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Author Question: Suppose a market is in equilibrium at priceP0, and then an excise tax oftdollars per unit of the ... (Read 45 times)

ega16

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on: Oct 12, 2022

Question 1

If the price elasticity of demand is 0.75, then a 50% decrease in price results in a
◦ 75% increase in quantity demanded.
◦ 37.5% decrease in quantity demanded.
◦ 75% decrease in quantity demanded.
◦ 0.75% increase in quantity demanded.
◦ 37.5% increase in quantity demanded.

Question 2

Suppose a market is in equilibrium at price P0, and then an excise tax of t dollars per unit of the good is imposed. At a price of (P0 + t) there will be excess ________ for the good unless the demand curve is ________.
◦ tax; unit elastic
◦ supply; horizontal
◦ supply; vertical
◦ demand; vertical
◦ demand; horizontal
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by ega16 on Oct 12, 2022

miro2222

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Reply #1 on: Oct 12, 2022
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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ega16

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Reply 2 on: Oct 12, 2022
Thanks for the timely response, appreciate it

ultraflyy23

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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