International Economics
16th Edition
ISBN: 9781305887633
Author: Robert Carbaugh
Publisher: Cengage Learning
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Chapter 4, Problem 12SQ
To determine
Calculation of the effective rate of protection for Canada’s steel industry.
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The graph shows the supply and demand curves of high-fructose corn syrup, a sweetener commonly used in the production of
sweets and soda due to its low cost. In an effort to curb health issues, Congress puts an excise or commodity tax on corn syrup
at $2 per liter.
1. Shade in the region of the graph representing the total tax revenue that this tax will generate.
2. Shade in the region of the graph representing the deadweight loss that this tax will generate.
Price ($) per liter
10
9
Supply
8
7
60
5
3
2
Demand
↓
0
0
1
2
3
4
5
6
7
8.
9
10
Quantity (millions of liters)
00
MacBook Air
Tax Revenue
Deadweight Loss
000
000
F4
AA
DII
DD
L
F5
F6
F7
F8
F9
F10
F11
%
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what is defecit in economy?
what is economic?
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