Question: I got A for the 1st and C for the 2nd...are these correct? Utilize the following graph. Assume that initially the market is at an
I got A for the 1st and C for the 2nd...are these correct?


Utilize the following graph. Assume that initially the market is at an equilibrium price of $6 per pound and an equilibrium quantity of 40 pounds. Suppose that the government institutes a $2 per-pound tax on this product. Given this information consumer surplus will fall from: P O -NWAUO VOODOO S1 SO Demand 0 10 20 30 40 50 60 70 80 90 100 Q 160 to 80. 160 to 90. 80 to 45. O 90 to 45.Utilize the following graph. Assume that initially the market is at an equilibrium price of $6 per pound and an equilibrium quantity of 40 pounds. Suppose that the government institutes a $2 per-pound tax on this product. Given this information how much tax revenue will the government collect? D_Mwammummo 0'10 20 304050 607'0 8090100 0
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