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1. Calculate and and graph the equilibrium number of daily sodas and the nation wide average price per 2 liter bottles. 5 pts 2. If congress decided to impose a $1 tax on each soda sold by a seller, illustrate using a supply and demand diagram the appropriate curve that shifted, and label the following points Pb (price paid by the buyer), P, (price paid by the supplier) and Qtar quantity demand/supply after the tax. 5 pts

1. Calculate and and graph the equilibrium number of daily sodas and the nation wide average price per 2 liter bottles. 5 pts 2. If congress decided to impose a $1 tax on each soda sold by a seller, illustrate using a supply and demand diagram the appropriate curve that shifted, and label the following points Pb (price paid by the buyer), P, (price paid by the supplier) and Qtar quantity demand/supply after the tax. 5 pts

Principles of Economics 2e
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter5: Elasticity
Section: Chapter Questions
Problem 30CTQ: In a market where the supply curve is perfectly inelastic how does an excise tax affect the price...
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1. Calculate and and graph the equilibrium number of daily sodas and the nation wide average price per 2 liter bottles. 5 pts 2. If congress decided to impose a $1 tax on each soda sold by a seller, illustrate using a supply and demand diagram the appropriate curve that shifted, and label the following points Pb (price paid by the buyer), P, (price paid by the supplier) and Qtar quantity demand/supply after the tax. 5 pts
Transcribed Image Text:1. Calculate and and graph the equilibrium number of daily sodas and the nation wide average price per 2 liter bottles. 5 pts 2. If congress decided to impose a $1 tax on each soda sold by a seller, illustrate using a supply and demand diagram the appropriate curve that shifted, and label the following points Pb (price paid by the buyer), P, (price paid by the supplier) and Qtar quantity demand/supply after the tax. 5 pts
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