Refer to Figure 8-5. What would happen to total surplus in this market if a tax were imposed? Figure 8-5 Price $22 16 10 300 Quantity O It would increase by $3000. O It would fall by $1500. O It would fall by $3000. O It would increase by $1500.

Essentials of Economics (MindTap Course List)
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Chapter6: Supply, Demand And Government Policies
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I understand that total surplus is consumer surplus plus producer surplus. And I understand that deadweight loss occurs from the tax. How do I actually find the answer to this question though? How do I math it? The only equation I’ve used for this chapter so far is for the area of a triangle which ia 1/1 x B xH.  If you could graph this out for me that would be great. I’m a visual learner
Refer to Figure 8-5. What would happen to total surplus in this market if a tax were imposed?
Figure 8-5
Price
$22
16
Tax
10
2.
300
Quantity
O It would increase by $3000.
O It would fall by $1500.
O It would fall by $3000.
O It would increase by $1500.
.. ---
Transcribed Image Text:Refer to Figure 8-5. What would happen to total surplus in this market if a tax were imposed? Figure 8-5 Price $22 16 Tax 10 2. 300 Quantity O It would increase by $3000. O It would fall by $1500. O It would fall by $3000. O It would increase by $1500. .. ---
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