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Question 36 (10 points) Using the graph shown below, answer the following questions. Price $11 -max 10 Dafter Tax 90 100 Quantity a i. What
Question 36 (10 points) Using the graph shown below, answer the following questions. Price $11 -max 10 Dafter Tax 90 100 Quantity a i. What was the equilibrium price in this market before the tax? ii. What is the amount of the tax? 111. How much of the tax will the buyers pay? iv. How much of the tax will the sellers pay? v. How much will the buyer pay for the product after the tax is imposed? vi. How much will the seller receive after the tax is imposed? vii. As a result of the tax, what has happened to the level of market activity? b. In general, how does elasticity affect the burden of a tax
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