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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 130 times)

ghost!

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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. What is the excess burden of the tax?


◦ $4
◦ $36
◦ $64
◦ $100

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. Prior to the imposition of the tax consumers purchased ________ widgets and after the tax was imposed they purchased ________ widgets.


◦ 16; 20
◦ 20; 16
◦ 10; 8
◦ 40; 32
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
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Marked as best answer by ghost! on Apr 19, 2019

Athena23

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Reply #1 on: Apr 19, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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ghost!

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Reply #2 on: Apr 19, 2019
Excellent


Athena23

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Reply #3 on: Apr 19, 2019
Great! Please up vote :D


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