ExamView Pro - quiztaxsubsidy

# ExamView Pro - quiztaxsubsidy - Name Class Date ID A Quiz 5...

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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.

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ExamView Pro - quiztaxsubsidy - Name Class Date ID A Quiz 5...

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