-The figure above shows the market for gasoline. The government has imposed a tax on gasoline.
a. What is the amount of the tax per gallon of gasoline?
b. How much tax revenue will government collect from this tax?
c. How much of the tax is paid by consumers?
How much is paid by producers?
Which is more elastic, the supply or demand for gasoline?

Question

-The figure above shows the market for gasoline. The government has imposed a tax on gasoline.
a. What is the amount of the tax per gallon of gasoline?
b. How much tax revenue will government collect from this tax?
c. How much of the tax is paid by consumers?
 How much is paid by producers?
 Which is more elastic, the supply or demand for gasoline?

Quizplus · Accepted Answer

The Answer of 
-The figure above shows the market for gasoline. The government has imposed a tax on gasoline.
a. What is the amount of the tax per gallon of gasoline?
b. How much tax revenue will government collect from this tax?
c. How much of the tax is paid by consumers?
 How much is paid by producers?
 Which is more elastic, the supply or demand for gasoline?

-The Figure Above Shows the Market for Gasoline