Question

Question 1Suppose the demand for a product is given by P = 60 -2Q. Also, the supply is

given by P = 10 + 3Q. If a $10 per-unit excise tax is levied on the buyers of a good, then after the tax buyers will pay _________ for each unit of the good.

None of these

$34

$10

$40

$8

Question 2

Suppose the demand for a product is given by P = 40 – 4Q. Also, the supply is given by P = 10 + Q. If a $10 per-unit excise tax is levied on the buyers of a good, then after the tax sellers will receive _________ for each unit of the good.

$24

None of these

$6

$4

$16

Question 3

Suppose the demand for a product is given by P = 50 -Q. Also, the supply is given by P = 10 + 3Q. If a $12 per-unit excise tax is levied on the buyers of a good, what proportion of the tax will be paid by the buyers?

None of these

20%

40%

0%

75%

Question 4

Suppose the demand for a product is given by P = 50 -Q. Also, the supply is given by P = 10 + 3Q. If a $12 per-unit excise tax is levied on the buyers of a good, the deadweight loss created by this tax will be

$24.5

$84

$36

None of these

$73.5

Question 5

Suppose the demand for a product is given by P = 60 -2Q. Also, the supply is given by P = 10 + 3Q. If a $10 per-unit excise tax is levied on the buyers of a good, consumer surplus is equal to

$10

$128

None of these

$20

$64

Question 6

Suppose the demand for a product is given by P = 30 – 3Q. Also, the supply is given by P = 10 + Q. If a $4 per-unit excise tax is levied on the buyers of a good, producer surplus is equal to

None of these

$4

$8

$16

$24

Question 7

Suppose the demand for a product is given by P = 30 – 2Q. Also, the supply is given by P = 5 + 3Q. If a $5 per-unit excise tax is levied on the buyers of a good, after the tax, government revenue is equal to

$20

$64

None of these

$24

$25

Question 8

Suppose the demand for a product is given by P = 30 – 2Q. Also, the supply is given by P = 5 + 3Q. If a $5 per-unit excise tax is levied on the buyers of a good, after the tax, the total amount of tax paid by the consumers is

$8

$20

$12

Question 9

Suppose the demand for a product is given by P = 100 – 2Q. Also, the supply is given by P = 20 + 6Q. If an $8 per-unit excise tax is levied on the buyers of a good, after the tax, the total amount of tax paid by the producers is

None of these

$72

$81

$54

$4

Question 10

Suppose the demand for a product is given by P = 40 – 4Q. Also, the supply is given by P = 10 + Q. If a $10 per-unit excise tax is levied on the buyers of a good, after the tax, the total quantity of the good sold is

None of these

16

2

14

6

 

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