Use the following graph of the market for cigarettes to answer the questions. a. According to the
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a. According to the graph, how much is the government tax on cigarettes?
b. What price do producers receive after paying the tax?
c. How much tax revenue does the government collect?
d. How would the graph be different if the tax were collected from the buyers of cigarettes?
e. If the tax were collected from buyers, what would be the new equilibrium price that buyers pay producers of cigarettes?
f. Including the tax, what would be the total amount that cigarette buyers pay per pack?
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a The tax is 125 per pack which is represented by the vertical distance be...View the full answer
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