The following graph represents the demand and supply forpinckneys (an imaginary product). The black point...

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The following graph represents the demand and supply forpinckneys (an imaginary product). The black point...

The following graph represents the demand and supply for pinckneys (an imaginary product). The black point (plus symbol) indicates the pre-tax equilibrium. Suppose the government has just decided to impose a tax on this market; the grey points (star symbol) indicate the after-tax scenario.

business economics

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Answer 1

Answer #1

Per unit tax : $ 12

price producers receive after tax : $18

Equilibrium quantity before tax : 12

Producer surplus before the tax is imposed : D, E, F

Consumer surplus after the tax is imposed : A

Tax revenue after the tax is imposed : B, D

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Answer 2

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