Suppose the market for soft drinks is given by: Demand: P=181-1.7Q Supply:P=1.30 The government wants to discourage unhealthy eating habits and so imposes a tax that reduces the market equilibrium quantity by 11. How much of the tax revenue generated was previously captured by producers at equilibrium? Oa. $314.60 O b. $170.00 O c. $705.47 Od. $117.97

Suppose the market for soft drinks is given by: Demand: P=181-1.7Q Supply:P=1.30 The government wants to discourage unhealthy eating habits and so imposes a tax that reduces the market equilibrium quantity by 11. How much of the tax revenue generated was previously captured by producers at equilibrium? Oa. $314.60 O b. $170.00 O c. $705.47 Od. $117.97

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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