1.Suppose the price of a good was $50 before the government added a $5 per-unit tax.After the tax assume the price of the good increased to $53 and the equilibrium quantity decreased from 100,000 units to 90,000 units.Which of the following isfalse?

Total Tax revenue is $450,000

The tax burden is equal to 10,000 units

At a price of $55 there would be excess supply of the good

Producer tax burden is $180,000

2.Suppose a $5 per-unit tax is placed on a good.If the original equilibrium is (P = $20, Q = 1,000) and the new equilibrium is (P = $21, Q = 500), what is the producer tax burden?

Producer tax burden = $2000

Producer tax burden = $4000

Producer tax burden = $1000

Producer tax burden = $2500

3.Suppose a per-unit tax is placed on the sellers of a good with an elastic (relatively flat) demand curve.Which one of the following isfalse?

The decrease in equilibrium quantity will be large (relative to that of an inelastic demand curve)

Most of the tax will be paid by consumers

The price increase will be small (relative to that of an inelastic demand curve)

There will be a large amount of deadweight loss (relative to that of an inelastic demand curve)

4.When a tax is statutorily placed on buyers instead of sellers:

Consumer tax burden will decrease while producer tax burden will increase

Consumer tax burden will increase while producer tax burden will decrease

There is no effect on the size of consumer and producer tax burdens

5.Suppose a $10 per unit tax causes the equilibrium price of a good to increase $7 and the equilibrium quantity to decrease from 10,000 units to 8,000 units.How much tax revenue will be received by the government?

Total tax revenue is $80,000

Total tax revenue is $100,000

Total tax revenue is $56,000

Only need answer.Thank you

Total tax revenue is $70,000