# 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

• macro economics -

Anyone?

• macro economics -

(\$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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