macro economics

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Here's a picture of the question (since it's hard to make a properly formatted table here):

tinyurl.[COM][SLASH]msy298

  • macro economics -

    I tried finding this URL, but couldn't. Could you tell us something more about this website and the kind of table there?

  • macro economics -

    The following information applies to the market for a particular item in the absence of a unit excise tax.

    (Price, Quantity Supplied, Quantity Demanded):

    ($4,50,200)
    ($5,75,175)
    ($6,100,150)
    ($7,125,125)
    ($8,150,100)
    ($9,175,75)

    Suppose that the government decides to subject producers of this item to a unit excise tax equal to $2 per unit sold. What is the new market price? (Hint: do not just add 2 to the previous equilibrium price.)

  • macro economics -

    http://img269.imageshack.us/img269/7716/picture1win.png

    Here's the link.

  • macro economics -

    Anyone?

  • macro economics -

    Is this the answer:
    ($8, 100, 100)?

    What portion of the tax is paid by producers?

  • macro economics -

    Your answer is a bit brief, but correct. I would expand to say producers get $6 per unit and supply 100, Buyers pay $8 and receive 100, Uncle Same gets $2 each or $200

    Prior to the tax, the equilibrium price was $7. Since the price to producers went down by $1 and the price to consumers went up by $1, (1/2) of the total tax was borne by producers.

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