Please answer the following questions. I am lost on what to do. Number three is about supply, demand ,marginal cost, deadweight graph with cigarettes prices $4.25, $4.50 and $5.50 and at bottom 18 quantity and then 20 quantity. 18 buys $5.50 and $4.25 priced cigarettes and 20 bought $4.50 cigs. One demand line and two supply lines (S1 and S2)
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Explain what would happen to equilibrium price and quantity in the market for Pepsi if the following occurred (be sure to indicate WHY it happens as well):
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The price of Coke decreases.
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Average household income falls from $50,000 to $43,000
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There are improvements in soft-drink bottling technology.
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The price of sugar increases and the Pepsi launches an extremely successful advertising campaign.
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Use the following equations for demand and supply to solve for market equilibrium price and quantity:
Demand: Qd = 100 – 4P
Supply: Qs = 10 + 6P
Using the diagram below, answer the following question
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How much is the per-unit tax on cigarettes?
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What price do consumers pay after the tax?
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How much tax revenue is collected?
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What is the amount of deadweight loss?