Minimum 150 words per question. This is a discussion question not a paper, per se. Cite all work and videos. Watch any or all videos and then read the professors discussion and answer the questions.During the last weekend, I went to a hotel that has 120 rooms. The price of the rooms per day was $ 150. In that location a new tax per room has been established of $15 per room, per day. With that tax the hotel, established a price of $ 160. The manager calculates that the quantity of occupied rooms fell 10%.Questions:a. Which is the price elasticity?b. Which is the tax revenue for the town?c. How much of that revenue is paid by the hotel and the consumer?d. Draw two Supply-Demand graphs: one with the situation before the tax, and another after the tax. Recommended: Watch some of these videos before answering.The Burden of the Tax. https://youtu.be/UlWCAdp6sysTaxes on Producers. https://youtu.be/9gwTH4Yme8IKahn Academy. Taxes and elastic demand. https://youtu.be/z1yJPpGC3-oKahn Academy. Taxes and Inelastic Demand. https://youtu.be/lsn16U5DWD4
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