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If there's an $11 tax so that the new equilibrium price is $29 and the new...


If theres an $11 tax so that the new equilibrium price is $29 and the new equilibrium quantity is 2000, then the government
If the government places a tax on gasoline then over time we expect that the elasticity of demand for gasoline will become an
If there's an $11 tax so that the new equilibrium price is $29 and the new equilibrium quantity is 2000, then the government collects__ in tax revenue. The relative burden in this situation will be Hint: the relative burden is Elasticity of Supply //- Elasticity of Demand) and also equals consumer burden/producer burden. Price (dollars) Consumer surplus Supply Demand Producer surplus 0 1,000 2,000 3,300 Quantity of good X (units) Figure 10.PERFECT COMPETITION MAXIMIZES TOTAL SURPLUS, THE SUM OF CONSUMER AND PRODUCER SURPLUS Cart 2000 by $36,300; 1.2 $22,000; 1.2 $36,300; 0.833 $22,000; 0.83
If the government places a tax on gasoline then over time we expect that the elasticity of demand for gasoline will become and therefore the consumer burden from the tax will ultimately more elastic; increase more elastic; decrease O less elastic; increase less elastic; decrease Question 47 (1 point) According to the marginal revolution economist, the demand for labor is more elastic than the supply of labor. True False Question 48 (1 point) Which of the following statements about taxation is NOT true? the tax will raise revenue the tax will increase producer surplus the tax will decrease consumer surplus the tax will generate deadweight loss
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2......more elastic, decrease

explanation- over a period of time consumers may change his consumption pattern and may reduce uses of gasoline, so burden will decrease.

3......true

with requirements of labour demand for it will be elastic whereas supply can't be altered easily.

4......b

the tax will decrease both consumers and producers surpluses. Burden of tax will be shared.

In no case producer surplus will increase.

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