Review the graph at right for a monopoly market. Assume the firm is charged a specific tax of t = $30 per unit as shown (enter the next four responses as whole numbers). How much is the new consumer surplus? $ How much is the new producer surplus? $ How much is the new deadweight loss? $ How much is the new total surplus? $ The tax incidence on consumers is (enter your response as a fraction).

Review the graph at right for a monopoly market. Assume the firm is charged a specific tax of t = $30 per unit as shown (enter the next four responses as whole numbers). How much is the new consumer surplus? $ How much is the new producer surplus? $ How much is the new deadweight loss? $ How much is the new total surplus? $ The tax incidence on consumers is (enter your response as a fraction).

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter7: Market Efficiency And Welfare

Section: Chapter Questions

Problem 9P

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