Suppose that the government enacts a tax on retail sales of road salt, which homeowners and businesses put on walkways and driveways. Assume that the supply of salt is perfectly elastic, due to the ease with which suppliers can stockpile the product. Before the tax, 800 fifty-pound bags of road salt are sold at an equilibrium price of $5.5 per bag. After the tax, 775 bags are sold at $8 per bag. How much revenue does the tax generate for the government? $
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Suppose that the government enacts a tax on retail sales of road salt, which homeowners and businesses put on walkways and driveways. ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Oriole Company had sales of $392000, variable costs of $192000, and direct fixed costs totaling $97000. The company's operating assets total $809000, and its required return is 10%. How much is the residual income?
Answers (1)
Suppose a group of British investors finances the construction of a plant to manufacture bicycles in Houston, Texas. The construction of the plant will U. S. GDP. Suppose the plant generates $250,000 in corporate profits this year.
Answers (1)
Which one sounds better? Basic Betty OR Basic Betsey
Answers (2)
Listening during an interview is just as important as talking. True or False.
Answers (1)
A product is considered to be rivalrous if A) Your consumption of the product reduces the quantity available for others to consume. B) It is jointly owned by all members of a community.
Answers (1)
New Questions in Business
When Barb realized she didn't have all of the technical information she needed to answer the customer's questions, she made a call to her office. Who would be most likely to provide appropriate assistance? A. an order getter B. an order taker C.
Answers (1)
Suppose demand for U. S. products across the world increases. What is the impact on the flow of financial capital as a result of the increase in demand for products, the value of the U. S. dollar, and the foreign money price of the U. S.
Answers (1)
What are THREE examples of monetary policy in the United States? Group of answer choices The government decreases government spending. The government increases the discount rate. The government reduces personal income tax rates.
Answers (1)
Does the production function:q=100L-20/kexhibit increasing, decreasing, or constant returns to scale?
Answers (1)
Nazim wants to include putable bonds in his investment portfolio. Nazim is likely to put the bonds when: a. He has reinvestment options with higher yields b.
Answers (2)