Question: 2. Price C ailing _I__ _M_m_ ___ _E___ m--r a. What is the total surplus at the equilibrium before the price ceiling is imposed ?

2. Price C ailing _I__ _M_m_ ___ _E___ m--r a. What is the total surplus at the equilibrium before the price ceiling is imposed ? b. After a price ceiling of $1.00 is imposed, there will be a shortage/surplus of c. After a price ceiling of $1.00 is imposed, there will be a deadweight loss of 3. Taxes 500 Supply allot tax Supply hem lax 2.75 2.00 1.00 Demand One 4.5 6 10 (in mm a. Who is legally responsible to pay the tax? How much is the tax? b. What is the incidence of this tax on buyers ? What is the incidence of this tax on sellers ? c. What is the government's tax revenue ? d. What is the deadweight loss due to this tax

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