Mark,Kerry,Greg,and Carlos Each Like Chicago Cubs Baseball Games

Multiple Choice

Mark,Kerry,Greg,and Carlos each like Chicago Cubs baseball games.The single-game ticket price for an infield box seat is $50.Mark values a ticket at $70,Kerry at $65,Greg at $60,and Carlos at $55.Suppose that if the government taxes tickets at $5 each,the selling price will rise to $55.A consequence of the tax is that

A) consumer surplus shrinks by $50 and tax revenues increase by $20, so there is a deadweight loss of $30.
B) consumer surplus shrinks by $30 and tax revenues increase by $20, so there is a deadweight loss of $10.
C) consumer surplus shrinks by $20 and tax revenues increase by $20, so there is no deadweight loss.
D) consumer surplus shrinks by $50 and tax revenues increase by $20, so there is no deadweight loss.