point(s) possibleSubmitNext questionThe graph shows the market for basketballs, when sellers are taxed $6 a ball.Price (dollars per ball)27What is the excess burden of the tax?25-Is the demand for basketballs or the supply of basketballs more inelastic?$+tax23-21-19-Draw a shape that shows the excess burden of the tax on basketballs.17+161515-ASThe excess burden of the tax on basketballs is $million.13-DThe supply of basketballs is morethan the demand for basketballs, and11-T0thepays most of the tax.SS9-O A. inelastic; seller7-12O B. inelastic; buyer5+1612Quantity (millions of balls)8.C. elastic; buyerD. elastic: seller>> Draw only the objects specified in the question.itsO Time Remaining: 00:53:44Nextmpletedhis course (ECON202 s2022 online) is based on Bade/Parkin: Foundations of Microeconomics, 9eMacBook ProO O O O

An elastic demand is one in which the adjustment of amount demanded because of an adjustment of cost…

Next question ne graph shows the market for basketballs, when sellers are taxed $6 a ball. Price (dollars per ball) 27 Vhat is the excess burden of the tax? 25 is the demand for basketballs or the supply of basketballs more inelastic? $+ tax 23 21- 19- Draw a shape that shows the excess burden of the tax on basketballs. 17+16 T5 15- The excess burden of the tax on basketballs is $ million. 13 ID The supply of basketballs is more than the demand for basketballs, and 11- 10 the pays most of the tax. 9- O A. inelastic; seller 7+ 12 OB. inelastic; buyer 5- 12 16 O C. elastic; buyer Quantity (millions of balls)

Next question ne graph shows the market for basketballs, when sellers are taxed $6 a ball. Price (dollars per ball) 27 Vhat is the excess burden of the tax? 25 is the demand for basketballs or the supply of basketballs more inelastic? $+ tax 23 21- 19- Draw a shape that shows the excess burden of the tax on basketballs. 17+16 T5 15- The excess burden of the tax on basketballs is $ million. 13 ID The supply of basketballs is more than the demand for basketballs, and 11- 10 the pays most of the tax. 9- O A. inelastic; seller 7+ 12 OB. inelastic; buyer 5- 12 16 O C. elastic; buyer Quantity (millions of balls)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Help me with part by drawing graph please
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