Economics Quiz

The per unit burden of the tax on sellers is

$2

The per-unit burden of the tax on buyers is

$3

The amount of the tax on each unti of the good is

$5

the amount of tax revenue recieved by the government is

$5

effective price that sellers recieve

10

tax per unit

14

the amount of deadweight loss as a result of the tax is

2.50

buyers pay after tax is imposed

24

per unit burden on sellers

6

per unit burden on buyers

8

majority of tax burden falls on sellers

A

majority of tax falls on buyers

B

equally divided between buyers and sellers

C

the imposition of the tax cause the price received by sellers to

decrease by $2

the imposition of the tax causes the quanity sold to

decrease by 1 unit

the imposition of the tax causes the price paid by buyers to

increase by $3

A tax on sellers will shift the

supply curve upward by the amount of the tax