Refer to Figure 8-6. If the tax is imposed on the buyer, what price would the buyers pay for the good?

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Refer to Figure 8-6. If the tax is imposed on the buyer, what price would the buyers pay for the good?

business economics

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Answer 1

Answer #1

The answer is $16.
the after-tax equilibrium at the demand curve where tax is the difference between demand and supply curve and that is the $16 as the tax shifts the supply curve up by the tax amount and the new supply =demand is at P=16 for buyer and P=6 for sellers.

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Answer 2

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Refer to Figure 8-6. If the tax is imposed on the buyer, what price would the buyers pay for the good?

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