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Table 41 Shows the Demand and Supply Schedules for Bottles of of Wine

Question 3

Essay

Table 4.1 shows the demand and supply schedules for bottles of wine (in thousands)for the economy of Newtown.
Table 4.1
Table 4.1 shows the demand and supply schedules for bottles of wine (in thousands)for the economy of Newtown. Table 4.1 a)If the government impose $4 per unit tax,what will be the new price and quantity? b)What will be the total tax revenue? c)What portion of the tax revenue is paid by the consumers? a)If the government impose $4 per unit tax,what will be the new price and quantity?
b)What will be the total tax revenue?
c)What portion of the tax revenue is paid by the consumers?

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