WebThe data describes the market for luxury boats. Now the government puts 10 percent tax on luxury boats. With the tax imposed, the price of a luxury boat is, O A. $0.40 million B. $4.20 million O C. $4 million D. $400 million E. $4.40 million With the 10 percent tax on luxury boats, O A. the tax reduces the quantity of luxury boats sold to zero ... WebExplain. c. In response to farmers’ complaints, the government agrees to purchase all the surplus cheese at the price floor. Compared to the basic price floor, who benefits from this new policy? Who loses? If the government places a $500 tax on luxury cars, will the price paid by consumers rise by more than $500, less than $500, or exactly $500?
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Web28 aug. 2024 · If the government places a $500 tax on luxury cars, will the price paid by consumers rise by... 1. If the government places a $500 tax on luxury cars, will the price paid by consumers rise by more than $500, less than $500 or exactly $500? Explain. 2. WebIf the government places a $500 tax on luxury cars, will the price paid by consumers rise by more than $500, less than $5 00, or exactly $500? Explain. The price will rise by less than $500 The burden of any tax is shared by both producers and consumers the … rlr automotive services inc
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Web20 nov. 2024 · Answer: If the government imposes a $500 tax on luxury cars, the price paid by consumers will rise less than $500, in general. The price paid by consumers will … WebThe luxury tax is governed by state governments in India, which implies tax rates and rules vary state-wise. Learn more about tax filing for luxury goods and services. Home … WebQ: If the government places a tax of $500 on luxury cars, what happens in the market? Please assume… A: Demand refers to the quantity that a consumer wishes to purchase … rl ray violins