Order Now

Question : 61) When a product taxed, A) part of the initial consumer : 1239181

Economics

 

61) When a product is taxed,

A) part of the initial consumer surplus goes to the government as revenue.

B) part of the initial consumer surplus becomes a deadweight loss.

C) the producer surplus never changes because consumers pay taxes, not producers.

D) Both answers A and B are correct.

E) Both answers B and C are correct.

62) The size of the deadweight loss, or excess burden, of a tax depends on the

A) amount of producer surplus but not the amount of consumer surplus because it is the producers who send the tax revenues to the government.

B) strength of demand.

C) strength of supply.

D) elasticities of demand and supply.

E) number of demanders and the number of suppliers.

63) When a tax is imposed on a good or service, the

A) revenue gained by the government is the excess burden.

B) deadweight loss that arises from a tax is the excess burden.

C) share of the tax paid by the buyer is the excess burden.

D) share of the tax paid by the seller is the excess burden.

E) amount the government collects as tax revenue is the deadweight loss from the tax.

64) The excess burden of a tax refers to the fact that

A) the benefits from a tax exceed the tax revenue.

B) the deadweight loss from a tax exceeds the remaining consumer surplus.

C) marginal cost is greater than marginal benefit after the tax.

D) a tax creates a deadweight loss.

E) taxes are split between buyers and sellers.

65) The deadweight loss from a tax

A) is the tax revenue the government collects when people die.

B) is the split of a tax between the amount paid and the amount collected.

C) equals the amount collected as revenue from the tax.

D) is called the excess burden of the tax.

E) equals the amount collected as revenue from the tax plus the excess burden of the tax.

66) The deadweight loss of a tax

A) is the transfer of income from households to the government.

B) determines the incidence of a tax.

C) is part of the total burden of a tax.

D) is greater than the total burden of a tax.

E) equals the tax revenue collected by the government.

67) Suppose the elasticity of demand for Mexican food is 3.00 and the elasticity of supply is 1.20. If the government imposes a sales tax on Mexican food, which of the following occurs?

i.Less Mexican food is purchased by buyers.

ii.Less Mexican food is produced by sellers.

iii.The government receives the excess burden as revenue.

iv.Both the consumer surplus and the producer surplus decrease.

A) i and ii

B) iii only

C) i, ii, and iv

D) iv only

E) i, ii, iii, and iv

 

68) The above figure shows the demand curves in four different markets. If each of the markets has an identical upward sloping supply curve and the same tax is levied on suppliers, which market would produce the smallest amount of deadweight loss?

A) A

B) B

C) C

D) D

E) C and D

69) The above figure shows the demand curves in four different markets. If each of the markets has an identical upward sloping supply curve and the same tax is levied on suppliers, which market would produce the largest amount of deadweight loss?

A) A

B) B

C) C

D) D

E) C and D

 

70) The above figure shows the supply curves in four different markets. If each of the markets has an identical downward sloping demand curve and the same tax is levied on suppliers, which market would produce the smallest amount of deadweight loss?

A) A

B) B

C) C

D) D

E) A and D

 

 

Continue to order Get a quote
Place your order
(550 words)

Approximate price: $22

July 1, 2023
    

 

91. The inventory valuation method that identifies each item in ending inventory with a specific purchase and invoice is the: 

A. Weighted average inventory method.

B. First-in, first-out method.

C. Last-in, first-out method.

D. Specific identification method.

E. Retail inventory method.

92. A company had the following purchases during the current year:

  

On December 31, there were 26 units remaining in ending inventory. These 26 units consisted of 2 from January, 4 from February, 6 from May, 4 from September, and 10 from November. Using the specific identification method, what is the cost of the ending inventory? 

A. $3,500.

B. $3,800.

C. $3,960.

D. $3,280.

E. $3,640.

93. A company had inventory on November 1 of 5 units at a cost of $20 each. On November 2, they purchased 10 units at $22 each. On November 6 they purchased 6 units at $25 each. On November 8, 8 units were sold for $55 each. Using the LIFO perpetual inventory method, what was the value of the inventory on November 8 after the sale? 

A. $304

B. $296

C. $288

D. $280

E. $276

94. Axme Corporation uses a weighted-average perpetual inventory system.

August 2, 10 units were purchased at $12 per unit.

August 18, 15 units were purchased at $14 per unit.

