QUESTION 23 Refer to the graph below for a market. Price 48 Supply 44- 40 + 36 + 32 28 + 24 20 + 16 12 + 8+ 4 Demand 5 10 15 20 25 300 35 40 45 50 ss 60 Quaxtity Assuming that the government imposes a tax size of AB in the above market. Based on that calculate 1. Consumer surplus after taxes 2. Producer surplus after taxes 3. Tax revenue after taxes 4. Deadweight loss if any after taxes

QUESTION 23 Refer to the graph below for a market. Price 48 Supply 44- 40 + 36 + 32 28 + 24 20 + 16 12 + 8+ 4 Demand 5 10 15 20 25 300 35 40 45 50 ss 60 Quaxtity Assuming that the government imposes a tax size of AB in the above market. Based on that calculate 1. Consumer surplus after taxes 2. Producer surplus after taxes 3. Tax revenue after taxes 4. Deadweight loss if any after taxes

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question 3