) that follow.

SCENARIO 19.3: Suppose demand for widgets is given by the equation
P = 20 - 0.5
Q. Originally, the price of the good is $10 per unit. When a tax of $2 per unit is imposed, the price of the good rises to $12 per unit.

Refer to Scenario 19.3. How much total tax revenue is raised by the tax?

◦ $2
◦ $20
◦ $32
◦ $40

Question 2

Refer to Scenario 19.3 below to answer the question(s) that follow.

SCENARIO 19.3: Suppose demand for widgets is given by the equation
P = 20 - 0.5
Q. Originally, the price of the good is $10 per unit. When a tax of $2 per unit is imposed, the price of the good rises to $12 per unit.

Refer to Scenario 19.3. What is the total burden of the tax?

◦ $4
◦ $36
◦ $64
◦ $100

flexer1n1 · **Reply #1 on:** Apr 19, 2019

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