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? (3 MARKS)

b. If buyers are taxed 20 cents a brownie, what is the price and who pays the tax? (3 MARKS)

Please Answer it Urgently

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