e table shows the market for tulips. Price (dollars per bunch) Quantity demanded Quantity supplied (bunches per week) 10 100 40 12 90 60 14 80 80 16 70 100 18 60 120 If tulips are taxed at $6 a bunch, what is the tax
e table shows the market for tulips. Price (dollars per bunch) Quantity demanded Quantity supplied (bunches per week) 10 100 40 12 90 60 14 80 80 16 70 100 18 60 120 If tulips are taxed at $6 a bunch, what is the tax
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...
Related questions
Question
The table shows the market for tulips.
(dollars per
bunch)
|
Quantity demanded
|
Quantity supplied
|
---|---|---|
(bunches per week)
|
||
10
|
100
|
40
|
12
|
90
|
60
|
14
|
80
|
80
|
16
|
70
|
100
|
18
|
60
|
120
|
If tulips are taxed at $6 a bunch, what is the tax revenue?
Tax revenue is $______ a week.
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