1. Effect of a tax on buyers and sellers The following graph shows the daily market for shoes when the tax on sellers is set at $0 per pair. Suppose the government institutes a tax of $23.20 per pair, to be paid by the seller. Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph. Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly. Hint: To see the impact of the tax, first enter the value of the tax in the Tax on Sellers field. Adjust the value in the price field to move the g to the after-tax equilibrium so that quantity demanded equals quantity supplied." Graph Input Tool ? 200 Market for Shoes 180 Price $100 (Dollars per pair) 160 Supply Quantity 140 50.00 Quantity Supplied Demanded 50.00 (Pairs of shoes) (Pairs of shoes) 120 100 PRICE (Dollars per pair) Supply Shifter 80 Demand Tax on Sellers 0.00 Dollars per pair) 40 20 0 0 10 0 30 40 50 60 70 80 90 100 QUANTITY (Pairs of shoes)