1.5. In Sucrosia, the supply curve for sugar is as follows:

Price

(per 100 pound bag)

$30

$50

$70 Price of sugar

$70 50 30 Quantity 10,000 15,000 20,000 10 15 20 Quantity of sugar

(1000s)

Under pressure from nutrition activists, the government decides to tax sugar producers with a $5 tax per 100 pound bag. U sing the figure above, draw the new supply curve. After the tax is enacted, what price will bring forth quantities of 10,000? 15,000? 20,000? Give your answers in the table below:

Price

(per 100 pound bag)

Quantity 10,000 15,000 20,000