August 29, 12 units were sold.

What was the amount of the cost of goods sold for this sale? 

A. $148.00.

B. $150.50.

C. $158.40.

D. $210.00.

E. $330.00.

95. A company has inventory of 10 units at a cost of $10 each on June 1. On June 3, it purchased 20 units at $12 each. 12 units are sold on June 5. Using the FIFO perpetual inventory method, what is the cost of the 12 units that were sold? 

A. $120.

B. $124.

C. $128.

D. $130.

E. $140.

96. A company has inventory of 15 units at a cost of $12 each on August 1. On August 5, it purchased 10 units at $13 per unit. On August 12 it purchased 20 units at $14 per unit. On August 15, it sold 30 units. Using the FIFO perpetual inventory method, what is the value of the inventory at August 12 after the sale? 

A. $140.

B. $160.

C. $210.

D. $380.

E. $590.

97. A company had inventory of 5 units at a cost of $20 each on November 1. On November 2, it purchased 10 units at $22 each. On November 6 it purchased 6 units at $25 each. On November 8, it sold 18 units for $54 each. Using the LIFO perpetual inventory method, what was the cost of the 18 units sold? 

A. $395.

B. $410.

C. $450.

D. $510.

E. $520.

98. A company sells a climbing kit and uses the perpetual inventory system to account for its merchandise. The beginning balance of the inventory and its transactions during January were as follows:

  

If the ending inventory is reported at $276, what inventory method was used? 

A. LIFO method.

B. FIFO method.

C. Weighted average method.

D. Specific identification method.

E. Retail inventory method.

99. Axme uses a weighted average perpetual inventory system.

August 2, 10 units were purchased at $12 per unit.

August 18, 15 units were purchased at $15 per unit.

August 29, 20 units were sold.

August 31, 14 units were purchased at $16 per unit.

What is the per-unit value of ending inventory on August 31? 

A. $12.00.

B. $13.80.

C. $15.42.

D. $16.00.

E. $17.74.

F. * $345/25 units = $13.80/unit

100. Given the following information, determine the cost of the inventory at June 30 using the LIFO perpetual inventory method.

  

The cost of the ending inventory is 

A. $200.

B. $220.

C. $380.

D. $275.

E. $300.

 

default image
July 1, 2023
    

 

91. The inventory valuation method that identifies each item in ending inventory with a specific purchase and invoice is the: 

A. Weighted average inventory method.

B. First-in, first-out method.

C. Last-in, first-out method.

D. Specific identification method.

E. Retail inventory method.

92. A company had the following purchases during the current year:

  

On December 31, there were 26 units remaining in ending inventory. These 26 units consisted of 2 from January, 4 from February, 6 from May, 4 from September, and 10 from November. Using the specific identification method, what is the cost of the ending inventory? 

A. $3,500.

B. $3,800.

C. $3,960.

D. $3,280.

E. $3,640.

93. A company had inventory on November 1 of 5 units at a cost of $20 each. On November 2, they purchased 10 units at $22 each. On November 6 they purchased 6 units at $25 each. On November 8, 8 units were sold for $55 each. Using the LIFO perpetual inventory method, what was the value of the inventory on November 8 after the sale? 

A. $304

B. $296

C. $288

D. $280

E. $276

94. Axme Corporation uses a weighted-average perpetual inventory system.

August 2, 10 units were purchased at $12 per unit.

August 18, 15 units were purchased at $14 per unit.

August 29, 12 units were sold.

What was the amount of the cost of goods sold for this sale? 

A. $148.00.

B. $150.50.

C. $158.40.

D. $210.00.

E. $330.00.

95. A company has inventory of 10 units at a cost of $10 each on June 1. On June 3, it purchased 20 units at $12 each. 12 units are sold on June 5. Using the FIFO perpetual inventory method, what is the cost of the 12 units that were sold? 

A. $120.

B. $124.

C. $128.

D. $130.

E. $140.

96. A company has inventory of 15 units at a cost of $12 each on August 1. On August 5, it purchased 10 units at $13 per unit. On August 12 it purchased 20 units at $14 per unit. On August 15, it sold 30 units. Using the FIFO perpetual inventory method, what is the value of the inventory at August 12 after the sale? 

