Log in
Economics
3
answers
0
watching
142
views
24 Aug 2019

Assume that the demand curve for oranges is downward-sloping and the supply curve for oranges is upward-sloping. If the government imposes an excise tax of 10¢ per orange, then the total price (including the tax) that demanders must pay for an orange

Watch
3
answers
0
watching
142
views

For unlimited access to Homework Help, a Homework+ subscription is required.

Unlock all answers

Get 1 free homework help answer.
Already have an account? Log in
Share
7 Apr 2022
Already have an account? Log in
Share
Already have an account? Log in
Share

Related textbook solutions

Principles of Economics
2nd Edition, 2017
Openstax
ISBN: 9781947172364
Principles of Macroeconomics
2 Edition,
Openstax
ISBN: 9781947172388
Principles of Microeconomics
2 Edition,
Openstax
ISBN: 9781947172340

Related questions

For each of three potential buyers of oranges, the table displays the willingness to pay for the first three oranges of the day. Assume Alex, Barb, and Carlos are the only three buyers of oranges, and only three oranges can be supplied per day. First Orange Second Orange Third Orange Allison $2.00 $1.50 $0.75 Bob $1.50 $1.00 $0.80 Charisse $0.75 $0.25 $0 4. Refer to Table 1. If the market price of an orange is $0.40, then a. 6 oranges are demanded per day, and consumer surplus amounts to $4.45. b. 6 oranges are demanded per day, and consumer surplus amounts to $5.10. c. 7 oranges are demanded per day, and consumer surplus amounts to $5.35. d. 7 oranges are demanded per day, and consumer surplus amounts to $5.50.

Peanut butter has an upward-sloping supply curve and a downward-sloping demand curve. If a 10 cent per pound tax is increased to 15 cents, the government's tax revenue...

a. increases by less than 50 percent and may even decline.
b. increases by exactly 50 percent.
c. increases by more than 50 percent.
d. The answer depends on whether supply or demand is more elastic.

Peanut butter has an upward-sloping supply curve and a downward-sloping demand curve. If a 10 cent per pound tax is increased to 15 cents, the government's tax revenue...

a. increases by less than 50 percent and may even decline.
b. increases by exactly 50 percent.
c. increases by more than 50 percent.
d. The answer depends on whether supply or demand is more elastic.

 

Weekly leaderboard

Home
Homework Help 3,900,000
Economics 400,000
Start filling in the gaps now
Log in