I] Safari File Edit View Histow Bookmarks Window Help A: TueMar28 3:32 PM 0 0 [El ED Cl l2 l5] El El [oi ' MindTap - Cengage Learning ' E Course Hero I\" CENGAGE ' MINDTAP Q Search this course Homework (Ch 08) o X Governmentimposed taxes cause reductions in the activity that is being taxed, which has important implications for revenue collections. To understand the effect of such a tax, consider the monthly market for wine, which is shown on the following graphs Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph. Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly. Graph Input Tool Market for Wine D Quantity (Cases) Demand Price Supply Price {Dollars per case) {Dollars per case) Tax (Dollars per case) PRICE (Dollars per case) wlilinlllil D 714 21 28 35 42 A9 56 63 7D QUANTITY (Cases) I] Safari File Edit View Histow Bookmarks Window Help A: TueMar28 3:33 PM 0 0 [El ED Ci l2 l5} Li El [Ell ' MindTap - Cengage Learning ' E Course Hero I\" CENGAGE ' MINDTAP Q Search this course Homework (Ch 08) o X Suppose the government imposes a $10percase tax on suppliers, At this tax amount, the equilibrium quantity of wine is cases, and the government collects s in tax revenue. Now calculate the government's tax revenue if it sets a tax of $0, $10, $20, $25, $30, $40, or $50 per case. (Hint: To find the equilibrium quantity alter the tax, adjust the "Quantity\" eld until the Tax equals the value of the per-unit tax.) Using the data you generate, plot a Laffer curve by using the green points (triangle symbol) to plot total tax revenue at each of those tax levels. Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically. C?) A Laer Curve TAX REVENUE (Dollars) Safari File Edit View Histow Bookmarks Window Help A: TueMar28 3:33 PM I 0 ' [El ED Cl l2 l5] El El [Ell ' MindTap - Cengage Learning ' E Course Hero I\" CENGAGE ' MINDTAP Q Search this course Homework (Ch 08) o X E \"4 g 168 112 56 15 25 30 35 40 45 50 TAX (Dollars per case) Suppose the government is currently imposing a $10-per-case tax on wine. True or False: The government can raise its tax revenue by increasing the per-unit tax on wine. 0 True 0 False Consider the deadweight loss generated in each of the following cases: no tax, a tax of $20 per case, and a tax of $40 per case. On the following graph, use the black curve (plus symbols) to illustrate the deadweight loss in these cases. (Hint: Remember that the area of a triangle is equal to % )