Consider the marvet for designer purses. The following graph shows the demand and pay for designer purses before the gov

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Consider The Marvet For Designer Purses The Following Graph Shows The Demand And Pay For Designer Purses Before The Gov 1 (28.42 KiB) Viewed 43 times

Consider The Marvet For Designer Purses The Following Graph Shows The Demand And Pay For Designer Purses Before The Gov 2 (27.92 KiB) Viewed 43 times

Consider The Marvet For Designer Purses The Following Graph Shows The Demand And Pay For Designer Purses Before The Gov 3 (24.9 KiB) Viewed 43 times

Consider the marvet for designer purses. The following graph shows the demand and pay for designer purses before the government imposes any taxes ols AZ First, use the black point us symbol) to indicate the equilibrium price and quantity of designer purses in the absence of a tax Then use the green point (triangle symbol) to shade the area representing total consumer surplus (CS) at the equilibrium price. Next, use the purple point (diamond Symbol) do shade the area representing total producer surplus (PS) at the equilibrium price Before Tax 150 Eq 120 Demand 05 30 Consumer Surplus PRICE Dollars per purse 75 Producer Supplies Supply 5 20 15 TO 13 100 QUANTITY Pue)
Suppose the government imposes an excise tax on designer purses. The black ine on the following graph shows the tax wedge created by a tax of $30 per purse. First, use the tanquadrilatera (cash symbol) to shade the area representing tax revenue. Next, use the green point (triangle symbol) to shade the are representing total consumer surplus after the tax. Then, use the purple point (diamond symbol) to hide the arwa representing total producer surplus after the tax. Finally, use the black point (alus symbol) to shade the area representing deadweight loss. Alertas 150 135 Tax Reve 20 Demand A 103 Consumer Surplus DO PRCE (Dollars per purse 15 Tax Wedge 60 Producer Sort Supply 45 30 Deadweight loss 55 0 0 3 160 100 20 140 QUANTITY (Purses)
QUANTITY (Purses) Complete the following table by using the previous graphs to determine the values of consumer and producer surplus before the tax, and consumer surplus, producer surplus, tax revenue, and deadweight loss after the tax. Note: You can determine the areas of different portions of the graph by selecting the relevant area. Before Tax After Tax (Dollars) (Dollars) Consumer Surplus Producer Surplus Tax Revenue Deadweight Loss 0 0 Grade It Now Save & Continue Continue without saving