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The diagram above shows the market for pizza before and after a tax is imposed.

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Question;The diagram above shows the market for pizza before and after a tax is imposed.(a) when a tax is imposed, the price paid by consumers is_________________(b) when a tax is imposed, the price obtained by producers is_________________(c) the consumer surplus after the tax is imposed is given by______________(d) the producer surplus before the tax is imposed is given by___________________(e) the tax income of government is given by____________________(f) the deadweight loss of tax is given by__________________(g) suppose Q1= 100,Q2=50, PB=100, Ps =60,the deadweight loss numerically equals __________________________ (you don?t have to know to P1 to get the answer!)(h) when the demand curve becomes steeper, the deadweight loss of tax becomes _________ a: bigger b: smaller

 

Paper#56717 | Written in 18-Jul-2015

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