# Refer to figure 6 9 the amount of the tax per unit is

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Chapter 26 / Exercise 3
Exploring Economics
Sexton
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21. Refer to Figure 6-9. The amount of the tax per unit is a. \$1.50. b. \$3. c. \$2. d. \$1. 22. Refer to Figure 6-9. The effective price that sellers receive after the tax is imposed is a. \$5. b. \$8. c. \$7. d. \$6. 23. Refer to Figure 6-9. The price that buyers pay after the tax is imposed is a. \$7. b. \$6. c. \$8. d. \$5.
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Chapter 26 / Exercise 3
Exploring Economics
Sexton
Expert Verified
Figure 6-3 DS1020304050607080quantity2468101214161820price24. Refer to Figure 6-3. If the government imposes a price floor of \$6 on this market, then there will be a a. surplus of 30. b. surplus of 0. c. surplus of 40. d. surplus of 20. 25. Refer to Figure 6-3. If the government imposes a price ceiling of \$8 on this market, then there will be a a. shortage of 40. b. shortage of 10. c. shortage of 0. d. shortage of 20. 26. An increase in demand is represented by a. a movement downward and to the right along a demand curve. b. a leftward shift of a demand curve. c. a rightward shift of a demand curve. d. a movement upward and to the left along a demand curve.
Figure 4-8 SD100 200 300 400 500 600 700 800quantity5101520253035404550price27. Refer to Figure 4-8. At what price would there be an excess supply of 200 units of the good? a. \$15 b. \$35 c. \$20 d. \$30 28. Refer to Figure 4-8. At the equilibrium price, a. 400 units would be supplied and demanded. b. 600 units would be supplied and demanded. c. 200 units would be supplied and demanded. d. 600 units would be supplied, but only 200 would be demanded. 29. When demand is perfectly inelastic, the price elasticity of demand a. is zero, and the demand curve is horizontal. b. approaches infinity, and the demand curve is horizontal. c. is zero, and the demand curve is vertical. d. approaches infinity, and the demand curve is vertical. 30. Suppose that demand for a good decreases and, at the same time, supply of the good decreases. What would happen in the market for the good? a. Equilibrium price would increase, but the impact on equilibrium quantity would be ambiguous. b. Equilibrium price would decrease, but the impact on equilibrium quantity would be ambiguous. c. Equilibrium quantity would increase, but the impact on equilibrium price would be ambiguous. d. Equilibrium quantity would decrease, but the impact on equilibrium price would be ambiguous.
Table 5-3The following table shows the demand schedule for a particular good. Price Quantity \$15 \$12 \$9 10 \$6 15 \$3 20 \$0 25 31. Refer to Table 5-3.Using the midpoint method, what is the price elasticity of demand when price rises from \$9 to \$12? 0 5
32. If the government removes a tax on sellers of a good and imposes the same tax on buyers of the good, then the price paid by buyers will