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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