ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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- Price (dollars per pie) 6. 54 4. 4 5 6. Quantity (thousands of pies per week) The demand for apple pies is perfectly elastic. If the government taxes apple pies at $1 a pie, then A) the buyer pays the entire tax. B) the seller pays the entire tax. C) the seller and the buyer split the tax but the seller pays more. who pays the tax depends on whether D) the government imposes the tax on pie buyers or on pie sellers. 2.arrow_forwardSee the chart on the first picture to answer those two questions in second picture.arrow_forward4. Suppose the market for apples are shown in the graph below, Calculate Consumer surplus _____________ and Producers Surplus _________________.arrow_forward
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