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If the government raises the tax on sellers of cigarettes by $0.60 per pack, the price of cigarettes paid by buyers will Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a fall by less than $0.60 per pack b rise by $0.60 per pack not be affected rise by less than $0.60 per pack fall by $0.60 per pack C d e
Suppose in the market for cigarettes, the price elasticity of demand is -0.4, and the price elasticity of supply is 1.4. If an excise tax is imposed on sellers of cigarettes, then Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a buyers and sellers will pay equal shares of the tax buyers will pay the whole tax C buyers will pay a greater share of the tax than sellers will d sellers will pay a greater share of the tax than buyers will sellers will pay the whole tax b
Suppose a local government imposes a tax on sales of firewood. Before the tax, 20,000 bundles were sold at an average price of $6 per bundle. With the tax in effect, 16,000 bundles are sold, buyers pay $6.30 per pack, and sellers receive $5.30 per pack. Question 4 Homework Unanswered Fill in the Blanks Type your answers in all of the blanks and submit X, X Ω· In the scenario above, the tax is $ Type your answer here per pack, the tax incidence that falls on buyers is $ Type your answer here per pack, and the tax incidence that falls on sellers is $ Type your answer here pack per
In the scenario above, assuming that no externalities are generated by production or consumption of firewood, the deadweight loss caused by the tax is $ Type your numeric answer and submit