10 Figure: Soda Market Price per cent 0:40 - 40 10 80 100 129 102 509 Cans of soda (thousands] How much consumer surplus is lost because of a 70g tax? A) $18,000,000 B) $60,000,000 C) $69,000,000 D) $78,000,000 11. 3D printing is an exciting new manufacturing technology that will allow producers to fabricate all kinds of items with a single, small, mobile printer. If the technology succeeds, we won't have as much need for large, immovable factories. What would be the result? A) Governments would have a harder time raising revenue by taxing manufacturing B) The deadweight loss from taxing manufacturing would decrease C) The elasticity of demand for manufactured goods would increase. D) Consumers would pay a smaller portion of the tax on manufactured goods. 12. A tax targeted to reduce consumption of a good by a specific quantity will raise the m revenue when: A) both supply and demand are inelastic, B) supply is inelastic and demand is elastic. C) supply is elastic and demand is inelastic. D) both supply and demand are elastic. Page 6