A. $140.

B. $160.

C. $210.

D. $380.

E. $590.

97. A company had inventory of 5 units at a cost of $20 each on November 1. On November 2, it purchased 10 units at $22 each. On November 6 it purchased 6 units at $25 each. On November 8, it sold 18 units for $54 each. Using the LIFO perpetual inventory method, what was the cost of the 18 units sold? 

A. $395.

B. $410.

C. $450.

D. $510.

E. $520.

98. A company sells a climbing kit and uses the perpetual inventory system to account for its merchandise. The beginning balance of the inventory and its transactions during January were as follows:

  

If the ending inventory is reported at $276, what inventory method was used? 

A. LIFO method.

B. FIFO method.

C. Weighted average method.

D. Specific identification method.

E. Retail inventory method.

99. Axme uses a weighted average perpetual inventory system.

August 2, 10 units were purchased at $12 per unit.

August 18, 15 units were purchased at $15 per unit.

August 29, 20 units were sold.

August 31, 14 units were purchased at $16 per unit.

What is the per-unit value of ending inventory on August 31? 

A. $12.00.

B. $13.80.

C. $15.42.

D. $16.00.

E. $17.74.

F. * $345/25 units = $13.80/unit

100. Given the following information, determine the cost of the inventory at June 30 using the LIFO perpetual inventory method.

  

The cost of the ending inventory is 

A. $200.

B. $220.

C. $380.

D. $275.

E. $300.

 

default image
July 1, 2023
    

 

91. The inventory valuation method that identifies each item in ending inventory with a specific purchase and invoice is the: 

A. Weighted average inventory method.

B. First-in, first-out method.

C. Last-in, first-out method.

D. Specific identification method.

E. Retail inventory method.

92. A company had the following purchases during the current year:

  

On December 31, there were 26 units remaining in ending inventory. These 26 units consisted of 2 from January, 4 from February, 6 from May, 4 from September, and 10 from November. Using the specific identification method, what is the cost of the ending inventory? 

A. $3,500.

B. $3,800.

C. $3,960.

D. $3,280.

E. $3,640.

93. A company had inventory on November 1 of 5 units at a cost of $20 each. On November 2, they purchased 10 units at $22 each. On November 6 they purchased 6 units at $25 each. On November 8, 8 units were sold for $55 each. Using the LIFO perpetual inventory method, what was the value of the inventory on November 8 after the sale? 

A. $304

B. $296

C. $288

D. $280

E. $276

94. Axme Corporation uses a weighted-average perpetual inventory system.

August 2, 10 units were purchased at $12 per unit.

August 18, 15 units were purchased at $14 per unit.

August 29, 12 units were sold.

What was the amount of the cost of goods sold for this sale? 

A. $148.00.

B. $150.50.

C. $158.40.

D. $210.00.

E. $330.00.

95. A company has inventory of 10 units at a cost of $10 each on June 1. On June 3, it purchased 20 units at $12 each. 12 units are sold on June 5. Using the FIFO perpetual inventory method, what is the cost of the 12 units that were sold? 

A. $120.

B. $124.

C. $128.

D. $130.

E. $140.

96. A company has inventory of 15 units at a cost of $12 each on August 1. On August 5, it purchased 10 units at $13 per unit. On August 12 it purchased 20 units at $14 per unit. On August 15, it sold 30 units. Using the FIFO perpetual inventory method, what is the value of the inventory at August 12 after the sale? 

A. $140.

B. $160.

C. $210.

D. $380.

E. $590.

97. A company had inventory of 5 units at a cost of $20 each on November 1. On November 2, it purchased 10 units at $22 each. On November 6 it purchased 6 units at $25 each. On November 8, it sold 18 units for $54 each. Using the LIFO perpetual inventory method, what was the cost of the 18 units sold? 

A. $395.

B. $410.

C. $450.

D. $510.

E. $520.

98. A company sells a climbing kit and uses the perpetual inventory system to account for its merchandise. The beginning balance of the inventory and its transactions during January were as follows:

  

If the ending inventory is reported at $276, what inventory method was used? 

A. LIFO method.

B. FIFO method.

C. Weighted average method.

D. Specific identification method.

E. Retail inventory method.

99. Axme uses a weighted average perpetual inventory system.

August 2, 10 units were purchased at $12 per unit.

August 18, 15 units were purchased at $15 per unit.

August 29, 20 units were sold.

August 31, 14 units were purchased at $16 per unit.

