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ECS3704 ASSIGNMENT 3 QUIZ SEMESTER 1 2024. PASS WITH DISTINCTION WITH FORTIS PASSUM.
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ECS3704 ASSIGNMENT 3 QUIZ SEMESTER 1 2024. DUE Friday, 26 April 2024, 9:00 PM. PASS WITH DISTINCTION WITH FORTIS PASSUM.
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ECS3704 ASSIGNMENT 3DUE Friday, 26 April 2024, 9:00 PM
SEMESTER 1 2024
PASS WITH DISTINCTIONS. FORTIS PASSUM
FOR FURTHER ASSISTANCE WITH ECONOMICS,
MANAGEMENT, ACCOUNTING, TAXATION,
EDUCATION & LLB MODULES.
CALL/WHATSAAP 0816884518
Email: info@fortispassum.co.za
, 1. ECS3704-24-S1
2. Welcome Message
3. Assessment 3
QUIZ
Assessment 3
Open block drawer
Started on Tuesday, 16 April 2024, 8:38 AM
State Finished
Completed on Saturday, 20 April 2024, 7:05 PM
Time taken 4 days 10 hours
Marks 7.00/10.00
Grade 14.00 out of 20.00 (70%)
Question 1
Correct
Mark 1.00 out of 1.00
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Question text
This question is based on CSS figure 11.2 (incidence of an ad valorem tax) in CSS. Which one of the
following statements is correct?
Select one:
a.
The tax causes the consumer surplus to increase by the area FBCE.
b.
The excess burden is equal to the difference between the after-tax consumer surplus and the tax
revenue collected.
c.
The size of the excess burden is only determined by the price elasticity of the taxed good.
d.
When a tax is levied on the supplier the after-tax supply curve shifts parallel from S1 to S0.
Feedback
You are incorrect. The after-tax supply curve shifts upwards to S1.
You are incorrect. The consumer surplus decreases by the area FBCE.
You are incorrect. The size of the excess burden is determined by price elasticity and the tax rate.
You are incorrect. The after-tax supply curve shifts upwards to S1.
You are incorrect. The consumer surplus decreases by the area FBCE.
You are incorrect. The size of the excess burden is determined by price elasticity and the tax rate.
The correct answer is: The excess burden is equal to the difference between the after-tax consumer
surplus and the tax revenue collected.
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