ExamView Pro - quiztaxsubsidy

ExamView Pro - quiztaxsubsidy - Name: _ Class: _ Date: _...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Class: ___________________ Date: __________ ID: A 1 Quiz 5 Multiple Choice Identify the letter of the choice that best completes the statement or answers the question. S D 2.00 2.25 2.50 2.75 3.00 3.25 3.50 3.75 4.00 4.25 4.50 4.75 5.25 5.00 300 320 340 360 380 400 ____ 1. Suppose that a $0.75 tax is imposed in this market. What is the new equilibrium price that suppliers receive? a. 4.25 c. 3.75 b. 3.50 d. 4.50 ____ 2. Suppose that a $0.75 tax is imposed in this market. What is the tax incidence? a. 0 c. 1/2 b. 1/3 d. 2/3 ____ 3. Suppose that a $0.75 tax is imposed in this market. What is the new CS? a. 90 c. 135 b. 110 d. 190 ____ 4. Suppose that a $0.75 tax is imposed in this market. What is the DWL? a. $7.50 c. $18 b. $12.50 d. $32 The equations for supply and demand for widgets are given by the following: Q d = 60 2 p Qs = 3 p ____ 5. Suppose that a $5 tax is imposed. What is the new price consumers pay? a.
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 4

ExamView Pro - quiztaxsubsidy - Name: _ Class: _ Date: _...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online