The accompnying graph depicts the market for socks. Adjust the graph to demonstrate what happens if the government imposes a $2.00/pair tax on poducers Market for socks 10 What is the new equilibrium quantity? 8: 7 12 pairs 6 What is the new equilibrium price? 4 6 What is deadweight loss created by the tax? 0 0 3 6 9 12 15 18 21 24 27 30 Quantity (pairs of socks) What is the government tax revenue? O rt (ed s) aou What is the government tax revenue?

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