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

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Figure 2 The vertical distance between points A and B represents the tax in the market. Tarice 24 16 10 quantity 100 70

Question 14 2 pts Refer to Figure 2. The amount of the tax per unit is $16 $24 $18 O $10 $14 2 pts Question 15 Refer to Figur

Question 17 2 pts Refer to Figure 2. The Dead-weight loss (DWL) associated with this tax is O $300 $210 $270 $140 O $420 2 pt

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Answer 1

Answer #1

12) The price that buyers pay = 24

option(C)

13) The price that sellers receive = 10

option(C)

14) Amount of tax = 24-10 = 14

option(E)

15) Burden of tax on consumers = 24-16 = 8

option(E)

17) DWL = 0.5*(100-70)*14 = 210

Option(B)

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Answer 2

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