Prelim Eco Assignment (1 Viewer)

[benjihua93]

Hey for my eco assignment we are asled to identify how a 10 dollar sales tax on the price of beef will effect the supply and demand curve.

Could someone please help

 

[timw7845]

Re: Eco Assignment

how long does it have to be?

 

[benjihua93]

Re: Eco Assignment

about a paragrapg plus the graph

 

[timw7845]

Re: Eco Assignment

im crap at eco but ill give it a go...

the demand would decrease because of the $10 tax put on the price

the supply would increase due to the lack of demand?

sound right?

 

[electrolysis]

Re: Eco Assignment

Hey for my eco assignment we are asled to identify how a 10 dollar sales tax on the price of beef will effect the supply and demand curve.

Could someone please help

well theres gonna be less demand by consumers due the extra costs to purchase the beef...

 

[benjihua93]

Re: Eco Assignment

ok thanks for that tim

 

[electrolysis]

Re: Eco Assignment

well supply could possibly rise due to the less production costs relative to the price per unit sold

 

[benjihua93]

Re: Eco Assignment

umm electrolysis may i ask y the cost of production will be less

 

[Mu5hi]

Re: Eco Assignment

supply unchanged, or contracting if demand really slows down
Demand decreasing (as less people will want to buy beef/afford it/or eat other meats)

 

[electrolysis]

Re: Eco Assignment

umm electrolysis may i ask y the cost of production will be less

oops, I was writing a reply for this and then suddenly realised that you meant a 'tax'.. my bad

if it wasnt a tax that the company had to pay then it would be cheaper to produce 'relative' to the cost of one beef...

 

[Sleight_of_Hand]

Re: Eco Assignment

depends if beef is a nessessity and if it can be substituted.. also