1) a: Using the information on the results page, draw the effect of the tax in the market from Round 0 to Round 1 (you do not need to do anything with the information from Round 1 to RoundB: Label the following values on your graph:The initial equilibrium price and quantity,The quantity after the tax,The price consumers pay after the tax, andThe price producers receive after the tax.C:Highlight on your graph the area that represents the tax revenue that was created by this tax. Calculate the tax revenue, how much consumers pay and how much producers pay.

Virtual Econ Market Taxonomy Start Over Instructions Leaderboard Home Results for Guest Total Penalty: 36.82 Start Over Leaderboard Game Summary: Equilibrium Price Paid to Price Paid by Round Tax Applied Supply Curve Demand Curve User's Guess Difference Penalty Quantity Supplier Consumer Initial $0.00 Qs = -12 + 4P Qd = 356 - 4P 172.0 $46.0 $46.0 N/A N/A N/A 7 $19.96 Qs = -91.84 + 4P Qd = 356 - 4P 132.08 $36.02 $55.98 $64.96 $8.98 17.96 2 $18.82 Qs = -167.12 + 4P Qd = 356 - 4P 94.44 $27.75 $65.39 $74.82 $9.43 18.86