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Author Question: Refer to Scenario 19.3 below to answer the question(s) that follow. SCENARIO 19.3: Suppose demand ... (Read 111 times)

cagreen833

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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


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Marked as best answer by cagreen833 on Apr 19, 2019

flexer1n1

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cagreen833

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Reply 2 on: Apr 19, 2019
Excellent


cdmart10

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

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