3 years ago

The basic summary device of accounting is the

1 answer:

5 0

It is the detailed record of all the changes in a specific asset, liability, or stockholder's equity item as a result of transaction. Hope this helps!

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Suppose a tax of $3 is imposed on each new garden hose that is sold, resulting in a deadweight loss of $22,500. The supply curve

liq [111]

Answer: Equilibrium quantity of garden hoses after the tax is imposed is 85000.

Explanation:

Given that,

Dead weight Loss = $22500

Tax amount per unit (t) = $3

Equilibrium quantity before tax, $Q_{b}$ = 1,00,000 units

Equilibrium quantity after tax, $Q_{a}$ = ?

Dead weight Loss = $\frac{1}{2} \times t \times (Q_{b} - Q_{a})$

22500 = 0.5 × 3 × (100000 - $Q_{a}$ )

$Q_{a}$ = 85000 units

∴ Equilibrium quantity of garden hoses after the tax is imposed is 85000.

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