Question: Question 6 [12 points] The data in the following table is for the latest Movie by Jane Millworth. a) Fill in the Quantity Supplied (after
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Question 6 [12 points] The data in the following table is for the latest Movie by Jane Millworth. a) Fill in the Quantity Supplied (after tax) column assuming that a $2 per unit excise tax is imposed on the supplier. Price to Quantity Quantity Quantity Consumers Demanded Supplied Supplied (after (before tax) tax) 90 60 30 9 75 75 45 10 60 90 60 11 45 105 75 12 30 120 90 13 15 135 105 b) What is the equilibrium price and quantity before the tax? Equilibrium Price = $ 9 Equilibrium Quantity = 75 c) What is the equilibrium price and quantity after the $2 tax is imposed? Equilibrium Price (after tax) = $10 Equilibrium Quantity (after tax) = 60 d) What portion of the $2 tax is paid by the seller and what portion is paid by the consumer? Seller = $1 Consumer = $1
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