What is the per-unit value of ending inventory on August 31? 

A. $12.00.

B. $13.80.

C. $15.42.

D. $16.00.

E. $17.74.

F. * $345/25 units = $13.80/unit

100. Given the following information, determine the cost of the inventory at June 30 using the LIFO perpetual inventory method.

  

The cost of the ending inventory is 

A. $200.

B. $220.

C. $380.

D. $275.

E. $300.

 

default image
Essay (any type)
August 22, 2022
    

They have a magnificent team. These people are always kind and willing to listen to your concerns or issues. Better yet, your assignment is always ready before the time, they usually send you a draft to double-check before they finalize your paper.

 

default image
Customer #32567
Zoology, 8 Pages
Case study
August 22, 2022
    

Completed quickly and followed instructions given. Grammar, spelling, etc. was all good as well. Thank you so much! Will hire in the future.

default image
Customer #30093
Biology (and other Life Sciences), 6 pages
Presentation/PPT
August 22, 2022
    

The work has not been graded but I like the output that was submitted to me. Is it possible for the same prof to do the next assignment I will be submitting? If possible, I will greatly appreciate it.

default image
Customer #37612
Computer science, 8 pages
Journal article
August 22, 2022
    

My third using this writer and absolutely amazing work! Very punctual and very understanding.

default image
Customer #34820
Agriculture, 4 pages
Article
August 22, 2022
    

Outstanding job in writing my paper. I am always thrill to receive a well written paper that follows the instructions and the thorough details put into my paper. The quality of this paper is beyond awesome. Thank you so much.

default image
Customer #17907
Technology, 5 pages
Thesis/Thesis chapter
August 22, 2022
    

I absolutely love this writer! He/she always cranks out a fabulous paper and follows the assignment guidelines/instructions perfectly. Thanks again for always providing such quality work!!!

default image
Customer #32146
Economics, 9 pages
Research paper
August 22, 2022
    

It took some time to achieve the product I was looking for, but we eventually got there. I do feel like a lot of hard work was put into this, and it even exceeded the page requirement. I'm pretty pleased overall. I give my thanks.

default image
Customer #22371
Ecology, 5 pages
Lab Report
August 22, 2022
    

Outstanding work! This writer followed every instruction and my paper came back with an A! I recommend to anyone needing help! Thank you again ❤️

default image
Customer #13712
Nursing, 6 pages
Outline
August 22, 2022
    

Outstanding job in writing my paper. I am always thrill to receive a well written paper that follows the instructions and the thorough details put into my paper. The quality of this paper is beyond awesome. Thank you so much.

default image
Customer #267302
IT, Web, 6 pages
Essay (any type)
August 22, 2022
    

Made 100% on both the outline and the paper. Quick turnaround time and my writer responded within 30 min or less. Any edits my instructor needed, my writer was patient and worked diligently to accomplish the task. Would recommend my writer to anyone!

default image
Customer #14472
International Trade, 8 pages
Essay (any type)
August 5, 2021
    

You are making my life so much easier! I am a single mom that works and goes to school. You guys are helping me with my projects so I can have more free time with my son.

default image
customer #13832
Tourism, 3 pages
Annotated Bibliography
August 5, 2021
    

I was sure it can fit in a single page but the next time I will add one more page because I am impressed with your professionalism and quality. Will use many more times till I graduate.

default image
customer #12008
Management, 7 pages
Essay (any type)
August 5, 2021
    

Simple registration and quality services. I just ordered one paper, and it was good enough to pass the exam. That is what I need the most. Good job.

default image
customer #16257
Communication, 4 pages
Research Proposal
August 5, 2021
    

I couldn’t finish my freaking essay, and I was very desperate. A friend of mine sent me a link, and that is how I found out about you guys. Thank you for professional tips and editing. Now, I understand how to write it properly.

default image
customer #17128
Law, 5 pages
Reflection
August 5, 2021
    

I’m so grateful to you since you managed to complete my term paper in one day! You are definitely the best company ever!

default image
customer #16528
Public Relations, 7 pages
Essay (any type)
August 5, 2021
    

I am sure on your ability to provide any type of paper I will order. I wish I could develop that skill your writers have to be able to have a flow of ideas and excellent sequencing of thoughts in writing.

