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Figure 6-33 The diagram shows the effect of a tax as measured by the distance between J and K. A graph of price, P, versus
Figure 6-33 The diagram shows the effect of a tax as measured by the distance between J and K. A graph of price, P, versus quantity, Q, shows a supply curve, S, rising linearly from (70, 20) to (140, 90), and a demand curve, D, descending linearly from (30, 80) to (160, 25). The curves intersect at (100, 50). Point J is shown on Curve D at (90, 55), and Point K is shown on Curve S at (90, 40). Refer to Figure 6-33. Based upon the diagram, Group of answer choices the incidence of the tax falls more heavily on buyers. the incidence of the tax falls more heavily on sellers. the incidence of the tax is shared equally by both buyers and sellers. the incidence of the tax cannot be determined based upon the information in the diagram
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