Suppose the figure to the right represents the market for cotton. To help reduce debt, the...
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Suppose the figure to the right represents the market for cotton. To help reduce debt, the government decides to levy a tax on cotton of $0.60 per pound to be paid by cotton farmers. 2.40- 2.20- What is the incidence of this tax? 2.00- 1.80- 1.60- Producers pay $ of the $0.60 tax and consumers pay $ . (Enter your Supply responses rounded to two decimal places.) 1.40- 1.20- 1.00- 8 0.80- 0.60- 0.40- 0.20- Demand 0.00- 200 600 Quantity (pounds in 1000s) 400 800 1000 1200 Price (dollars per pount Suppose the figure to the right represents the market for cotton. To help reduce debt, the government decides to levy a tax on cotton of $0.60 per pound to be paid by cotton farmers. 2.40- 2.20- What is the incidence of this tax? 2.00- 1.80- 1.60- Producers pay $ of the $0.60 tax and consumers pay $ . (Enter your Supply responses rounded to two decimal places.) 1.40- 1.20- 1.00- 8 0.80- 0.60- 0.40- 0.20- Demand 0.00- 200 600 Quantity (pounds in 1000s) 400 800 1000 1200 Price (dollars per pount
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