The table shows the market for chocolate bars Quantity demanded Quantity supplied (thousands per day) Price (dollars per chocolate bar) 1.10 50 5 1.20 40 10 1.30 30 15 1.40 20 20 1.50 10 25 A tax of $0.30 per chocolate bar is imposed on sellers What is the new price of a chocolate bar? Who pays the tax? The new price of a chocolate bar following the tax is $_ The tax is A. paid totally by the buyer B. paid totally by the seller
The table shows the market for chocolate bars Quantity demanded Quantity supplied (thousands per day) Price (dollars per chocolate bar) 1.10 50 5 1.20 40 10 1.30 30 15 1.40 20 20 1.50 10 25 A tax of $0.30 per chocolate bar is imposed on sellers What is the new price of a chocolate bar? Who pays the tax? The new price of a chocolate bar following the tax is $_ The tax is A. paid totally by the buyer B. paid totally by the seller
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter5: Elasticity
Section: Chapter Questions
Problem 8SCQ: The avenge annual income rises from 25,000 to 33,000, and the quantity of bleed consumed in a year...
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