Kumquats are produced in the U.S. by price takers. The demand for kumquats is downward sloping and the supply of kumquats is upward sloping.

Suppose the U. S. government imposes a tax of $1 per pound on the consumers of kumquats.

What will happen to the price of kumquats paid by consumers as a result of this tax?

Kumquats are produced in the U.S. by price takers. The demand for kumquats is downward sloping and the supply of kumquats is upward sloping.

Suppose the U. S. government imposes a tax of $1 per pound on the producers of kumquats.

What will happen to consumer surplus in the kumquat marketas a result of this tax?

When considering the elasticities of supply and demand and the deadweight loss of a per unit tax = $10, which of the following is most correct?

Refer to the supply and demand curves below.

Consider the introduction of a $30 per unit tax on consumers in this market.

Refer to the supply and demand curves below.

Consider the introduction of a $30 per unit tax on consumers in this market.