Figure 8-9 12 11 10- 9 P 8 7 6 5 4 3 2 Supply Demand 20 40 60 80 100 120 140 160 180 200 220 240 17. Refer to Figure 8-9. How much is consumer surplus at the market equilibrium? 18. Refer to Figure 8-9. How much is producer surplus at the market equilibrium? 19. Refer to Figure 8-9. How much is total surplus at the market equilibrium? 20. Refer to Figure 8-9. Suppose the government places a $4 tax per unit on this good. What price will consumers pay for the good after the tax is imposed? 21. Refer to Figure 8-9. Suppose the government places a $4 tax per unit on this good. What price will sellers receive for the good after the tax is imposed? 22. Refer to Figure 8-9. Suppose the government places a $4 tax per unit on this good. How much is total surplus after the tax is imposed?
Figure 8-9 12 11 10- 9 P 8 7 6 5 4 3 2 Supply Demand 20 40 60 80 100 120 140 160 180 200 220 240 17. Refer to Figure 8-9. How much is consumer surplus at the market equilibrium? 18. Refer to Figure 8-9. How much is producer surplus at the market equilibrium? 19. Refer to Figure 8-9. How much is total surplus at the market equilibrium? 20. Refer to Figure 8-9. Suppose the government places a $4 tax per unit on this good. What price will consumers pay for the good after the tax is imposed? 21. Refer to Figure 8-9. Suppose the government places a $4 tax per unit on this good. What price will sellers receive for the good after the tax is imposed? 22. Refer to Figure 8-9. Suppose the government places a $4 tax per unit on this good. How much is total surplus after the tax is imposed?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:Figure 8-9
12
11
10-
9
P
8
7
6
5
4
3
2
Supply
Demand
20 40 60 80 100 120 140 160 180 200 220 240
17. Refer to Figure 8-9. How much is consumer surplus at the market equilibrium?
18. Refer to Figure 8-9. How much is producer surplus at the market equilibrium?
19. Refer to Figure 8-9. How much is total surplus at the market equilibrium?
20. Refer to Figure 8-9. Suppose the government places a $4 tax per unit on this good. What price will consumers pay for
the good after the tax is imposed?
21. Refer to Figure 8-9. Suppose the government places a $4 tax per unit on this good. What price will sellers receive for
the good after the tax is imposed?
22. Refer to Figure 8-9. Suppose the government places a $4 tax per unit on this good. How much is total surplus after
the tax is imposed?
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