ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Attached is a graph diagram depicting the market for soft drinks. If an excise tax equal to $1 per liter is levied on soft drink sellers, please answer the following questions:
1. Buyers would spend a total of $___________ million on soft drinks.
2. Sellers would receive a total of $____________ million (after-tax) from selling soft drinks.
3. The government revenue from this tax would be $____________ million.
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