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32 23 34 35 36 37 38 79 40 Price (per rise) $7.50 5 6 7 8 9 10 11 12 13 14 15 Quantity

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32 23 34 35 36 37 38 79 40 Price (per rise) $7.50 5 6 7 8 9 10 11 12 13 14 15 Quantity (millions of rides per year) The following graph shows the market for the long distance tos rides in the at faves, the equilibrium price of a ride is $5 and the equilibrium quantity is 10 million rides. Suppose that regulator levies ari excise tax on bus service providers. The amount of excise tax copa 52 per ride Calculate the lax revenue O $16 million OS8 million $12 million O:$9 million 10:51 AN

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