Price (dollars per packet) 4.00 4.10 4.20 4.30 4.40 4.50 4.60 4.70 4.80 4.90 5.00 Quantity Quantity demanded supplied (boxes per (boxes per week) week) 140 20 130 40 120 60 110 80 100 100 90 120 80 140 70 160 60 180 50 200 40 220 The table gives the demand and supply schedules for cookies. The government now levies a $0.60 tax on the buyers of cookies. As a result, the price buyers pay for a box of cookies increases by $ and the tax revenue collected is $ a week Just enter a value. Do not include the "$" sign. For values less than 1, round you answers two decimal points. For example, 0.12 or 0.80.

Price (dollars per packet) 4.00 4.10 4.20 4.30 4.40 4.50 4.60 4.70 4.80 4.90 5.00 Quantity Quantity demanded supplied (boxes per (boxes per week) week) 140 20 130 40 120 60 110 80 100 100 90 120 80 140 70 160 60 180 50 200 40 220 The table gives the demand and supply schedules for cookies. The government now levies a $0.60 tax on the buyers of cookies. As a result, the price buyers pay for a box of cookies increases by $ and the tax revenue collected is $ a week Just enter a value. Do not include the "$" sign. For values less than 1, round you answers two decimal points. For example, 0.12 or 0.80.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter6: Consumer Choices

Section: Chapter Questions

Problem 17P: If a 10 decrease in the price of one product that you buy causes an 8 increase in quantity demanded...

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