Use the following graph for a competitive market to answer the question below.  Assume the government imposes a $3 tax on buyers, which results in a shift of the demand curve from D1 to D2. The price the consumer pays for the product after the tax is imposed on the buyer isMultiple Choice$8.$7.$5.$4.

Use the following graph for a competitive market to answer the question below. A decreasing line labeled D intersects two increasing lines labeled S1 (to the right) and S2 (to the left) at points (400, 2.50) and (300, 3.50), respectively. A point lies at S1 where quantity equals 300 and price equals 1.25. Assume the government imposes a $2.25 tax on suppliers, which results in a shift of the supply curve from S1 to S2. The amount of the tax paid by the seller isMultiple Choice$2.25.$1.25.$1.00.$0.

Consider a market with demand curve 𝐷 = 25 − 3𝑝 and supply curve 𝑆 = −4 + 4𝑝. The unit of price is dollar. (a) Find the competitive equilibrium. (b) Compute consumer surplus and producer surplus at the equilibrium. (c) The government decides to impose a tax of $2 per unit. Compute the competitive equilibrium with the tax. (d) Compute consumer surplus, producer surplus and tax revenue at the new equilibrium.

If a tax is levied on the seller of a product the demand curvea.will not change.b.will shift downward.c.may shift up or down, depending on the amount of the tax.d.will shift upward.

Suppose the demand curve for a product is vertical and the supply curve is upward sloping. If a unit tax is imposed in the market for this product,

Assume that demand is perfectly elastic and supply is upward sloping. If a specific tax is imposed on sellers then following the imposition of the tax:Group of answer choicesProducer surplus is equal to zero.Consumer surplus is equal to zero.The total price paid by buyers will increase.The price received and kept by sellers remains unchanged.b, c and d are correct.