Ivy software mba prepworks fundamentals of economics exam newest actual exam complete 180 questions and correct detailed answers ( verified answers)| already graded a+

Ivy software mba prepworks fundamentals of economics exam newest actual exam complete 180 questions and correct detailed answers ( verified answers)| already graded a+ model of demand and supply ANSWEReconomists use the model of demand and supply to analyze how buyers and sellers interact in the marketplace. How much of the $10 per-unit tax is actually paid for by each iPod buyer?ANSWER$7 The initial market price was $100 and now buyers must pay $107 per iPod. After the tax is imposed the price that a buyer must pay per iPod increases by $7. Thus, the buyers pay $7 of the per unit cost. How much of the $10 per-unit tax is actually paid for by the sellers of iPods?ANSWER$3 Suppose that the $10 per iPod tax on buyers is repealed. And instead, the government imposes a new law requiring each seller to pay $10 per-iPod tax to the government, ceteris paribus. How much of the $10 per-unit tax is actually paid for by each iPod buyer?ANSWER$7 T/F: The law of demand states that if the price of a good increases, ceteris paribus, then the quantity demanded of that good will increase.ANSWERFalse T