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- What constitutes trading according to tax lawTheoretically and graphically explain the incidence of ad-valorem tax on the equilibrium price and quantityA religious group engaged in the sale of bibles and other religious articles was required to pay taxes on thesales of such merchandise. Is the imposition of the tax valid?
- Price P3 P₁ P₂ A B D F Tax- G E H Q₁ S D QuantityCBS is selling advertising for its broadeast of the AFC championship game. The station's demand for minutes of commercial advertising time is the demand it faces from the companies to which it sells advertising tme: Pans= 100,000 - 500.CBS Las MC -S2000. Buyes pay CBS aprice Pens for cach minute of adNertising and add S1.000 for each ad to cover the tax they pay, so their MCans PeRs + 1000, No one has any fixed costts. Ihe price buyers will pay tor ads is (use dollar sign and any commns: no decimal places)The government imposes a per-unit tax of 4 sheqles on banana and demand for banana is elastic. Calculate the consumer and producer share of tax burden and explain it on the graph?
- There are a variety of taxes that a person pays when buying an airline ticket. One tax is called the LUST fuel tax. LUST stands for leaking underground storage tank. The LUST tax is to establish a trust fund to provide money for oversight and corrective action against owners of leaking underground storage tanks and provides money for cleanup of LUST sites where the owner or operator is unknown. Is it efficient for customer’s of airlines to beforced to pay the tax?Suppose the the demand for a product is given by Qd = 40 − 3P , andsupply by Qs = 5 + 2P Suppose that government places a tax on consumers of 10 per unit onproducers.(a) What will be the price and quantity with the tax?(b) How much will be the consumer be paying, including the tax, for each unit that the consumer purchases?(c) How much will the government be collecting in tax revenues?(d) What is the consumer surplus now that a tax has been placed on theproduct?(e) What is the producer surplus?(f) What is the deadweight loss?Plz explain
- Assume that the actual price of the tv is 2096 lower than what you are willing to pay. Consumer surplus is the difference between what you are willing to pay and the actual price of the product. What is the consumer surplus in this situation? Sceptre 65" Class 4K UHD LED TV HDR U650CV-U Average Rating (4.1)out of 5stars1529 ratings, based on1529reviews Please see the provided rubric. O Focus hp inbrt sc & 8 {Now calculate the government's tax revenue if it sets a tax of $0, $2, $4, 55, 56, 58, or $10 per pack. (Hint: To find the equilibrium quantity after the tax, adjust the "Quantity" field until the Tax equals the value of the per-unit tax.) Using the data you generate, plot a Laffer curve by using the green points (triangle symbol) to plot total tax revenue at each of those tax levels. Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically. TAX REVENUE (Dollars) 200 180 160 140 120 100 40 20 o 3 TAX (Dolars per pack) 10 A Laffer CurveHow would I calculate the government revenue with a tax of $40 using this graph?