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Author Question: Refer to Figure 4-20. The figure above represents demand and supply in the market for gasoline. Use ... (Read 94 times)

CharlieWard

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on: Jun 29, 2018
Refer to Figure 4-20. The figure above represents demand and supply in the market for gasoline. Use the diagram to answer the following questions.
 
  a. How much is the government tax on each gallon of gasoline?
  b. What portion of the per-unit tax is paid by consumers?
  c. What portion of the per-unit tax is paid by producers?
  d. What is the quantity sold after the imposition of the tax?
  e. What is the after-tax revenue per gallon received by producers?
  f. What is the total tax revenue collected by the government?
  g. What is the value of the excess burden of the tax?
  h. Is this gasoline tax efficient?

Question 2

A decrease in the equilibrium quantity for a product will result
 
  A) when there is an increase in supply and a decrease in demand for the product.
  B) when there is a decrease in supply and a decrease in demand for the product.
  C) when the quantity demanded for the product exceeds the quantity supplied.
  D) when there is a decrease in demand and an increase in the number of firms producing the product.
InMicro ¦ Hubbard, O'Brien ¦ 1st Edition
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ApricotDream

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Reply #1 on: Jun 29, 2018
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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CharlieWard

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Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

nanny

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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