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Can you please help me with the following questions, thank you in advance In March 2015, Berkeley, CA became the first U.S. city to implement

Can you please help me with the following questions, thank you in advance

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In March 2015, Berkeley, CA became the first U.S. city to implement a voter-approved "soda tax" of one cent per ounce on all sugar-sweetened drinks sold in the city. The goal of the soda tax was to reduce consumption of soda and other sugar-sweetened drinks in order to combat obesity. 1. What would be the total tax charged on a typical 12-ounce can of soda? 2. Use the space below to draw a graph of the pre-tax market for 12-ounce cans of soda in Berkeley. Your graph should include the following a) Clearly-labeled x- and y- axis b) A clearly labeled demand curve c) A clearly labeled supply curve d) Clearly labeled equilibrium supply and quantity3. If we assume the actual soda tax payments are collected directly from the soda suppliers, we typically model this as an increase in the cost of production to suppliers, which would be a shift in the supply curve. Draw the new supply curve on your graph above. Be sure to label the height of the vertical distance between the old and new supply curves 4-. With the new supply curve, if the price of soda remained at the old equilibrium price [from question 2), would there be a shortage or surplus of soda? 5. Describe the competitive market forces that would move the market from the old equilibrium price and quantity [from question 2] to the new equilibrium price and quantity [using the new supply curve). label the new equilibrium price and quantity. ' ' 6. Is the new equilibrium price greater or less than the total of the old equilibrium price plus the tax? 7. Based on how you've drawn your diagram, who pays more of the tax burden, consumers or producers? 8. If you were to draw your demand curve such that it was more elastic than the one you initially drew, would that shift more of the tax burden towards or away from consumers? Why

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