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Before the price controls were imposed, Congress decided that everyone should have easier access to movie theaters and decided they wanted to repave roads. Therefore

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Before the price controls were imposed, Congress decided that everyone should have easier access to movie theaters and decided they wanted to repave roads. Therefore they decide to impose a $3 tax/ticket. a. Who would you predict bears the burden of incidence (Ticket Buyers/AMC)? Ticket buyers b. What is the new market price for tickets? $ c. How much tax revenue do they make? $ d. What is the consumer and producer surplus in this taxed market? e. How much deadweight loss?In January 2018, the following showed the demand and supply schedules for Movie Tickets: Movies Tickets Quantity Demanded Quantity Supplied $14 1 million 7 million 12 3 6 10 5 5 8 7 4 6 9 3 A 11 2 13

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