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Suppose the government imposes an excise tax on movie tickets of $2 each. An excise tax is a per unit tax on suppliers. In the graph in Q2 b, show...
Suppose the government imposes an excise tax on movie tickets of $2 each. An excise tax is a per unit tax on suppliers. In the graph in Q2 b, show the changes in the equilibrium price and quantity. Show the areas corresponding to total taxes collected, taxes paid by consumers, and taxes paid by producers.
Solve algebraically for: i) The after-tax equilibrium price. iii) Total taxes collected by government iv) Taxes paid by the customers vii) Taxes paid by producers. e. Calculate the consumer surplus before tax f. Calculate the consumer surplus after tax?
