Instructions: Adjust the sliders so that the vertical intercept of the supply curve is $22.00 and the vertical intercept is $66.00 for the demand curve, Assume there is initially no tax, and that a $12.50 tax is being proposed by policymakers. Report all answers to two decimal places a) Calculate the total amount of surplus that consumers would lose if the tax was implemented. $ b) Calculate the total amount of surplus that producers would lose if the tax was implemented. $ ) How much of the total losses for consumers and producers are recovered as government tax revenue?$ d) is there any surplus lost by either consumers or producers that is not recovered as revenue? (Click to select)

The demand for tomatoes is Q = 40-4P and the supply of tomatoes is Q = P +10. Answer the following questions. (a) Suppose that $1 per unit tax is levied on the consumers. Who bears the economic incidence of this tax? (b) Calculate the deadweight loss (c) Suppose that stores will pay $1 per unit tax directly. What will happen to the "sticker price" on tomatoes? How will the size of the consumer tax burden change? (d) Suppose that tax is increased to $2 per unit on the consumers. Calculate the deadweight loss. Compare the size of the deadweight loss with (b).

Consumer surplus is a measure of the difference between: a)  The price which a consumer has to pay and the cost of producing the good (in a diagram, the area between the market price, and the supply curve). b)  The consumer’s willingness to pay, and the cost of production (the area between the demand curve and the supply curve). c)  The value which a consumer places on a unit of the good, and the market price (the area between the demand curve and the market price line). d)  The marginal revenue from sales and the marginal cost of sales (the area between the marginal revenue and the marginal cost curves).

The standard measure of consumer surplus is a fair measure of the value of a good to consumers because it gives an equal weight to each individual consumer.” Is this statement true, false, or uncertain?