Homework Answers
Answer : 1) The answer is option d.
Based on consumers' demand who purchases goods and services the market demand for goods and services is determined. Therefore, option d is correct.
2) The answer is option d.
If supply increase in the market then the supply curve shift to rightward. As a result, at new equilibrium point the price level fall and the quantity level increase. Therefore, option d is correct.
3) The answer is option d.
Before tax impose sellers receives $16 per unit. But after tax impose sellers receives only $10 per unit. So, sellers' per unit tax burden = 16 - 10 = $6. Therefore, option d is correct.
4) The answer is option c.
In panel (a) the market demand increases which shifts the market demand curve to rightward and becomes from D to D'. As a result, the price level increases from Pe to Pe' and quantity supplied increases from Qe to Qe'. Therefore, option c is correct.
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