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restaurant is:
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a. What price will buyers pay for the good after the tax is
imposed?
3. If average income rises from $28,000 per b. What is the effective price that sellers will receive for
year to $30,000 per year and annual gasoline the good after the tax is imposed?
consumption per household rises from 1000
to 1400 gallons, the income elasticity of
demand for gas is:
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Price
Domestic demand
Domestic supply
Import quantity
Consumer surplus
Producer surplus
Tax revenue
Total surplus