Price per bin 120 110 100 90 80 70 60 50 40 30 20 10 $800 $900 V $450 O $1250 1 1 + 1 D S+t S in The figure represents the market for apples. Assume there are no externalities. Suppose a sales tax of $40 per bin of apples is levied on consumers of apples. The after-tax supply curve is labeled S+t. What is the dollar amount of the REVENUE collected by this tax? To review this concept, see the section Taxes and Efficiency. 10 20 30 40 50 60 70 80 90 100 Bins of apples
Price per bin 120 110 100 90 80 70 60 50 40 30 20 10 $800 $900 V $450 O $1250 1 1 + 1 D S+t S in The figure represents the market for apples. Assume there are no externalities. Suppose a sales tax of $40 per bin of apples is levied on consumers of apples. The after-tax supply curve is labeled S+t. What is the dollar amount of the REVENUE collected by this tax? To review this concept, see the section Taxes and Efficiency. 10 20 30 40 50 60 70 80 90 100 Bins of apples
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter6: Supply, Demand And Government Policies
Section: Chapter Questions
Problem 7PA
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