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Consider the graph at right. Assume that before any tax, firms were willing to supply 5 thousand pounds of lobster at a price of $50 per pound. 100 95 Use the line drawing tool to draw a new supply curve reflecting a $10 per pound tax. Label this line 'STax 90 85 Carefully follow the instructions above, and only draw the required object. 80- 75- 70 65 60 55 50- 45 40- 35 30- 25 20 15- 10- 5- 10 Quantity (thousands)

Consider the graph at right. Assume that before any tax, firms were willing to supply 5 thousand pounds of lobster at a price of $50 per pound. 100 95 Use the line drawing tool to draw a new supply curve reflecting a $10 per pound tax. Label this line 'STax 90 85 Carefully follow the instructions above, and only draw the required object. 80- 75- 70 65 60 55 50- 45 40- 35 30- 25 20 15- 10- 5- 10 Quantity (thousands)

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Consider the graph at right. Assume that before any tax, firms were willing to supply 5 thousand pounds of lobster at a price of $50 per pound. 100- 95- Use the line drawing tool to draw a new supply curve reflecting a $10 per pound tax, Label this line 'STax. 90- 85- Carefully follow the instructions above, and only draw the required object. 80- 75 70- 65- 60- 55 45- 40 35 30 25 20- 15 10- 10 Quantity (thousands) tv 30 ear AlI Ger MoreHOIn Teach Me Text Pages MacBook Air DII F10 80 F8 F7 F6 F5 F4 esc F2 F3 F1 $ % & ! @ 6 7 8 3 4 1 0 P W E R T Y Q ....
Transcribed Image Text:Consider the graph at right. Assume that before any tax, firms were willing to supply 5 thousand pounds of lobster at a price of $50 per pound. 100- 95- Use the line drawing tool to draw a new supply curve reflecting a $10 per pound tax, Label this line 'STax. 90- 85- Carefully follow the instructions above, and only draw the required object. 80- 75 70- 65- 60- 55 45- 40 35 30 25 20- 15 10- 10 Quantity (thousands) tv 30 ear AlI Ger MoreHOIn Teach Me Text Pages MacBook Air DII F10 80 F8 F7 F6 F5 F4 esc F2 F3 F1 $ % & ! @ 6 7 8 3 4 1 0 P W E R T Y Q ....
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