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. Use the table below of the market demand and supply schedules for milkshakes to answer the following questions. Price ($ per shake) Quantity Demanded
. Use the table below of the market demand and supply schedules for milkshakes to answer the following questions. Price ($ per shake) Quantity Demanded Quantity Supplied (millions of shakes (millions of shakes per year) per year) a. Draw a graph showing the demand and initial supply curve for milkshakes and identify the equilibrium price and quantity. b. To raise funds for the government, an excise tax of 30 cents per milkshake is imposed in this market. Draw the new supply curve 31 facing consumers, and nd the new equilibrium point. c. Using the new supply curve, 81, calculate the total payment made by consumers and producers. Which group pays most of the tax? Why
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