Suppose that the government imposes a tax on the market. D is the demand curve before tax, S is the supply curve before tax and S after tax is the supply curve after the tax. Use the graph to answer the following questions: 7 6.5 6 5.5 5 4.5 4 35 3 25 2 15 1 0.5 price 5 10 15 20 25 30 35 40 45 50 55 60 65 70 quantity The equilibrium price in the market before the tax is imposed is | The price paid by buyers after the tax is imposed is $ The price sellers receive after the tax is imposed is $ The amount of the tax per unit is $ Buyers pay $ Sellers pay $ of the tax per unit. of the tax per unit. S after tax The government tax revenue is $ The deadweight loss of the tax is Please answer all parts of the question.
Suppose that the government imposes a tax on the market. D is the demand curve before tax, S is the supply curve before tax and S after tax is the supply curve after the tax. Use the graph to answer the following questions: 7 6.5 6 5.5 5 4.5 4 35 3 25 2 15 1 0.5 price 5 10 15 20 25 30 35 40 45 50 55 60 65 70 quantity The equilibrium price in the market before the tax is imposed is | The price paid by buyers after the tax is imposed is $ The price sellers receive after the tax is imposed is $ The amount of the tax per unit is $ Buyers pay $ Sellers pay $ of the tax per unit. of the tax per unit. S after tax The government tax revenue is $ The deadweight loss of the tax is Please answer all parts of the question.
Principles of Microeconomics
7th Edition
ISBN:9781305156050
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter6: Supply, Demand And Government Policies
Section: Chapter Questions
Problem 5QR
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Please indicate the figures to be entered into the missing spaces.
![Suppose that the government imposes a tax on the market. D is the demand curve before tax, S is the supply curve before
tax and S after tax is the supply curve after the tax. Use the graph to answer the following questions:
7
6.5
6
5.5
5
4.5
4
35
3
25
2
15.
1
0.5
price
5 10 15 20 25 30 35 40 45 50 55 60 65 70 quantity
The equilibrium price in the market before the tax is imposed is
The price paid by buyers after the tax is imposed is $
The price sellers receive after the tax is imposed is $
The amount of the tax per unit is $
Buyers pay $
Sellers pay $
S after tax
of the tax per unit.
of the tax per unit.
The government tax revenue is $
The deadweight loss of the tax is
Please answer all parts of the question.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fcd874469-18ba-491d-aba8-2547f423724b%2F6e7e855a-ab2b-4b97-a8bf-4892c273831a%2Ft8vnpp_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Suppose that the government imposes a tax on the market. D is the demand curve before tax, S is the supply curve before
tax and S after tax is the supply curve after the tax. Use the graph to answer the following questions:
7
6.5
6
5.5
5
4.5
4
35
3
25
2
15.
1
0.5
price
5 10 15 20 25 30 35 40 45 50 55 60 65 70 quantity
The equilibrium price in the market before the tax is imposed is
The price paid by buyers after the tax is imposed is $
The price sellers receive after the tax is imposed is $
The amount of the tax per unit is $
Buyers pay $
Sellers pay $
S after tax
of the tax per unit.
of the tax per unit.
The government tax revenue is $
The deadweight loss of the tax is
Please answer all parts of the question.
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