Question: 1) The table in the next column sets out the demand and supply schedules for chocolate brownies. Price (Cents/Brownie) Quantity Demanded (Millions/Day) Quantity Supplied (Millions/Day)

1) The table in the next column sets out the demand and supply schedules for chocolate brownies. Price (Cents/Brownie) Quantity Demanded (Millions/Day) Quantity Supplied (Millions/Day) 50 5 3 60 4 4 70 3 5 80 2 6 a. If sellers are taxed 20 cents a brownie, what is the price and who pays the tax? b. If buyers are taxed 20 cents a brownie, what is the price and who pays the tax?

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