Table 2: Market for SkisQs0P0481216Qd151296320 0612121620 d. If there is a $3 tax, what is the CS, PS, tax revenue, TS, and deadweight loss? Includegraph!e. Does welfare go up or down? Explain.

Answered: Table 2: Market for Skis P 0 4 8 12 16…

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Economics

Table 2: Market for Skis P 0 4 8 12 16 Qd 15 12 9 6 3 20 0 Qs 0 6 12 12 16 20

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

Table 2: Market for Skis
Qs
0
P
0
4
8
12
16
Qd
15
12
9
6
3
20 0
6
12
12
16
20

d. If there is a $3 tax, what is the CS, PS, tax revenue, TS, and deadweight loss? Include
graph!
e. Does welfare go up or down? Explain.

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