Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter6: Supply, Demand And Government Policies
Section: Chapter Questions
Problem 6CQQ
Related questions
Question
![The graph shows the market for basketballs in which sellers are taxed $6 a ball.
Draw a shape that shows the excess burden of the tax on basketballs.
The excess burden of the tax on basketballs is $ million.
The supply of basketballs is more
the
pays most of the tax.
OA. inelastic; seller
OB. inelastic; buyer
OC. elastic; seller
OD. elastic; buyer
than the demand for basketballs, and
C
27-
25-
23-
21-
19-
17- 16
15
15-
13-
11-10
9-
7-
Price (dollars per ball)
5-
0
18
12
$+tax
+S
16
D
12
Quantity (millions of balls)
>>> Draw only the objects specified in the question.
OU
Next
mp](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F63a17a9a-0a76-4134-90b4-0656eb07d91f%2F85bd635b-e344-4520-8954-881ff72799a2%2Fvwg7ulh_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The graph shows the market for basketballs in which sellers are taxed $6 a ball.
Draw a shape that shows the excess burden of the tax on basketballs.
The excess burden of the tax on basketballs is $ million.
The supply of basketballs is more
the
pays most of the tax.
OA. inelastic; seller
OB. inelastic; buyer
OC. elastic; seller
OD. elastic; buyer
than the demand for basketballs, and
C
27-
25-
23-
21-
19-
17- 16
15
15-
13-
11-10
9-
7-
Price (dollars per ball)
5-
0
18
12
$+tax
+S
16
D
12
Quantity (millions of balls)
>>> Draw only the objects specified in the question.
OU
Next
mp
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