The above image is the market for buckets of golf balls at a drivng range. A tax was imposed on this market, moving the supply from SO to S1. How large was the tax? Explain how you figured that out. (3 points)

The above image is the market for buckets of golf balls at a drivng range. A tax was imposed on this market, moving the supply from SO to S1. How large was the tax? Explain how you figured that out. (3 points)

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter3: Demand And Supply

Section: Chapter Questions

Problem 30RQ: How does a price floor 521 above the equilibrium level affect quantity demanded and quantity1...

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Question

Price (dollars per bucket)
16
15
14
13
12
||
10
0
200 300 400 500
600
..S₁..
D
700 800
Quantity (buckets)
002
002
OF1Z2U8
I meiner Scho
thouges
002
6. The above image is the market for buckets of golf balls at a drivng range. A tax was
imposed on this market, moving the supply from SO to S1. How large was the tax?
Explain how you figured that out. (3 points)
85
AS
11

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