% 5 The graph illustrates the market for Internet service Draw a point to indicate the market price of a unit of Internet service. Label it 1 The government taxes Internet services $15 a month. Draw the supply curve following the tax. Label it. Draw a point to indicate the price a buyer pays and the equilibrium quantity following the tax. Label it 2. Draw a point to indicate the price the seller receives and the equilibrium quantity following the tax. Label it 3. O 6 Oll Selected: none & 7 O * 8 ▸ 9 Line tool 60- 50 40- 30 20- 10- 0- 0 20 30 40 50 Quantity (units per month) >>> Draw only the objects specified in the question. ✓ Price (dollars per month) Delete Clear C 10 ? 4 + S 60 Next G X US b:

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Comparative Advantage and Absolute Advantage Analysis

The theory of absolute advantage was given by Adam Smith in the year 1776.