Calculate tax revenue microeconomics
[DOC File]Principles of Microeconomics, 7e (Case/Fair)
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If the United States then imposes a $2 tax per barrel of imported oil, the tax revenue generated will equal _____ million per day. A) $4 B) $6 C) $10 D) $14 Answer: A Diff: 2 Type: A Refer to the information provided in Figure 4.3 below to answer the questions that follow.
[DOC File]Economics 101: Kelly
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-Excise tax: effects of taxes, equilibrium after the tax, tax revenue, etc. Consumer tax incidence and Producer tax incidence (calculate + identify graphically). Do not confuse the legal incidence of a tax with the economic incidence of a tax. Which curve shifts is irrelevant for the economic incidence of a tax.
[DOC File]AP Microeconomics
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Calculate the marginal cost of producing the first unit of output. If the price the firm receives for its product is $20, indicate the firm’s profit-maximizing quantity and explain how you determined your answer. Given your results in part (c), explain what will happen to the number of …
[DOC File]Microeconomics: Theory and Applications with Calculus, 2e ...
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The government revenue from the tax is: GR=(180-3.33τ)×τ. To maximize the revenue generated, we take the derivative of the GR function with respect to the tax and set equal to zero: dGR/dτ=180-6.67τ=0. Thus the revenue-maximizing tax rate is τ=$27. Topic: Effects of a Sales Tax
[DOC File]Economics 101: Kelly
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- Effects of taxes (excise tax): equilibrium after the tax, tax revenue, etc. - Consumer tax incidence and Producer tax incidence (calculate + identify graphically) (Note). Do not confuse the legal incidence of a tax with the economic incidence of a tax. Which curve shifts is irrelevant for the economic incidence of a tax.
[DOC File]Microeconomics, 7e (Pindyck/Rubinfeld)
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Tax revenue = tax * quantity . Tax revenue = (0.40)(102,500) Tax revenue = 41,000 per day or $14,965,000 per year. Diff: 2. Section: 9.6 156) The total and marginal cost functions for a typical soft coal producer are: TC = 75,000 + 0.1Q2 and MC = 0.2Q where Q is measured in railroad cars per year. The industry consists of 55 identical producers.
[DOC File]Microeconomics, 7e (Pindyck/Rubinfeld)
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32) Suppose the state legislature in your state imposes a state licensing fee of $100 per year to be paid by all firms that file state tax revenue reports. This new business tax: A) increases marginal cost. B) decreases marginal cost. C) increases marginal revenue. D) decreases marginal revenue. E) none of the above. Answer: E. Diff: 2. Section ...
[DOC File]Microeconomics II .tw
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Marginal revenue is. Marginal cost is the same as in the competitive case. Then, MR = MC means that. After specific tax is imposed, MC shifts to MC( and monopoly chooses output that satisfies the following condition. Then. Tax incidence on consumers in the case of monopoly is . Figure 11.17. 3.(ch12 Q36)
[DOC File]Introduction to Microeconomics II OEC 107
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Total revenue from the sale of a good X is given by the equation TR = 60Q – Q2. (where TR is total revenue and Q is the quantity bought at a price P. Calculate the value of Marginal revenue when the point price elasticity of demand is – 2. Would a monopolist ever operate in the inelastic portion of his demand curve? Explain your answer.
[DOC File]Section 1: Microeconomics
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Calculate different profit levels from a set of data and/or diagrams Goals of firms Profit maximisation Explain the goal of profit maximization where the difference between total revenue and total cost is maximized or where maximum revenue equals marginal costs Alternative goals of firms Describe alternative goals of firms, including revenue ...
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