Question
he data in the table below are for kilos of prawns. Price Quantity Demanded Quantity Supplied (before tax) Quantity Supplied (after tax) $24 270 210
he data in the table below are for kilos of prawns.
| Price | Quantity Demanded | Quantity Supplied (before tax) | Quantity Supplied (after tax) |
| $24 | 270 | 210 | |
| 26 | 250 | 220 | |
| 28 | 230 | 230 | |
| 30 | 210 | 240 | |
| 32 | 190 | 250 | |
| 34 | 170 | 260 | |
| 36 | 150 | 270 |
a) What is the present equilibrium price and quantity?
Equilibrium price: $ Equilibrium quantity: Suppose that the government introduces a $6 excise tax on prawns.
b) Complete the Quantity Supplied (after tax) that results.
c) What will be the new equilibrium price and quantity?
New equilibrium price: $ New equilibrium quantity:
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Cost Accounting Foundations and Evolutions
Authors: Michael R. Kinney, Cecily A. Raiborn
8th Edition
9781439044612, 1439044619, 978-1111626822
