Figure 6 9 s d d after 30 40 50 60 70 80 quantity 1 2

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Exploring Macroeconomics
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Chapter 4 / Exercise 1a
Exploring Macroeconomics
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Figure 6-9 SDD after tax1020304050607080quantity12345678910price13. Refer to Figure 6-9. The amount of the tax per unit is a. $1.50. b. $3. c. $2. d. $1.
14. Refer to Figure 6-9. The effective price that sellers receive after the tax is imposed is
15. Refer to Figure 6-9. The price that buyers pay after the tax is imposed is
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Exploring Macroeconomics
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Chapter 4 / Exercise 1a
Exploring Macroeconomics
Sexton
Expert Verified
Figure 6-3 DS1020304050607080quantity2468101214161820price16. Refer to Figure 6-3. If the government imposes a price floor of $6 on this market, then there will be a
17. 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.
Figure 4-8 SD100 200 300 400 500 600 700 800quantity5101520253035404550price18. Refer to Figure 4-8. At what price would there be an excess supply of 200 units of the good?
19. Refer to Figure 4-8. At the equilibrium price,
20. 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?
21. Milk has an inelastic demand and beef has an elastic demand. Suppose that a mysterious increase in bovine infertility decreases both the population of dairy cows and the population of beef cattle by 50 percent. The change in equilibrium price will be a. the same in the milk and beef markets. b. greater in the milk market than in the beef market. c. greater in the beef market than in the milk market. d. may be greater in either the milk market or the beef market.

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