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The graph below demonstrates a tax on sellers in a market with perfect competition. S1 is the supply before tax, and S2 is the supply
The graph below demonstrates a tax on sellers in a market with perfect competition. S1 is the supply before tax, and S2 is the supply after tax. Note, the equilibrium price before tax is 24.1) Refer to the graph above. The tax revenue isO A $240O B. $480O C. $320O D. $3602) Who bears the greater tax incidence?O A. The incidence is equally shared between buyers and sellers.O B. The buyers.O C. The government.O D. The sellers.3) The deadweight loss resulted from taxation is _____.O A. $80O B. $90O C. $180O D. $40
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