The graphs show the market for bags of potato chips, which is currently at an equilibrium price of $ 1.33 per bag and an equilib
rium quantity of 5.33 million bags . Suppose that, in an attempt to lower blood pressure and reduce healthcare costs, the government imposes a $ 1.00 excise (or commodity) tax on potato chips. Suppose the government levies this tax on manufacturers for each bag of potato chips they produce. Please shift the appropriate curve or curves to illustrate this.
1 answer:
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Answer:
The right solution is:
(a) 120
(b) 20%
Explanation:
Given that,
Full time employed,
= 75
Part time employed,
= 25
Total unemployed,
= 20
(a)
The total employed will be:
=
=
=
Now,
Labor force will be:
=
=
=
(b)
The unemployment rate will be:
=
=
=
= (%)