The following graph shows the demand and supply for i-Pods. 
a) What is equilibrium price and quantity?
b) Suppose that a $20 per unit sales tax is placed on the product. Draw in the new supply curve labeled Stax.
c) What is the new equilibrium price and quantity?
d) What proportion of the tax is paid by the consumer, and what proportion is paid by the seller in this case?
Definitions:
E-prescribing
The electronic generation, transmission, and filling of a medical prescription, minimizing paper-based errors and improving patient safety.
Electronic Health Record
A digital version of a patient's paper chart, offering real-time, patient-centered records that make information available instantly and securely to authorized users.
Pharmaceutical Developments
The process of researching, creating, testing, and bringing new drugs to the market.
Computer Science
The study of computers and computational systems, focusing on software, hardware, and the theory underlying them.
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