Consider the supply and demand functions graphed below. Suppose a tax is imposed such that the after equilibrium quantity is 50 as shown in the graph. Demand 10 Supply Q 20 50 80 100 The amount of the tax is $ per unit. The amount of tax collected is $ % of the tax was paid by consumers. 5 21

Economics: Private and Public Choice (MindTap Course List)
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Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter22: Price Takers And The Competitive Process
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Consider the supply and demand functions graphed below. Suppose a tax is imposed such that the after equilibrium quantity
is 50 as shown in the graph.
Demand
10
Supply
Q
20
50
80
100
The amount of the tax is $
per unit.
The amount of tax collected is $
% of the tax was paid by consumers.
5 21
Transcribed Image Text:Consider the supply and demand functions graphed below. Suppose a tax is imposed such that the after equilibrium quantity is 50 as shown in the graph. Demand 10 Supply Q 20 50 80 100 The amount of the tax is $ per unit. The amount of tax collected is $ % of the tax was paid by consumers. 5 21
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