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Match the S&D questions to the correct answers. Column A 1. Total net revenue to producer: Total net revenue to producer 2. Total consumer outlay
Match the S&D questions to the correct answers. Column A 1. Total net revenue to producer: Total net revenue to producer 2. Total consumer outlay spent: Total consumer outlay spent 3. Portion of tax producer (supplier) pays: Portion of tax producer (supplier) pays 4. Portion of tax consumer pays: Portion of tax consumer pays Column B a.Qty X price consumer pays for each item. b.Difference between amount supplier gets for each item before the tax was imposed, and amount received after the tax. c.Qty X price supplier receives for each item (if excise tax, supplier gets less than the consumer pays). d.Difference between amount consumer pays for each item before the tax was imposed, and amount received after the tax. (if they used to pay $3, and now the equilibrium price is $4, then they "pay" $1 of the tax)
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