Figure 8-3

The vertical distance between points A and C represents a tax in the market.

20. Refer to Figure 8-3. The equilibrium price before the tax is imposed is

21. Refer to Figure 8-3. The price that buyers effectively pay after the tax is imposed is

22. Refer to Figure 8-3. The price that sellers effectively receive after the tax is imposed is

23. Refer to Figure 8-3. The per unit burden of the tax on buyers is

24. Refer to Figure 8-3. The per-unit burden of the tax on sellers is

25. Refer to Figure 8-3. The amount of the tax on each unit of the good is

26. Refer to Figure 8-3. The amount of tax revenue received by the government is equal to the area

27. Refer to Figure 8-3. The amount of deadweight loss associated with the tax is equal to

28. Refer to Figure 8-3. The loss in consumer surplus caused by the tax is measured by the area

29. Refer to Figure 8-3. The loss in producer surplus caused by the tax is measured by the area

30. Refer to Figure 8-3. Which of the following equations is valid for the tax revenue that the tax provides to the government?

31. Refer to Figure 8-3. Which of the following equations is valid for the deadweight loss of the tax?