1. Refer to figure 8-26. How much is total surplus at the market equilibrium?
2. Refer to figure 8-26. Suppose the government places a $3 tax per unit on this good. What price will consumers pay for the good after the tax is imposed?
3. Refer to figure 8-26. Suppose the government places a $3 tax per unit on this good. What price will sellers recieve for the good after the tax is imposeed?
4. Refer to figure 8-26. Suppose the government places a $3 tax per unit on this good. How many units of this good will be bought and sold after the tax is imposed?
5. Refer to figure 8-26. Suppose the government places a $3 tax per unit on this good. How much tax revenue is collected after the tax is imposed?
6. Refer to figure 8-26. Suppose the government increases the size of the tax on this good from $3 per unit to $6 per unit. Will the tax revenue collected from the tax increase, decrease, or stay the same?
7. Refer to figure 8-26. Suppose the government places a $3 tax per unit on this good. How much is total surplus after the tax is imposed?
8. Refer to figure 8-26. Suppose the government places a $3 tax per unit on this good. How much is the deadweight loss from this tax?
