The equilibrium price in a market is $60. A tax is placed on this market that results in buyers paying $65 and sellers only getting to keep $40 of that. Which of the following is definitely true based on this information?   Buyers and sellers have the same elasticity.   The statutory burden of the tax is on the sellers   The size of the tax is $15. Sellers have a more elastic response to this tax.   The size of the tax is $20. Buyers have a more elastic response to this tax.   If 25 units of this good were sold before the tax was imposed and 20 units were sold after the tax was imposed, how much tax revenue does the government collect?   Tax revenue: $   If the purpose of this tax was to correct an externality, what kind of externality might it have been, and what was the per unit size of the externality? positive consumption externality; $15 negative production externality; $20 positive consumption externality; $25 negative consumption externality; $25

The equilibrium price in a market is $60. A tax is placed on this market that results in buyers paying $65 and sellers only getting to keep $40 of that. Which of the following is definitely true based on this information?

Buyers and sellers have the same elasticity.

The statutory burden of the tax is on the sellers

The size of the tax is $15. Sellers have a more elastic response to this tax.

The size of the tax is $20. Buyers have a more elastic response to this tax.

If 25 units of this good were sold before the tax was imposed and 20 units were sold after the tax was imposed, how much tax revenue does the government collect?

Tax revenue: $

If the purpose of this tax was to correct an externality, what kind of externality might it have been, and what was the per unit size of the externality? positive consumption externality; $15 negative production externality; $20 positive consumption externality; $25 negative consumption externality; $25