Figure 6-11. On the graph below, the shift of the supply curve from S₁ to S₂ represents the imposition of a tax on a good. On the axes, Q represents the quantity of the good and P represents the price.

-Consider Figure 6-11.Before the tax is imposed,

Question

Figure 6-11. On the graph below, the shift of the supply curve from S₁ to S₂ represents the imposition of a tax on a good. On the axes, Q represents the quantity of the good and P represents the price.
 
-Consider Figure 6-11.Before the tax is imposed,

Quizplus · Accepted Answer

Before the tax is imposed, buyers pay $5 per unit, sellers receive $5 per unit, and if the quantity sold is 10 units, the total revenue for sellers would be $50.