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Question 9 Tries remaining: 2 evies a $212.5 per unit tax on the suppliers of sugar. Points out of 7.70 The demand for sugar is given by: Qp- 430 -0.25P. The supply of sugar is given by: Qs 4P-930. The government Calculate tax revenue from this tax Flag question (Do not include a sign in your response. Round to the nearest two decimal places if necessary.) Answer: Check

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Answer #1

Qd= 430-0.25P

Qs= 4P -930

Tax = $212.5

After tax : Qs= 4(P-212.5) -930

= 4P -850-930

= 4P -1780

Now,equate after ax Qs and Qd ,we get:

4P -1780 = 430-0.25P

4.25P = 2210

P= 520

So, equilibrium quantity after tax = 430-0.25(520) = 300

Tax revenue = Tax(Quantity after tax ) = (212.5)(300) = $63750

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