Consider the economy of Cocoland, where citizens consume only coconuts.Assume that cocnuts are priced at

1. Principles of tax equity The mayor of Vancouver wants to upgrade the public transportation system. In order to fund the improvements, the mayor proposes charging an extra $1 for each ride taken. 2. Computing and interpreting average tax rates In a hypothetical economy... The following table shows the annual taxable income and tax liability for these three single individuals... 3. Understanding marginal and average tax rates Consider the economy of Cocoland, where citizens consume only coconuts. Assume that coconuts are priced at $1 each. The government has devised the following tax plans: 4. Taxes paid for a given income level Akshay is single and lives in Thunder Bay. Akshay earned $60,000 in 2013. The following table shows the federal tax rate for individuals in 2013. Fill in the following table with Akshay’s marginal tax rate, total amount of taxes owed, and average tax rate for 2013.

Assume that demand for a commodity is represented by the equation P = 10 – 0.2 Q d, and supply by the equation P = 2 + 0.2 Qs

I might be wrong...
Assume that demand for a commodity is represented by the equation P = 10 – 0.2 Q d, and supply by the equation P = 2 + 0.2 Qs where Qd and Q s are quantity demanded and quantity supplied, respectively, and P is the Price. Use the equilibrium condition Qs = Qd ,

1: Solve the equations to determine equilibrium price.

2: Now determine equilibrium quantity.

3: Graph the two equations to substantiate your answers and label these two graphs as D1 and S1.

4: Furthermore; assume the demand for this product increases because of a change in income.

A. graph the new demand curve and label as D 2.

B. What will be the new equilibrium price and quantity compare to the initial one.

The demand shifts to the right And both price and quantity will increase.

C. Is this product normal good or inferior good?

It is a normal good with positive income effect.