Question: please include drawing or a visual with the explanation, thank you! S O - NWA OOVOO 0 1 2 3 4 5 6 7 8

please include drawing or a visual with the explanation, thank you!

please include drawing or a visual with the explanation, thank you! S

S O - NWA OOVOO 0 1 2 3 4 5 6 7 8 9 10 Quantity While it wasn't mentioned in lecture, there is actually a taxi industry in Econland. The above diagram illustrates the supply and demand for taxi rides in Econland. 14. Suppose the government imposes a tax of $8 per taxi ride. Total tax revenue collected equals (a 8 b) 32 C) 40 Quanity consumed d) 16 e) 24 15. Suppose instead of a tax, the government offers a subsidy of $2 per taxi ride. Producer surplus equals a) 18 b) 12.5 C) 8 d) 16 e) 20 16. Suppose instead of the other policies, there is a price-ceiling of $2. Suppose the rationing is perfectly inefficient. The total of producer and consumer surplus equals

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