Graph the demand and supply curves, Microeconomics

Assignment Help:

The demand curve for oranges is given by the equation P = 5 - Q/200. The supply curve is given by P = Q/800. Q is measured in oranges per day and price is measured in dollars per orange. Suppose the government imposes a tax $0.15 on the sellers of oranges and a tax of $0.35 on consumers simultaneously.

(a) Graph the demand and supply curves (including intercepts!)

(b) Calculate the equilibrium price and quantity before the taxes are imposed.

(c) Calculate the post-tax equilibrium price and quantity.

(d) What price is received by sellers and price paid by consumers after the taxes are imposed.

(e) Calculate the tax revenue collected by the government.


Related Discussions:- Graph the demand and supply curves

INTERMEDIATE MICRO ECONOMICS, AS STUDENT OF ECONOMICS ELABORATE ON THE KALD...

AS STUDENT OF ECONOMICS ELABORATE ON THE KALDOR-HISCKS COMPENSATION

Normal and abnormal profits., the diagram used to illustrate of abnormal an...

the diagram used to illustrate of abnormal and normal profits

Causes of inflation, Causes of inflation: Excessive growth in wages ...

Causes of inflation: Excessive growth in wages relative to productivity can cause inflationary pressures. This causes aggregate demand to increase relative to aggregate supp

Economical and social policy, Topic: Please choose a case study in water re...

Topic: Please choose a case study in water related area and analyse it from at least two angles (or more) by examining the technical side as well as the economical, social and poli

Explain the kuhn-tucker theorem in economics, Explain the Kuhn-Tucker Theor...

Explain the Kuhn-Tucker Theorem in economics. Kuhn-Tucker Theorem: Assume that x solves the inequality constrained optimization problem and also satisfies the constrained qu

Williamson''s model, williomson''s model of managerial discretion

williomson''s model of managerial discretion

What is an optimization in the methods of mathematics, What is an optimizat...

What is an optimization in the methods of mathematics of modern economics? Optimization is a basic tool for the development of modern microeconomics analysis. Many of economic

Assignment, Please provide detailed answers, showing all your work, to all ...

Please provide detailed answers, showing all your work, to all five sections in problem 15.9 in the Nicholson and Snyder book. This is an individual take home task due at 11:59pm o

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd