Figure 8-2 The vertical distance between points A and B represents a tax in the market....

Question

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Figure 8-2 The vertical distance between points A and B represents a tax in the market. 1 Price + + + Supply + + + + + + + w

Answer 1

Answer #1

Calculate total surplus without tax: TS = CS +PS = (12-6)(2-0) + (6-2)(2-0) = 6+4 = $10 Calculate consumer surplus after tax:

Answer 2

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