Price (dollars per bunch) 24- S+tax 22 20 1818 16 14-14 12 10- D 60 80 20 40 60 80 100 120 140 Quantity (bunches per week) The above graph describes the market for roses, which is at equilibrium at point 1. Suppose that the government imposes a tax on the rose sellers of $6 per bunch. What percentage of the economic burden of the tax is paid by the rose buyers? O 50% 67% 100% 0%

Price (dollars per bunch) 24- S+tax 22 20 1818 16 14-14 12 10- D 60 80 20 40 60 80 100 120 140 Quantity (bunches per week) The above graph describes the market for roses, which is at equilibrium at point 1. Suppose that the government imposes a tax on the rose sellers of $6 per bunch. What percentage of the economic burden of the tax is paid by the rose buyers? O 50% 67% 100% 0%

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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