Below are the supply and demand curves of high fructose corn syrup, a sweetener commonly used...
Below are the supply and demand curves of high fructose corn syrup, a sweetener commonly used in the production of sweets and soda due to its low cost. In an effort to curb health issues, Congress puts an excise or commodity tax on corn syrup at $2 per liter. Please use the TR shape to shade the appropriate region of the graph representing the total revenue that this tax will generate. Please shade in the region that would represent the deadweight loss (OWL) of the tax.