PD=12-3q PS= 2+2Q Tax imposed=5 market is in equilibrium. what is the tax burden on sellers and buyers, and deadweight loss? what is consumer and producer surplus?

Refer to the graph shown. Assume the market is initially in equilibrium at point j in the graph but the imposition of a per-unit tax on this product shifts the supply curve up from SO to S1. The lost consumer surplus of this tax is equal to the area: 0 cdjh. deij. Ohji. đến khi. INIMI 43 Isiswissw h k $1 SO Demand Quantity

1. The demand for the product S is Q = 500 – 8P and its supply is Q = 200 + 4P. The good is currently untaxed, but the government needs to raise tax by taxing per unit of the good. a. Calculate excess burden for the product S. b. Calculates marginal excess burden for the product S? %3D The exact amount of the tax is not specified.

24 22 20 A 18 Supply 16 14 12 10 B 4 Demand 3 6 9 12 15 18 21 24 27 30 33 36 QUANTITY Consider the market described by the graph above where the vertical distance between points A and B represents a tax in the market. The per-unit burden of the tax on sellers is $4 and the tax results in a loss of $72 in producer surplus. $8 and the tax results in a loss of $24 in producer surplus. $8 and the tax results in a loss of $72 in producer surplus. $4 and the tax results in a loss of $24 in producer surplus. PRICE