Question 12 Scenario 4 Suppose the supply curve of workers is given by w 14 + 6Es, while the demand curve is given by w = 55-3Ep Calculate the equilibrium wage. Round your answer to the nearest hundredth (two decimal places). Question 13 Scenario 4 Suppose the supply curve of workers is given by w = 14 +6Es, while the demand curve is given by w -55-3Ep Calculate the equilibrium employment. Round your answer to the nearest hundredth (two decimal places). Question 14 Scenario 4 Suppose that the supply curve of workers is given by w = 14 +6Es, while the demand curve is given by w 55-3E Suppose now a tax of $5 is added into this labor market. How much do workers receive as wage after this payroll tax? Round your answer to the nearest hundredth (two decimal places).

Microeconomics: Principles & Policy
14th Edition
ISBN:9781337794992
Author:William J. Baumol, Alan S. Blinder, John L. Solow
Publisher:William J. Baumol, Alan S. Blinder, John L. Solow
Chapter17: Taxation And Resource Allocation
Section: Chapter Questions
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Question 12
Scenario 4
Suppose the supply curve of workers is given by w = 14 + 6Es, while the demand curve is given by wi
= 55-3Ep
Calculate the equilibrium wage. Round your answer to the nearest hundredth (two decimal places).
Question 13
Scenario 4
Suppose the supply curve of workers is given by w = 14 +6Es, while the demand curve is given by w
= 55-3Ep.
Calculate the equilibrium employment. Round your answer to the nearest hundredth (two decimal
places).
Question 14
Scenario 4
Suppose that the supply curve of workers is given by w = 14 + 6Es, while the demand curve is given
by w = 55-3E₂ Suppose now a tax of $5 is added into this labor market.
How much do workers receive as wage after this payroll tax? Round your answer to the nearest
hundredth (two decimal places).
Transcribed Image Text:Question 12 Scenario 4 Suppose the supply curve of workers is given by w = 14 + 6Es, while the demand curve is given by wi = 55-3Ep Calculate the equilibrium wage. Round your answer to the nearest hundredth (two decimal places). Question 13 Scenario 4 Suppose the supply curve of workers is given by w = 14 +6Es, while the demand curve is given by w = 55-3Ep. Calculate the equilibrium employment. Round your answer to the nearest hundredth (two decimal places). Question 14 Scenario 4 Suppose that the supply curve of workers is given by w = 14 + 6Es, while the demand curve is given by w = 55-3E₂ Suppose now a tax of $5 is added into this labor market. How much do workers receive as wage after this payroll tax? Round your answer to the nearest hundredth (two decimal places).
Question 16
Scenario 4
Suppose that the supply curve of workers is given by w = 14 +6Es, while the demand curve is given
by w = 55-3Ep. Suppose now a tax of $5 is added into this labor market.
What is the government tax revenue as a result of this payroll tax? Round your answer to the
nearest hundredth (two decimal places)
Question 17
Scenario 4
Suppose that the supply curve of workers is given by w = 14 +6Es, while the demand curve is given
by w = 55-3Ep. Suppose now a tax of $5 is added into this labor market.
What is the amount of deadweight loss generated as a result of this payroll tax (do not round, write
out entire number)? Note that the deadweight loss should be a positive number, as it indicates the
amount of loss (i.e. having a negative deadweight loss would imply a gain of surplus). Round your
answer to the nearest hundredth (two decimal places).
Transcribed Image Text:Question 16 Scenario 4 Suppose that the supply curve of workers is given by w = 14 +6Es, while the demand curve is given by w = 55-3Ep. Suppose now a tax of $5 is added into this labor market. What is the government tax revenue as a result of this payroll tax? Round your answer to the nearest hundredth (two decimal places) Question 17 Scenario 4 Suppose that the supply curve of workers is given by w = 14 +6Es, while the demand curve is given by w = 55-3Ep. Suppose now a tax of $5 is added into this labor market. What is the amount of deadweight loss generated as a result of this payroll tax (do not round, write out entire number)? Note that the deadweight loss should be a positive number, as it indicates the amount of loss (i.e. having a negative deadweight loss would imply a gain of surplus). Round your answer to the nearest hundredth (two decimal places).
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