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Hello, can I please get assistance with the following questions: 3 . Effect of a tax on buyers and sellers The following graph shows the
Hello, can I please get assistance with the following questions:
3 . Effect of a tax on buyers and sellers The following graph shows the weekly market for sweatpants in same hypothetical economy. Suppose the government Navies a tax of $10.15 par pair. The lax places a wedge between the price buyers pay and the price sellers receive. Supply PRICE iosdian par pair) 203 303 603 530 603 700 800 803 1060 QUANTITY (Pairs of awaelpantal Complete the following table by Wing in the quantity salud, the price buyers pay, and the price sellers receiv bafore and after the tax. Quantity Price Buyers Pay Price Sellers Receive (Pairs of sweatpants) (Dollars per pair) (Dollars per pair) Befora Tax After Tax Using your answers from the previous table, calculate the tax burden that falls on buyers and on sellers, respectively, and calculate the price elasticity of demand and supply over the reliant ranges using the midpoint method. Enter your results in the following Babe. Tax Burden (Dollars per pair) Elasticity Buyers Sallers The tax burden falls more heavily on the side of the market that is _ clasticStep by Step Solution
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