default image
customer #19552
Medicine, 5 pages
Coursework
August 5, 2021
    

I ordered a thesis paper and was satisfied. All the guys were polite and highly professional, even when I wrote to them several times per day. Thanks for your passion!

default image
customer #20376
Nursing, 6 pages
Discussion Essay
August 5, 2021
    

I turned to the service twice, and my papers always were beyond the expectations. To tell the truth, I was ready to find some grammar errors or something like that. However, everything was neat and tidy.

default image
customer #18529
Marketing, 1 page
August 5, 2021

My friend recommended Doctor My Essay to me. It is convenient! Now we both turn to the service periodically coz wanna save some time and use it more effectively. I know that while I’m developing my startup, an expert is working on paper. Time management in work!

default image
Research Paper
August 5, 2021
    

I write all paper works by myself but have some problems with literacy. Actually, I have enormous problems because English is not my native language. However, with proofreading from Doctor My Essay, I can relax and don’t be ashamed of mistakes.

default image
customer #12924
Business, 7 pages
Argumentative Essay
August 5, 2021
    

Your ability to write concisely is a finding. The paper has a solid argument. It’s clear that the writer understood central claim about the topic. He also presented original ideas to consider.

default image
customer #19304
Management, 3 pages
Coursework
August 5, 2021
    

That paper got the highest grade in my class and the professor thinks I’m the smartest student. Lol.

default image
customer #12387
Accounting, 6 pages
Essay (any type)
August 5, 2021
    

I was convinced that paper writing services are the fiction for naive students. But when it came to my research paper that was to be composed in 72 hours, I had no other options. I made the right choice when I ordered it from you!

default image
customer #12924
Ethics, 4 pages
Business Plan
August 5, 2021
    

I was also satisfied with the service. Usually, I write everything by myself, but this time ( I have no idea how it happens!) I missed the deadline. My writer was very responsible, wrote the essay quickly, and kept the instructions. Nice to know that such experts exist!

default image
customer #15677
Marketing, 10 pages
Annotated Bibliography
August 5, 2021
    

It is really affordable! The prices start from 9$, which is an excellent proposal on the market. Recently I worked with another service that took much more money and provided lower quality papers.

default image
customer #11234
Sociology, 9 pages
Research proposal
August 5, 2021
    

I am absolutely satisfied. I am first timer here. Revision was made quickly, and the author met my expectations. Thanks a lot. Paper is phenomenal.

default image
customer #15327
Economics, 5 pages
Essay (any type)
August 5, 2021
    

Having heard a lot of negative reviews about such services, I was a bit skeptical. However, our cooperation with Doctor My Essay was without pitfalls. I made two comments about the final work, and they re-wrote some parts very promptly. I am satisfied and will turn to them in the future.

default image
customer #17823
Human Resource Management, 2 pages
Research paper
August 5, 2021
    

It was my first experience in online ordering, and I was a bit nervous. However, this was for nothing. I’ve got a high mark!

default image
customer #12372
Public Relations, 3 pages
Dissertation
August 5, 2021
    

I understand that buying essays is a doubtful thing. You don’t put effort, don’t represent your ideas… However, I don’t perceive Doctor My Essay as a standard service. They don’t sell papers. They share high expertise!

default image
customer #12376
Journal article, 20 pages
Coursework
August 5, 2021
    

According to my previous experience, this service is really the best. They support the client and have competitive writers. I give them a perfect score!

default image
customer #19266
Political Science, 6 pages
Admission Essay
August 5, 2021
    

Nice service! It is cool that you can use the calculator on the main page and understand the price policy. For me, it is a huge plus!

default image
customer #11437
Tourism, 1 page
Discussion Essay
August 5, 2021
    

Thanks to God I found this service! If I didn’t send my research to the teacher on time, he would eat me. I tell you! However, with doctor my essay service, I met the deadline, and I am still alive.

default image
customer #12692
Philosophy, 5 pages
Report
August 5, 2021
    

Your service is excellent! Convenient and not expensive. Thanks for that!

default image
customer #10923
Psychology, 4 pages
Essay (any type)
August 5, 2021
    

If you have problems with time management, just like me, you need to cooperate with Doctor My Essay. Once you registered and made the order, you understand how easier it makes your life! Everything is online: ordering, communication… You can control the process everywhere and be sure that an expert will provide a high-level paper.

default image
customer #17823
Business, 8 pages

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more