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Question Completion Status: $10 $9 $8 $7 $6 Price $5 $4 $3 $2 $1 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 9,00010,000 Quantity

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Question Completion Status: $10 $9 $8 $7 $6 Price $5 $4 $3 $2 $1 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 9,00010,000 Quantity The following graph shows the demand and supply of tickets for the local college baseball team. In the absence of taxes, the equilibrium price of a ticket is $5 and the equilibrium quantity is 5,000 units. Suppose that regulator levies an excise tax on sellers. The amount of tax equals $2 per ticket. Calculate the tax revenue. O $10,000 $12,000 $8,000

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