Transcript Has your clicker response been recorded properly in the last 2

Has your clicker response been
recorded properly in the last 2
classes?
1. Yes, no problems.
2. I had problems earlier, but
now its fine.
3. I am still having problems.
4. I haven’t checked.
53%
29%
12%
Ih
av
d.
ke
en
’t
ng
ha
vi
st
ill
m
ch
ec
pr
o.
..
...
lie
r
ea
r
le
m
s
Ia
ha
d
Ye
pr
ob
s,
no
pr
ob
l
em
s.
5%
The effect on price of a sales tax
collected from buyers is the
same as the effect of
1. An upward shift of the demand
curve.
2. A downward shift of the demand
curve .
3. An upward shift of the supply
curve.
4. A downward shift of the supply
curve.
93%
f
ift
o
sh
ift
sh
ar
d
ar
d
f.
..
of
t..
3% 1
ift
o
sh
ar
d
ar
d
sh
ift
of
t..
3%
The demand curve has slope –1 and the supply
curve has slope +2. A sales tax causes the after
tax price to buyers to rise by $10. The after tax
price received by sellers must have fallen
1.
2.
3.
4.
By $10
By $5
By $20
By $0
53%
27%
15%
5%
And on to our lecture…
If the supply curve is vertical, the
excess burden of a sales tax is
97%
x.
..
...
lf
th
e
ta
ta
x
he
ha
n
M
or
e
th
a
th
an
Le
ss
qu
e
lf
t
ha
an
tit
y
so
ld
Ze
tim
..
ro
2% 0% 1%
Th
1. Zero
2. The quantity sold
times the tax rate.
3. Less than half the
tax revenue.
4. More than half the
tax revenue.
If the supply curve is horizontal, a
$10 increase in the sales tax will
cause the equilibrium after tax price
to rise by
88%
1. By $10.
2. By less than $10.
3. By more than $10.
2%
an
$1
0.
0.
$1
an
y
$1
0.
10%
And back to our lecture…