Question: Using the graph below answer the following questions: Do NOT provide just answers, use the graph and show the formulas and steps. 1. From question

Using the graph below answer the following questions: Do NOT provide just answers, use the graph and show the formulas and steps. 1. From question 5, what is the cost borne to society after Government increases taxes by $0.50?2. Start at equilibrium at Point A. What is the cost borne to society after Government increases taxes by $1.00?3. From question 6, how much in terms of quantity must consumers demand less to eliminate the cost borne to society?

6 So + soc. = MC + Soc. SO= MC S 4 3 A 2 O 10 20 30 Do = MB 40 SO 60 70 80

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