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Category > Economics Posted 03 May 2017 My Price 11.00

sales tax

  1. How is elasticity related to the revenue from a sales tax?
  2. suppose demand for cigarettes is inelastic and the supply of cigarettes is elastic. Who would bear the larger share of the burden of a tax placed on cigarettes?
  3. If the demand for a good is perfectly elastic and the supply is elastic, who will bear the larger share of the burden of a tax on the good where the tax is paid by consumers?
  4. which good would an economist normally recommend taxing if government wanted to minimize welfare loss and maximize revenue: a good with an elastic or inelastic supply? why?
  5. There's a gas shortage in Gasland. You're presented with two proposals that will achieve the same level of reduction in the use of gas. Proposal A would force everybody to reduce their gas consumption by 5%. Proposal B who impose a 50 cent tax on the consumption of a gallon of gas, which would also achieve a 5% reduction. Consumers of gas can be divided into two groups - one group whose demand is elastic and another group whose demand is inelastic.
  6. how will the proposals affect each group?
  7. which group would support a regulatory policy?
  8. which would support a tax policy?

Answers

SuperTutor
(15)
Status NEW Posted 03 May 2017 05:05 AM My Price 11.00

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