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Author Question: Effect of TaxationThe graph shows the market for cigarettes. Assume that P1=$9.00, P2=$9.45, ... (Read 402 times)

Darron12

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Effect of Taxation

The graph shows the market for cigarettes.
 

Assume that P1=$9.00, P2=$9.45, P3=$9.75, Q1=240, and Q2=260. Because smoking creates a negative externality, the government has decided to tax the purchase of cigarettes by $0.75. With this tax, ________ cigarettes are sold at a price of ________. The government earns ________ in tax revenue. Consumers pay ________ percent of the tax. Please round your answer to two decimal places.
◦ 240, $9.75, $2340.00, -39.00
◦ 260, $0.05, $2457.00, -39.00
◦ 260, $0.05, $195.00, 40.00
◦ 240, $9.75, $180.00, 40.00


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Marked as best answer by Darron12 on Nov 23, 2022

zubair1583

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Darron12

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Reply 2 on: Nov 23, 2022
Great answer, keep it coming :)


anyusername12131

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Reply 3 on: Yesterday
Excellent

 

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