Price (dollars per ball) 25 20 15 10 5 0 S 8 12 16 Quantity (millions of balls per week) a. $16 and 8 million balls b. $21 and 12 million balls D 64. If sellers of basket balls are taxed $6 a ball, the seller receives a price of $ balls c. $6 and 8 million balls d. $10 and 8 million balls e. None of the above 65. The government receives a revenue of $48 million a. True b. False 66. The economic burden of the tax is $ a. $3 on the seller and $3 on the buyer b. $5 on the seller and $1 on the buyer c. $1 on the seller and $5 on the buyer d. $4 on the seller and $2 on the buyer e. None of the above on the seller and $ and sells on the buyer

Price (dollars per ball) 25 20 15 10 5 0 S 8 12 16 Quantity (millions of balls per week) a. $16 and 8 million balls b. $21 and 12 million balls D 64. If sellers of basket balls are taxed $6 a ball, the seller receives a price of $ balls c. $6 and 8 million balls d. $10 and 8 million balls e. None of the above 65. The government receives a revenue of $48 million a. True b. False 66. The economic burden of the tax is $ a. $3 on the seller and $3 on the buyer b. $5 on the seller and $1 on the buyer c. $1 on the seller and $5 on the buyer d. $4 on the seller and $2 on the buyer e. None of the above on the seller and $ and sells on the buyer

Microeconomics: Principles & Policy

14th Edition

ISBN:9781337794992

Author:William J. Baumol, Alan S. Blinder, John L. Solow

Publisher:William J. Baumol, Alan S. Blinder, John L. Solow

Chapter6: Demand And Elasticity

Section: Chapter Questions

Problem 3TY

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