Back to Assignment 0 Keep the Highest 0 / 2 5. Calculating tax incidence Suppose that the local government of Ogden decides to institute a tax on soda consumers. Before the tax, 15 billion liters of soda were sold every year at a price of $9 per liter. After the tax, 9 billion liters of soda are sold every year; consumers pay $12 per liter (including the tax), and producers receive $5 per liter. The amount of the tax on a liter of soda is $ per liter. Of this amount, the burden that falls on consumers is $ per liter, and the burden that falls on producers is $ per liter. True or False: The effect of the tax on the quantity sold would have been the same as if the tax had been levied on producers True False Grade It Now Save & Continue Continue without saving MacBook Air * CO O OR LO # m O S I LL V Z > X4. Minimum wage legislation The following graph gives the labor market for the fast-food industry of the imaginary city of Combopolis. Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph. Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly. Graph Input Tool Market for Labor in the Fast Food Industry Wage 10 (Dollars per hour) Supply Labor Demanded 450 Labor Supplied (Hundreds of (Hundreds of 450 workers workers) WAGE (Dollars per hour) Demand o 0 90 180 270 360 450 540 630 720 810 900 LABOR (Hundreds of workers) In this market, the equilibrium wage is $10 per hour, and the equilibrium quantity of labor is 450 hundred workers. s a legal minimum wa This type of price control is called a MacBook Air 1 * ~ O