The following problems require the use of the graph below. Make sure that you are clear in doing any drawing, marking and labeling of the graph. NOTE: Be careful and precise; use a straight-edge. S 550 500 450 400 350 300 250 200 150 100 50 0 100 125 150 Marijuana (lbs) 175 250 275 Part A Label the curves on the graph, and identify and label the market equilibrium quantity (with "QME") and the social equilibrium quantity (with "QSE"). Part B. Write out the value of the per unit tax that will move the market from the market equilibrium to the social equilibrium. You may want to draw the appropriate lines (using a straight-edge) to accurately determine the value. Part C Draw the MPC + per unit tax line of the producer that would allow the movement of the market from the market equilibrium to the social equilibrium.

The following problems require the use of the graph below. Make sure that you are clear in doing any drawing, marking and labeling of the graph. NOTE: Be careful and precise; use a straight-edge. S 550 500 450 400 350 300 250 200 150 100 50 0 100 125 150 Marijuana (lbs) 175 250 275 Part A Label the curves on the graph, and identify and label the market equilibrium quantity (with "QME") and the social equilibrium quantity (with "QSE"). Part B. Write out the value of the per unit tax that will move the market from the market equilibrium to the social equilibrium. You may want to draw the appropriate lines (using a straight-edge) to accurately determine the value. Part C Draw the MPC + per unit tax line of the producer that would allow the movement of the market from the market equilibrium to the social equilibrium.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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