Answered: Suppose that the market for soft drinks…

Suppose that the market for soft drinks is given by Deamand P= 187-2.8Q Supply P= 0.9Q The government wants to discourage unhealthy eating habits and so imposes a tax that reduces the market

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

Suppose that the market for soft drinks is
given by Deamand P= 187-2.8Q Supply
P= 0.9Q The government wants to
discourage unhealthy eating habits and
so imposes a tax that reduces the market
equilibrium by 8. How much of the tax
revenue generated was previously
captured by producers at equilibrium?
a. $179 b. 306.39 c. 43.20 d. 115.20

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