Figure: The Market for Spanish Textbooks12011010090706050403020100 10 15 30 40 50 60 QThe government adds a tax of $60 to the market,what would be the total tax collected by thegovernment if they sell at the new market quantityafter the tax?P 8 2888 Suppose that the market curves look like thefollowing:P-30-QP-5+4Qa $2 tax is added, what is the deadweight loss?Select one:Oa 4.6Ob 0.8Oe 5Od. 0.4

Ques 1) Tax creates a wedge between the price buyers pay and the price suppliers get. Here , before…

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Business

Economics

120 110 100 90 80 70 60 50 40 30 20 10 0 10 15 30 40 50 60

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Figure: The Market for Spanish Textbooks
120
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100
90
70
60
50
40
30
20
10
0 10 15 30 40 50 60 Q
The government adds a tax of $60 to the market,
what would be the total tax collected by the
government if they sell at the new market quantity
after the tax?
P 8 2888

Suppose that the market curves look like the
following:
P-30-Q
P-5+4Q
a $2 tax is added, what is the deadweight loss?
Select one:
Oa 4.6
Ob 0.8
Oe 5
Od. 0.4

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