Question
(a) The distance between points A and B represents a tax. At equilibrium, what is total surplus before the tax? (b) The distance between points
(a) The distance between points A and B represents a tax. At equilibrium, what is total surplus before the tax?
(b) The distance between points A and B represent a tax. At equilibrium, what is total surplus after the tax?
(c) The distance between points A and B represents a tax. At the after-tax equilibrium, what is deadweight loss from the tax?
(d) The distance between points A and B represents a tax. What is the amount of tax revenue?
(f) The distance between points A and B represents a tax. What percentage of the tax burden is borne by buyers? Express percentage as a number, rounded to the nearest whole number (so enter 2.1% as 2).
Price $16 $11 Supply $5 $4 $3 Demand 30 80 Quantity Price $16 $11 Supply $5 $4 $3 Demand 30 80 Quantity
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