The graph shows the demand curve for coal. The government imposes a tax on coal and the buyer pays the entil tax. Draw the supply curve of coal. Label it S. Draw a second supply curve that shows the effect of the tax. Label it S + tax. The more the supply of coal, OA. elastic; the larger is the amount of the tax paid by the buyer OB. elastic; the more equally is the split of the tax between the buyer. and the seller OC. inelastic; the larger is the amount of the tax paid by the buyer OD. elastic; the larger is the amount of the tax paid by the seller 60- 50- 40- 30- 20- 10- Price (dollars per ton) 0- 0 D 60 OO 20 80 100 40 Quantity (thousands of tons per year) >>> Draw only the objects specified in the question. 120 G

The graph shows the demand curve for coal. The government imposes a tax on coal and the buyer pays the entil tax. Draw the supply curve of coal. Label it S. Draw a second supply curve that shows the effect of the tax. Label it S + tax. The more the supply of coal, OA. elastic; the larger is the amount of the tax paid by the buyer OB. elastic; the more equally is the split of the tax between the buyer. and the seller OC. inelastic; the larger is the amount of the tax paid by the buyer OD. elastic; the larger is the amount of the tax paid by the seller 60- 50- 40- 30- 20- 10- Price (dollars per ton) 0- 0 D 60 OO 20 80 100 40 Quantity (thousands of tons per year) >>> Draw only the objects specified in the question. 120 G

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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