Author Question: Suppose that a specific tax of 3 is imposed on producers of bread. The bread market supply is Qs = ... (Read 108 times)

kodithompson

  • Hero Member
  • *****
  • Posts: 566
Suppose that a specific tax of 3 is imposed on producers of bread. The bread market supply is Qs = 10 + 0.5P and the bread market demand is Qd = 100-P. What is the producers' tax burden?
 
  A) Producers' tax burden is 1.30.
  B) Producers' tax burden is 3.00.
  C) Producers' tax burden is 2.00.
  D) Producers' tax burden is 2.30

Question 2

Suppose that a specific tax of 3 is imposed on consumers of bread. The bread market supply is Qs = 10 + 0.5P and the bread market demand is Qd = 100-P. What is the consumers' tax burden?
 
  A) Consumers' tax burden is 1.30.
  B) Consumers' tax burden is 1.00.
  C) Consumers' tax burden is 1.50.
  D) Consumers' tax burden is 0.30



amit

  • Sr. Member
  • ****
  • Posts: 364
Answer to Question 1

C

Answer to Question 2

B



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

After 5 years of being diagnosed with rheumatoid arthritis, one every three patients will no longer be able to work.

Did you know?

According to the National Institute of Environmental Health Sciences, lung disease is the third leading killer in the United States, responsible for one in seven deaths. It is the leading cause of death among infants under the age of one year.

Did you know?

Earwax has antimicrobial properties that reduce the viability of bacteria and fungus in the human ear.

Did you know?

The toxic levels for lithium carbonate are close to the therapeutic levels. Signs of toxicity include fine hand tremor, polyuria, mild thirst, nausea, general discomfort, diarrhea, vomiting, drowsiness, muscular weakness, lack of coordination, ataxia, giddiness, tinnitus, and blurred vision.

Did you know?

Stroke kills people from all ethnic backgrounds, but the people at highest risk for fatal strokes are: black men, black women, Asian men, white men, and white women.

For a complete list of videos, visit our video library