The graph shows the market for lattes in which the government has imposed a tax of $6 per latte. Draw a point to show the price paid by buyers and the quantity bought. Draw shapes that represent the following: 1) consumer surplus. Label it CS. 2) producer surplus. Label it PS. 3) the tax revenue received by the government. Label it TR. 4) the deadweight loss created by the tax. Label it DWL. >>> A label can be repositioned by clicking on the edge of the label box and dragging it onto the shape. 16.00 14.00 12.00- 10.00- 8.00- 6.00 4.00- 2.00- Price (dollars per latte) S+tax S

Principles of Microeconomics (MindTap Course List)
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Chapter6: Supply, Demand And Government Policies
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K
%
5
The graph shows the market for lattes in which the government has
imposed a tax of $6 per latte.
Draw a point to show the price paid by buyers and the quantity bought.
Draw shapes that represent the following:
1) consumer surplus. Label it CS.
2) producer surplus. Label it PS.
3) the tax revenue received by the government. Label it TR.
4) the deadweight loss created by the tax. Label it DWL.
>>> A label can be repositioned by clicking on the edge of the label box
and dragging it onto the shape.
t
g
6
Oll
y
h
Selected:
none
&
7
u
O
8
j
►
O
H
(
9
O
16.00
14.00-
12.00-
10.00-
8.00-
6.00-
4.00-
2.00-
0.00-
A
0
41
Price (dollars per latte)
10
12
Quantity (millions of lattes per year)
>>> Draw only the objects specified in the question.
Delete Clear ?
O
D
р
S+tax
Next
➜
DODBO
US
Transcribed Image Text:K % 5 The graph shows the market for lattes in which the government has imposed a tax of $6 per latte. Draw a point to show the price paid by buyers and the quantity bought. Draw shapes that represent the following: 1) consumer surplus. Label it CS. 2) producer surplus. Label it PS. 3) the tax revenue received by the government. Label it TR. 4) the deadweight loss created by the tax. Label it DWL. >>> A label can be repositioned by clicking on the edge of the label box and dragging it onto the shape. t g 6 Oll y h Selected: none & 7 u O 8 j ► O H ( 9 O 16.00 14.00- 12.00- 10.00- 8.00- 6.00- 4.00- 2.00- 0.00- A 0 41 Price (dollars per latte) 10 12 Quantity (millions of lattes per year) >>> Draw only the objects specified in the question. Delete Clear ? O D р S+tax Next ➜ DODBO US
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